Snap Inc. (NYSE:SNAP - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $12.15, but opened at $11.78. Snap shares last traded at $11.68, with a volume of 4,451,002 shares traded.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on SNAP shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. Needham & Company LLC reissued a "buy" rating and set a $640.00 price target on shares of Snap in a research report on Thursday, December 5th. Canaccord Genuity Group raised their price objective on Snap from $12.00 to $13.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Stifel Nicolaus decreased their target price on Snap from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Monday, October 14th. Finally, Loop Capital raised their price target on Snap from $14.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $37.13.
View Our Latest Analysis on Snap
Snap Price Performance
The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $19.02 billion, a price-to-earnings ratio of -19.55 and a beta of 0.98. The business's 50 day simple moving average is $11.59 and its 200-day simple moving average is $11.44.
Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. During the same period last year, the firm posted ($0.21) earnings per share. The firm's quarterly revenue was up 15.4% compared to the same quarter last year. On average, research analysts forecast that Snap Inc. will post -0.4 earnings per share for the current year.
Insider Buying and Selling
In related news, CAO Rebecca Morrow sold 2,812 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $32,169.28. Following the sale, the chief accounting officer now owns 430,252 shares of the company's stock, valued at $4,922,082.88. This trade represents a 0.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joanna Coles sold 6,434 shares of the business's stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total value of $77,208.00. Following the sale, the director now owns 54,761 shares in the company, valued at approximately $657,132. This trade represents a 10.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,451,618 shares of company stock worth $17,560,157 in the last ninety days. 22.68% of the stock is owned by insiders.
Hedge Funds Weigh In On Snap
Several large investors have recently modified their holdings of SNAP. V Square Quantitative Management LLC acquired a new stake in Snap in the third quarter valued at $29,000. Paladin Wealth LLC bought a new stake in shares of Snap in the 3rd quarter valued at about $30,000. Advisors Asset Management Inc. increased its stake in shares of Snap by 141.9% in the third 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 period. Hollencrest Capital Management acquired a new stake in shares of Snap in the second quarter valued at about $33,000. Finally, Brooklyn Investment Group bought a new position in shares of Snap during the third quarter worth about $41,000. Institutional investors own 47.52% of the company's stock.
About Snap
(
Get Free Report)
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.
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