Snap’s (SNAP) “Neutral” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Snap (NYSE:SNAP) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $8.00 price objective on the stock.

Other equities analysts also recently issued reports about the company. Citigroup decreased their price target on Snap from $16.00 to $11.00 and set a neutral rating for the company in a research note on Monday, August 12th. Wolfe Research started coverage on Snap in a research note on Tuesday, July 16th. They issued a peer perform rating for the company. JPMorgan Chase & Co. 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 Friday, August 2nd. HSBC downgraded Snap from a buy rating to a hold rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group decreased their target price on Snap from $16.00 to $12.00 and set a neutral rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $14.00.

Snap Stock Down 1.3 %

Shares of NYSE SNAP opened at $10.74 on Monday. Snap has a 1 year low of $8.29 and a 1 year high of $17.90. The firm has a market cap of $17.62 billion, a price-to-earnings ratio of -13.23 and a beta of 1.00. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The stock’s 50-day simple moving average is $9.90 and its 200-day simple moving average is $12.76.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. As a group, equities analysts anticipate that Snap will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the transaction, the general counsel now directly owns 489,058 shares in the company, valued at approximately $5,286,716.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Snap news, CFO Derek Andersen sold 97,608 shares of Snap stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the transaction, the chief financial officer now directly owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the transaction, the general counsel now owns 489,058 shares in the company, valued at $5,286,716.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,511,540 shares of company stock valued at $13,466,406. Corporate insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Several hedge funds and other institutional investors have recently modified their holdings of SNAP. Marshall Wace LLP raised its holdings in shares of Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after acquiring an additional 12,533,653 shares in the last quarter. SRS Investment Management LLC raised its holdings in shares of Snap by 23.6% during the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after acquiring an additional 12,452,415 shares in the last quarter. Carmignac Gestion purchased a new stake in shares of Snap during the fourth quarter worth $110,103,000. Vanguard Group Inc. raised its holdings in shares of Snap by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after acquiring an additional 3,503,230 shares in the last quarter. Finally, TB Alternative Assets Ltd. raised its holdings in shares of Snap by 144.5% during the first quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock worth $58,488,000 after acquiring an additional 3,011,400 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other 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.