Snap Inc (SNAP) Given Consensus Recommendation of “Hold” by Analysts
Shares of Snap Inc (NYSE:SNAP) have earned an average recommendation of “Hold” from the thirty-three research firms that are covering the stock, MarketBeat Ratings reports. Four 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 average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $10.03.
A number of equities research analysts have recently commented on SNAP shares. SunTrust Banks reiterated a “hold” rating and set a $11.00 price objective on shares of Snap in a research report on Wednesday, April 24th. Zacks Investment Research downgraded Snap from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Wedbush reiterated an “outperform” rating and set a $12.25 price objective on shares of Snap in a research report on Wednesday, February 6th. Canaccord Genuity increased their price objective on Snap from $9.50 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, April 24th. Finally, Stifel Nicolaus increased their price objective on Snap from $8.00 to $10.00 and gave the company a “hold” rating in a research report on Wednesday, February 6th.
In other news, VP Jerry James Hunter sold 68,256 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $11.34, for a total value of $774,023.04. Following the completion of the sale, the vice president now owns 1,918,693 shares in the company, valued at $21,757,978.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Lynton sold 58,668 shares of the stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $11.00, for a total value of $645,348.00. Following the completion of the sale, the director now owns 126,817 shares of the company’s stock, valued at approximately $1,394,987. The disclosure for this sale can be found here. Insiders sold 6,709,190 shares of company stock valued at $67,891,584 in the last 90 days.
Shares of NYSE:SNAP opened at $11.31 on Thursday. Snap has a one year low of $4.82 and a one year high of $14.47. The firm has a market cap of $15.36 billion, a PE ratio of -11.66 and a beta of 1.17.
Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). Snap had a negative net margin of 92.94% and a negative return on equity of 47.71%. The company had revenue of $320.43 million for the quarter, compared to analyst estimates of $306.28 million. During the same quarter last year, the company posted ($0.17) EPS. Snap’s revenue was up 38.9% on a year-over-year basis. Sell-side analysts forecast that Snap will post -0.76 earnings per share for the current fiscal year.
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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