Snap (NYSE:SNAP) Downgraded to “Hold” Rating by Zacks Research

Snap (NYSE:SNAP) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

SNAP has been the subject of several other reports. Loop Capital reduced their target price on Snap from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Friday, May 16th. Citizens Jmp restated a “market perform” rating on shares of Snap in a research note on Wednesday, August 6th. B. Riley cut their price target on Snap from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday, April 30th. UBS Group cut their price target on Snap from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Finally, Rosenblatt Securities cut their price target on Snap from $9.00 to $8.70 and set a “neutral” rating for the company in a research note on Wednesday, August 6th. Five analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Snap has an average rating of “Hold” and an average price target of $34.16.

Snap Stock Performance

Shares of SNAP opened at $7.0650 on Wednesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88. The stock has a 50-day moving average of $8.68 and a 200-day moving average of $8.87. The company has a market cap of $11.94 billion, a PE ratio of -22.08 and a beta of 0.62. Snap has a one year low of $6.99 and a one year high of $13.28.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.34 billion. Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the business posted ($0.15) EPS. Snap has set its Q3 2025 guidance at EPS. On average, equities research analysts predict that Snap will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In other Snap news, CFO Derek Andersen sold 60,966 shares of Snap stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $7.17, for a total transaction of $437,126.22. Following the completion of the transaction, the chief financial officer owned 3,143,452 shares in the company, valued at approximately $22,538,550.84. The trade was a 1.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ajit Mohan sold 184,287 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $7.18, for a total value of $1,323,180.66. Following the completion of the transaction, the insider owned 5,492,006 shares in the company, valued at $39,432,603.08. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,526,744 shares of company stock worth $11,851,954 over the last 90 days. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Hedge funds and other institutional investors have recently modified their holdings of the business. Wealthcare Advisory Partners LLC purchased a new position in shares of Snap in the 1st quarter worth approximately $122,000. NBC Securities Inc. boosted its stake in shares of Snap by 154,650.0% in the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company’s stock worth $26,000 after buying an additional 3,093 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Snap by 2.4% in the 4th quarter. Ameriprise Financial Inc. now owns 157,118 shares of the company’s stock worth $1,692,000 after buying an additional 3,710 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Snap by 12.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 26,841 shares of the company’s stock worth $234,000 after buying an additional 2,918 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Snap by 19.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company’s stock worth $184,000 after buying an additional 2,792 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.