Snap (NYSE:SNAP) Rating Lowered to Hold at Citizens Jmp

Snap (NYSE:SNAP) was downgraded by equities researchers at Citizens Jmp from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday. Susquehanna increased their price objective on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday. Barclays reiterated an “overweight” rating on shares of Snap in a report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $16.00 price target (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price objective on shares of Snap in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus price target of $36.87.

Snap Stock Up 0.4 %

Snap stock opened at $10.68 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. The firm has a 50 day moving average price of $11.51 and a 200 day moving average price of $10.89. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The company has a market capitalization of $17.90 billion, a PE ratio of -18.40 and a beta of 0.99.

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

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $11.49, for a total value of $206,820.00. Following the completion of the sale, the general counsel now owns 480,498 shares in the company, valued at approximately $5,520,922.02. This trade represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eric Young sold 112,020 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the transaction, the senior vice president now owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. This trade represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 445,184 shares of company stock valued at $4,968,189.

Institutional Investors Weigh In On Snap

Institutional investors have recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in shares of Snap in the 3rd quarter valued at approximately $29,000. Paladin Wealth LLC acquired a new stake in Snap in the third quarter valued at $30,000. Advisors Asset Management Inc. boosted its position in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Snap during the 4th quarter worth $32,000. Finally, Brooklyn Investment Group acquired a new position in shares of Snap during the 3rd quarter worth $41,000. Hedge funds and other 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.