Snap Inc. (NYSE:SNAP) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Snap Inc. (NYSE:SNAP) have been assigned a consensus rating of “Hold” from the thirty brokerages that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $34.5680.

Several research analysts have recently commented on SNAP shares. Rosenblatt Securities reduced their target price on Snap from $9.00 to $8.70 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a report on Wednesday, October 8th. Citizens Jmp reissued a “market perform” rating on shares of Snap in a report on Wednesday, August 6th. Evercore ISI raised their price target on shares of Snap from $11.00 to $12.00 and gave the company an “in-line” rating in a report on Wednesday, August 6th. Finally, Bank of America lowered their price target on shares of Snap from $10.00 to $9.50 and set a “neutral” rating for the company in a report on Wednesday, August 6th.

Snap Stock Down 2.2%

SNAP traded down $0.18 during trading on Tuesday, reaching $7.65. 5,904,228 shares of the stock traded hands, compared to its average volume of 51,873,316. The stock’s 50-day simple moving average is $7.78 and its two-hundred day simple moving average is $8.26. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88. Snap has a fifty-two week low of $6.90 and a fifty-two week high of $13.28. The stock has a market cap of $12.92 billion, a price-to-earnings ratio of -23.89 and a beta of 0.89.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.16). Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted ($0.15) earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Snap will post -0.3 EPS for the current year.

Insider Buying and Selling at Snap

In other news, General Counsel Michael J. O’sullivan sold 24,000 shares of Snap stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $7.86, for a total transaction of $188,640.00. Following the transaction, the general counsel directly owned 514,454 shares of the company’s stock, valued at $4,043,608.44. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Derek Andersen sold 33,871 shares of Snap stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $7.56, for a total transaction of $256,064.76. Following the transaction, the chief financial officer directly owned 3,109,581 shares in the company, valued at approximately $23,508,432.36. This represents a 1.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 1,486,569 shares of company stock worth $11,356,203 over the last quarter.

Institutional Investors Weigh In On Snap

A number of institutional investors and hedge funds have recently modified their holdings of SNAP. DMC Group LLC grew its position in shares of Snap by 7.2% during the 1st quarter. DMC Group LLC now owns 19,547 shares of the company’s stock worth $170,000 after purchasing an additional 1,313 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Snap by 9.2% during the 2nd quarter. Apollon Wealth Management LLC now owns 15,934 shares of the company’s stock worth $138,000 after acquiring an additional 1,340 shares during the period. Zullo Investment Group Inc. lifted its holdings in shares of Snap by 12.8% during the 2nd quarter. Zullo Investment Group Inc. now owns 12,040 shares of the company’s stock worth $105,000 after acquiring an additional 1,365 shares during the period. Orion Porfolio Solutions LLC lifted its holdings in shares of Snap by 8.3% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 18,913 shares of the company’s stock worth $164,000 after acquiring an additional 1,451 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Snap by 2.5% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 70,608 shares of the company’s stock worth $614,000 after acquiring an additional 1,743 shares during the period. 47.52% of the stock is 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.