A number of other equities analysts also recently weighed in on the stock. Needham & Company LLC restated an underperform rating on shares of Snap in a report on Thursday, October 5th. Drexel Hamilton reiterated a buy rating and issued a $30.00 price objective on shares of Snap in a report on Wednesday, October 4th. Canaccord Genuity reissued a hold rating and issued a $15.00 target price on shares of Snap in a research report on Sunday, October 1st. BidaskClub raised shares of Snap from a sell rating to a hold rating in a research report on Thursday, September 28th. Finally, J P Morgan Chase & Co reissued a neutral rating and issued a $14.00 target price (down previously from $16.00) on shares of Snap in a research report on Monday, September 25th. Ten research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $18.03.
Snap (NYSE:SNAP) opened at 15.98 on Friday. Snap has a 1-year low of $11.28 and a 1-year high of $29.44. The firm has a 50-day moving average of $14.66 and a 200 day moving average of $17.36. The firm’s market cap is $19.13 billion.
Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.07). The business had revenue of $181.70 million for the quarter, compared to analysts’ expectations of $186.49 million. The business’s revenue for the quarter was up 153.1% on a year-over-year basis. Analysts expect that Snap will post ($0.64) earnings per share for the current fiscal year.
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In other news, VP Timothy Sehn sold 150,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $15.00, for a total value of $2,250,000.00. Following the completion of the transaction, the vice president now owns 2,679,168 shares of the company’s stock, valued at approximately $40,187,520. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Andrew Vollero sold 195,100 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $12.50, for a total value of $2,438,750.00. Following the completion of the transaction, the chief financial officer now directly owns 1,882,280 shares of the company’s stock, valued at approximately $23,528,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,133,598 shares of company stock valued at $29,704,362.
Several hedge funds have recently modified their holdings of the company. Pacer Advisors Inc. increased its stake in shares of Snap by 8.3% in the 2nd quarter. Pacer Advisors Inc. now owns 9,869 shares of the company’s stock valued at $175,000 after purchasing an additional 757 shares in the last quarter. Private Advisor Group LLC increased its stake in Snap by 6.7% during the 2nd quarter. Private Advisor Group LLC now owns 22,293 shares of the company’s stock worth $379,000 after buying an additional 1,393 shares in the last quarter. NN Investment Partners Holdings N.V. increased its stake in Snap by 6.3% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company’s stock worth $754,000 after buying an additional 2,530 shares in the last quarter. WFG Advisors LP increased its stake in Snap by 52.4% during the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after buying an additional 2,537 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in Snap by 21.1% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 19,816 shares of the company’s stock worth $352,000 after buying an additional 3,447 shares in the last quarter. 16.40% of the stock is owned by institutional investors and hedge funds.
Snap Company Profile
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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