Snap (NYSE:SNAP) Given Neutral Rating at Guggenheim

Snap (NYSE:SNAP - Get Free Report)'s stock had its "neutral" rating reissued by Guggenheim in a report issued on Wednesday,Benzinga reports.

A number of other analysts also recently commented on the stock. Bank of America boosted their target price on shares of Snap from $14.00 to $14.50 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. JMP Securities reissued a "market outperform" rating and issued a $16.00 price target on shares of Snap in a research report on Monday, January 27th. Citizens Jmp raised Snap from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Needham & Company LLC restated a "buy" rating and set a $640.00 price target on shares of Snap in a research note on Thursday, December 5th. Finally, Susquehanna raised their price objective on Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $36.80.

Snap Stock Up 0.4 %

SNAP traded up $0.04 during trading hours on Wednesday, reaching $8.06. 48,608,525 shares of the stock traded hands, compared to its average volume of 27,544,906. The company has a market cap of $13.66 billion, a price-to-earnings ratio of -19.18 and a beta of 0.92. Snap has a fifty-two week low of $7.66 and a fifty-two week high of $17.33. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The firm's fifty day simple moving average is $9.95 and its two-hundred day simple moving average is $10.77.

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Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, analysts forecast that Snap will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Snap

In other Snap news, CFO Derek Andersen sold 61,334 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $664,860.56. Following the transaction, the chief financial officer now directly owns 3,564,235 shares in the company, valued at $38,636,307.40. The trade was a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. O'sullivan sold 24,000 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $8.60, for a total transaction of $206,400.00. Following the sale, the general counsel now owns 507,660 shares of the company's stock, valued at approximately $4,365,876. The trade was a 4.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,356,523 shares of company stock valued at $12,710,077. 22.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SNAP. Capital International Investors purchased a new position in shares of Snap in the fourth quarter worth about $422,049,000. Capital World Investors boosted its holdings in Snap by 38.9% in the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company's stock worth $906,161,000 after buying an additional 23,569,522 shares during the period. Norges Bank purchased a new position in Snap in the 4th quarter valued at approximately $30,162,000. Renaissance Technologies LLC bought a new stake in Snap during the 4th quarter valued at $27,713,000. Finally, Portolan Capital Management LLC purchased a new stake in shares of Snap during the fourth quarter worth $25,447,000. Institutional investors own 47.52% of the company's stock.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.