Snap Inc. (NYSE:SNAP) Given Average Recommendation of “Hold” by Analysts

Shares of Snap Inc. (NYSE:SNAP) have earned an average rating of “Hold” from the twenty-nine analysts that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, twenty have given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $8.1667.

SNAP has been the topic of a number of recent analyst reports. The Goldman Sachs Group cut their price objective on shares of Snap from $9.50 to $8.50 and set a “neutral” rating on the stock in a report on Tuesday, January 13th. Morgan Stanley cut their price target on Snap from $9.50 to $6.50 and set an “equal weight” rating on the stock in a research note on Sunday, February 22nd. Bank of America upgraded Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Thursday, February 5th. Rosenblatt Securities dropped their price objective on Snap from $9.50 to $6.40 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Finally, B. Riley Financial raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, February 5th.

Insider Activity at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $5.36, for a total transaction of $5,360,000.00. Following the completion of the transaction, the chief technology officer directly owned 49,313,775 shares of the company’s stock, valued at $264,321,834. This trade represents a 1.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Derek Andersen sold 63,041 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total transaction of $296,292.70. Following the completion of the sale, the chief financial officer directly owned 3,892,617 shares of the company’s stock, valued at $18,295,299.90. The trade was a 1.59% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,526,487 shares of company stock valued at $13,435,587.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Allworth Financial LP increased its stake in Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after purchasing an additional 1,581 shares during the last quarter. Oak Harvest Investment Services acquired a new position in shares of Snap in the 4th quarter valued at about $26,000. Arax Advisory Partners grew its position in shares of Snap by 220.0% during the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock valued at $27,000 after buying an additional 2,275 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Snap during the 4th quarter valued at about $29,000. Finally, EverSource Wealth Advisors LLC raised its stake in Snap by 561.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after acquiring an additional 3,071 shares during the period. Institutional investors own 47.52% of the company’s stock.

Snap Stock Down 3.7%

Snap stock traded down $0.19 during midday trading on Monday, hitting $4.97. 7,741,300 shares of the company were exchanged, compared to its average volume of 51,305,543. The company has a market cap of $8.39 billion, a PE ratio of -18.41 and a beta of 0.83. Snap has a fifty-two week low of $4.65 and a fifty-two week high of $10.41. The company’s fifty day moving average price is $6.53 and its 200-day moving average price is $7.35. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 EPS. On average, research analysts predict that Snap will post -0.3 EPS for the current fiscal year.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.