Snap Inc. (NYSE:SNAP) Receives Consensus Rating of “Hold” from Brokerages

Shares of Snap Inc. (NYSE:SNAP) have been assigned a consensus recommendation of “Hold” from the thirty-two brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $14.31.

Several analysts recently weighed in on the company. Susquehanna dropped their price target on Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. B. Riley lifted their target price on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price target on shares of Snap in a research note on Wednesday, October 30th. Truist Financial lifted their price objective on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Barclays decreased their target price on shares of Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd.

Insider Activity

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $12.31, for a total transaction of $221,580.00. Following the completion of the transaction, the general counsel now directly owns 471,058 shares of the company’s stock, valued at $5,798,723.98. This trade represents a 3.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Derek Andersen sold 97,608 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the sale, the chief financial officer now owns 2,287,970 shares in the company, valued at $21,255,241.30. This trade represents a 4.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,221,220 shares of company stock valued at $14,659,201.

Hedge Funds Weigh In On Snap

A number of hedge funds have recently made changes to their positions in SNAP. V Square Quantitative Management LLC acquired a new stake in Snap during the 3rd quarter valued at approximately $29,000. Paladin Wealth LLC acquired a new stake in shares of Snap during the third quarter worth $30,000. Advisors Asset Management Inc. raised its stake in Snap by 141.9% during the third 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 acquired a new position in Snap in the second quarter valued at $33,000. Finally, Blue Trust Inc. lifted its holdings in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares during the period. 47.52% of the stock is currently owned by institutional investors.

Snap Trading Down 0.5 %

Shares of Snap stock opened at $10.55 on Tuesday. Snap has a 1 year low of $8.29 and a 1 year high of $17.90. The business has a fifty day simple moving average of $10.68 and a two-hundred day simple moving average of $12.65. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. Snap’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.21) EPS. On average, research analysts anticipate that Snap will post -0.41 earnings per share for the current year.

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.