Snap Inc. (NYSE:SNAP) Receives Average Recommendation of “Hold” from Analysts

Snap Inc. (NYSE:SNAP) has received an average rating of “Hold” from the thirty-two research firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, twenty-two have given a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $36.99.

SNAP has been the topic of a number of recent analyst reports. Cantor Fitzgerald raised their price objective on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group increased their target price on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim reissued a “buy” rating and issued a $12.11 price target on shares of Snap in a report on Tuesday, December 3rd. Needham & Company LLC reissued a “buy” rating and issued a $640.00 target price on shares of Snap in a report on Thursday, December 5th. Finally, UBS Group lifted their price target on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th.

Snap Trading Down 2.5 %

Snap stock opened at $11.34 on Friday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap has a 12 month low of $8.29 and a 12 month high of $17.50. The company’s fifty day simple moving average is $11.54 and its 200-day simple moving average is $11.03. The stock has a market cap of $19.01 billion, a P/E ratio of -19.54 and a beta of 0.98.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business posted ($0.21) EPS. Snap’s quarterly revenue was up 15.4% on a year-over-year basis. As a group, sell-side analysts forecast that Snap will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In related news, CAO Rebecca Morrow sold 32,000 shares of Snap stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $12.42, for a total value of $397,440.00. Following the sale, the chief accounting officer now owns 433,064 shares of the company’s stock, valued at approximately $5,378,654.88. This trade represents a 6.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the sale, the general counsel now directly owns 498,498 shares in the company, valued at approximately $5,403,718.32. This represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 427,184 shares of company stock valued at $4,761,369. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Snap by 128.0% in the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock valued at $47,000 after purchasing an additional 2,453 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Snap by 213.3% during the 4th quarter. V Square Quantitative Management LLC now owns 8,378 shares of the company’s stock worth $91,000 after purchasing an additional 5,704 shares in the last quarter. Compagnie Lombard Odier SCmA grew its stake in Snap by 312.8% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 170,674 shares of the company’s stock worth $1,838,000 after buying an additional 129,330 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Snap in the fourth quarter valued at approximately $2,285,000. Finally, Certuity LLC grew its position in Snap by 9.2% in the fourth quarter. Certuity LLC now owns 17,738 shares of the company’s stock valued at $191,000 after acquiring an additional 1,495 shares during the last quarter. 47.52% of the stock is 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.