Roth Mkm Reiterates “Neutral” Rating for Snap (NYSE:SNAP)

Snap (NYSE:SNAP)‘s stock had its “neutral” rating reaffirmed by Roth Mkm in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $14.00 price objective on the stock. Roth Mkm’s target price suggests a potential upside of 21.85% from the stock’s previous close.

Other analysts also recently issued research reports about the company. Susquehanna upped their price target on Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Wells Fargo & Company decreased their target price on Snap from $22.00 to $16.00 and set an “overweight” rating for the company in a research note on Wednesday, February 7th. Morgan Stanley decreased their target price on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, February 7th. Royal Bank of Canada decreased their target price on Snap from $17.00 to $13.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 7th. Finally, Truist Financial increased their target price on Snap from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.86.

Snap Stock Up 3.1 %

NYSE SNAP traded up $0.35 on Tuesday, reaching $11.49. The stock had a trading volume of 7,387,651 shares, compared to its average volume of 29,384,625. The business has a 50 day moving average price of $11.21 and a 200 day moving average price of $12.78. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap has a 1 year low of $7.86 and a 1 year high of $17.90. The company has a market capitalization of $18.97 billion, a price-to-earnings ratio of -13.93 and a beta of 1.13.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, February 6th. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.39 billion. On average, analysts forecast that Snap will post -0.58 EPS for the current fiscal year.

Insider Transactions at Snap

In related news, CFO Derek Andersen sold 96,953 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the sale, the chief financial officer now directly owns 2,534,689 shares in the company, valued at approximately $27,856,232.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Derek Andersen sold 96,953 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the sale, the chief financial officer now directly owns 2,534,689 shares in the company, valued at approximately $27,856,232.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 9,386 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the sale, the chief accounting officer now owns 495,526 shares in the company, valued at $5,520,159.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 470,482 shares of company stock valued at $5,284,091.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. NBC Securities Inc. boosted its position in Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after buying an additional 1,445 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position in Snap by 75.0% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares during the last quarter. Allworth Financial LP boosted its position in Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after buying an additional 1,708 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Snap in the 4th quarter valued at $51,000. Finally, Rakuten Securities Inc. bought a new position in Snap in the 4th quarter valued at $73,000. 47.52% of the stock is currently owned by 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.