ValuEngine upgraded shares of Snap (NYSE:SNAP) from a hold rating to a buy rating in a research note released on Friday morning, ValuEngine reports.

Other equities research analysts have also issued research reports about the stock. Summit Insights raised shares of Snap from a sell rating to a hold rating and set a $11.50 price target on the stock in a report on Friday, April 5th. Bank of America raised their price target on shares of Snap from $10.00 to $12.00 and gave the stock a neutral rating in a report on Friday, April 5th. SunTrust Banks reissued a hold rating and issued a $11.00 price target on shares of Snap in a report on Wednesday, April 24th. Zacks Investment Research lowered shares of Snap from a buy rating to a hold rating in a report on Wednesday, April 10th. Finally, Vertical Group cut shares of Snap from a mixed rating to a negative rating in a research report on Thursday, April 18th. Four equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $10.18.

Shares of Snap stock opened at $11.77 on Friday. The firm has a market capitalization of $15.11 billion, a price-to-earnings ratio of -12.13 and a beta of 1.17. Snap has a 12-month low of $4.82 and a 12-month high of $14.47.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The firm had revenue of $320.43 million during the quarter, compared to the consensus estimate of $306.28 million. Snap had a negative return on equity of 47.71% and a negative net margin of 92.94%. Snap’s revenue was up 38.9% on a year-over-year basis. During the same period last year, the business earned ($0.17) EPS. On average, equities analysts expect that Snap will post -0.76 earnings per share for the current year.

In other Snap news, Director Michael Lynton sold 25,000 shares of Snap stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $11.09, for a total value of $277,250.00. Following the completion of the transaction, the director now directly owns 126,817 shares of the company’s stock, valued at $1,406,400.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 18,484 shares of Snap stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $9.30, for a total transaction of $171,901.20. Following the completion of the transaction, the general counsel now directly owns 1,052,078 shares of the company’s stock, valued at $9,784,325.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,680,351 shares of company stock valued at $66,991,162.

Institutional investors have recently modified their holdings of the business. Valmark Advisers Inc. raised its holdings in Snap by 64.7% in the fourth quarter. Valmark Advisers Inc. now owns 18,543 shares of the company’s stock worth $102,000 after buying an additional 7,285 shares during the last quarter. TRUE Private Wealth Advisors purchased a new position in Snap in the first quarter worth about $115,000. Wedbush Securities Inc. purchased a new position in Snap in the fourth quarter worth about $55,000. Geode Capital Management LLC raised its holdings in Snap by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 4,810,361 shares of the company’s stock worth $26,505,000 after buying an additional 208,932 shares during the last quarter. Finally, Ffcm LLC purchased a new position in Snap in the fourth quarter worth about $92,000. 23.18% of the stock is owned by institutional investors and hedge funds.

Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

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Analyst Recommendations for Snap (NYSE:SNAP)

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