Snap Inc. (NYSE:SNAP) Given Average Rating of “Hold” by Analysts

Shares of Snap Inc. (NYSE:SNAP) have received an average rating of “Hold” from the thirty-five research firms that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, twenty-two have given a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $7.9056.

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Snap in a research note on Monday, April 20th. Evercore reissued a “mixed” rating on shares of Snap in a report on Thursday, February 5th. Tigress Financial began coverage on Snap in a research note on Monday, April 27th. They issued a “buy” rating for the company. Stifel Nicolaus increased their price objective on Snap from $4.50 to $5.25 and gave the company a “hold” rating in a research note on Tuesday, April 21st. Finally, Susquehanna decreased their target price on Snap from $9.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, February 5th.

Snap Stock Performance

Shares of SNAP stock opened at $5.53 on Friday. The firm has a 50 day moving average of $5.19 and a 200-day moving average of $6.50. Snap has a 52 week low of $3.81 and a 52 week high of $10.41. The company has a quick ratio of 3.56, a current ratio of 3.53 and a debt-to-equity ratio of 1.67. The company has a market cap of $9.33 billion, a price-to-earnings ratio of -23.02 and a beta of 1.05.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.14). Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the business posted ($0.08) earnings per share. Snap’s revenue was up 12.2% on a year-over-year basis. On average, equities analysts forecast that Snap will post -0.12 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Rebecca Morrow sold 16,499 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total value of $77,545.30. Following the sale, the chief accounting officer directly owned 466,682 shares of the company’s stock, valued at approximately $2,193,405.40. This represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Zachary M. Briers sold 11,437 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $6.04, for a total value of $69,079.48. Following the completion of the sale, the general counsel directly owned 2,774,031 shares in the company, valued at approximately $16,755,147.24. This represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,565,573 shares of company stock valued at $13,579,781 over the last 90 days. 22.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently modified their holdings of SNAP. Allworth Financial LP grew its stake in shares of Snap by 92.3% in the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after acquiring an additional 1,581 shares during the last quarter. Oak Harvest Investment Services bought a new position in shares of Snap during the fourth quarter valued at $26,000. Arax Advisory Partners lifted its holdings in shares of Snap by 220.0% during the fourth quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock valued at $27,000 after purchasing an additional 2,275 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Snap during the fourth quarter valued at $29,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Snap by 561.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock valued at $29,000 after purchasing an additional 3,071 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

About Snap

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.