Snap (NYSE:SNAP) Given Outperform Rating at BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of Snap (NYSE:SNAP - Free Report) in a report published on Wednesday,Benzinga reports. They currently have a $16.00 price target on the stock, down from their previous price target of $18.00.

SNAP has been the subject of several other reports. Cantor Fitzgerald upped their price objective on Snap from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Stifel Nicolaus cut their price target on Snap from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Monday, October 14th. Evercore ISI lifted their price objective on shares of Snap from $12.00 to $15.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. Royal Bank of Canada restated a "sector perform" rating and set a $16.00 price objective on shares of Snap in a research report on Wednesday, October 30th. Finally, UBS Group raised their target price on shares of Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $36.99.

Snap Stock Performance

Shares of SNAP traded up $0.48 during mid-day trading on Wednesday, reaching $11.82. 35,418,917 shares of the company's stock were exchanged, compared to its average volume of 30,057,303. The business's fifty day simple moving average is $11.57 and its 200-day simple moving average is $11.40. The stock has a market capitalization of $19.82 billion, a PE ratio of -20.38 and a beta of 0.98. Snap has a 52-week low of $8.29 and a 52-week high of $17.50. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm posted ($0.21) EPS. Snap's revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts expect that Snap will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In other Snap news, CFO Derek Andersen sold 94,164 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the sale, the chief financial officer now directly owns 2,193,806 shares of the company's stock, valued at $25,097,140.64. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rebecca Morrow sold 11,154 shares of the business's stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $117,674.70. Following the completion of the transaction, the chief accounting officer now directly owns 465,064 shares of the company's stock, valued at approximately $4,906,425.20. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,451,618 shares of company stock worth $17,560,157 in the last ninety days. Insiders own 22.68% of the company's stock.

Institutional Trading of Snap

Hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Snap during the third quarter worth $29,000. Paladin Wealth LLC acquired a new stake in Snap in the 3rd quarter worth about $30,000. Advisors Asset Management Inc. boosted its stake in Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock worth $30,000 after buying an additional 1,632 shares during the last quarter. Hollencrest Capital Management purchased a new stake in Snap in the 2nd quarter valued at about $33,000. Finally, Brooklyn Investment Group acquired a new position in shares of Snap during the 3rd quarter valued at about $41,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.