Snap (NYSE:SNAP) Given “Neutral” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Snap (NYSE:SNAP) in a research note published on Monday morning, Benzinga reports. Cantor Fitzgerald currently has a $8.00 price objective on the stock.

SNAP has been the subject of a number of other research reports. Bank of America reduced their price objective on Snap from $16.00 to $13.00 and set a neutral rating for the company in a research note on Friday, August 2nd. Barclays decreased their price objective on shares of Snap from $17.00 to $16.00 and set an overweight rating for the company in a report on Friday, August 2nd. Benchmark reiterated a hold rating on shares of Snap in a research note on Tuesday, August 6th. Hsbc Global Res lowered shares of Snap from a strong-buy rating to a hold rating in a research note on Friday, August 2nd. Finally, Roth Mkm reaffirmed a neutral rating and issued a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $14.00.

Snap Stock Performance

Shares of SNAP stock opened at $10.56 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The firm has a 50-day moving average of $10.18 and a 200-day moving average of $12.77. Snap has a one year low of $8.29 and a one year high of $17.90. The company has a market cap of $17.52 billion, a P/E ratio of -13.04 and a beta of 1.00.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Equities research analysts forecast that Snap will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total value of $239,040.00. Following the sale, the general counsel now owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total value of $239,040.00. Following the completion of the transaction, the general counsel now owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the sale, the chief technology officer now owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The disclosure for this sale can be found here. Insiders sold a total of 1,493,540 shares of company stock worth $13,271,826 over the last ninety days. 22.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snap

Institutional investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its stake in Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after buying an additional 891 shares in the last quarter. GraniteShares Advisors LLC boosted its stake in shares of Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. grew its holdings in shares of Snap by 2.7% during the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock valued at $411,000 after purchasing an additional 956 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Snap by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after purchasing an additional 1,048 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in Snap by 6.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock worth $333,000 after purchasing an additional 1,232 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap Company Profile

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.