Snap (NYSE:SNAP) Given “Overweight” Rating at Barclays

Barclays reiterated their overweight rating on shares of Snap (NYSE:SNAP) in a research note published on Wednesday, MarketBeat.com reports.

Several other research analysts have also recently weighed in on the company. Cantor Fitzgerald upped their price objective on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. B. Riley upped their price target on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Snap in a report on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and set a $16.00 target price on shares of Snap in a report on Wednesday, October 30th. Finally, Citigroup lifted their price target on shares of Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.87.

Snap Stock Performance

Shares of SNAP stock opened at $10.67 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap has a 52 week low of $8.29 and a 52 week high of $17.50. The company’s 50 day moving average price is $11.51 and its two-hundred day moving average price is $10.89. The company has a market capitalization of $17.89 billion, a P/E ratio of -18.39 and a beta of 0.99.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. On average, analysts expect that Snap will post -0.39 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snap news, CAO Rebecca Morrow sold 11,154 shares of Snap stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the sale, the chief accounting officer now owns 465,064 shares in the company, valued at $4,906,425.20. The trade was a 2.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Derek Andersen sold 94,164 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the transaction, the chief financial officer now owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 445,184 shares of company stock valued at $4,968,189.

Hedge Funds Weigh In On Snap

A number of hedge funds have recently added to or reduced their stakes in SNAP. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in shares of Snap during the 4th quarter valued at $54,000. Versor Investments LP lifted its position in Snap by 252.0% during the fourth quarter. Versor Investments LP now owns 123,200 shares of the company’s stock worth $1,327,000 after purchasing an additional 88,200 shares during the period. Checchi Capital Advisers LLC grew its stake in Snap by 3.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock worth $335,000 after buying an additional 901 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Snap during the fourth quarter worth about $7,614,000. Finally, Bank of New York Mellon Corp grew its stake in Snap by 2.0% during the fourth quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company’s stock worth $16,565,000 after buying an additional 29,526 shares in the last quarter. 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.