Snap (NYSE:SNAP) Lowered to Hold Rating by Citizens Jmp

Snap (NYSE:SNAP - Get Free Report) was downgraded by equities researchers at Citizens Jmp from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on SNAP. Truist Financial raised their price objective on Snap from $13.00 to $14.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 price objective on shares of Snap in a research note on Monday, January 27th. JPMorgan Chase & Co. decreased their target price on shares of Snap from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Wednesday, February 5th. Barclays restated an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. Finally, Evercore ISI lifted their price objective on Snap from $12.00 to $15.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $36.87.

Snap Price Performance

SNAP traded down $0.12 on Wednesday, reaching $10.81. The company had a trading volume of 20,597,718 shares, compared to its average volume of 33,644,609. Snap has a 52-week low of $8.29 and a 52-week high of $17.33. The company has a market cap of $18.12 billion, a price-to-earnings ratio of -25.73 and a beta of 0.99. The company has a debt-to-equity ratio of 1.47, a quick ratio of 4.04 and a current ratio of 3.95. The business has a 50 day simple moving average of $11.47 and a 200 day simple moving average of $10.81.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, sell-side analysts anticipate that Snap will post -0.26 EPS for the current year.

Insider Transactions at Snap

In related news, General Counsel Michael J. O'sullivan sold 18,000 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the transaction, the general counsel now directly owns 480,498 shares of the company's stock, valued at approximately $5,520,922.02. This represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 94,164 shares of Snap stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the sale, the chief financial officer now directly owns 2,193,806 shares of the company's stock, valued at approximately $25,097,140.64. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 443,518 shares of company stock valued at $4,947,981 in the last ninety days. 22.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snap

Several institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in shares of Snap during the 3rd quarter valued at about $29,000. Paladin Wealth LLC purchased a new stake in Snap in the third quarter worth approximately $30,000. Advisors Asset Management Inc. raised its stake in Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock valued at $30,000 after buying an additional 1,632 shares during the last quarter. Comprehensive Financial Planning Inc. PA purchased a new position in shares of Snap in the 4th quarter worth $32,000. Finally, Brooklyn Investment Group purchased a new stake in Snap during the third quarter valued at $41,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Company Profile

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.