Snap (NYSE:SNAP) Earns Neutral Rating from Analysts at DA Davidson

Analysts at DA Davidson assumed coverage on shares of Snap (NYSE:SNAP) in a report released on Wednesday,Benzinga reports. The firm set a “neutral” rating and a $5.00 price target on the stock. DA Davidson’s target price indicates a potential upside of 7.64% from the company’s previous close.

Other analysts have also issued research reports about the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a research report on Monday, April 20th. Royal Bank Of Canada lowered their price target on shares of Snap from $10.00 to $8.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 7th. Sanford C. Bernstein cut shares of Snap from a “market perform” rating to a “market perform” rating in a research report on Monday, April 27th. UBS Group set a $5.00 price objective on shares of Snap in a research note on Tuesday. Finally, BMO Capital Markets raised their price objective on Snap from $13.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, twenty-four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $7.48.

Snap Trading Down 2.2%

NYSE SNAP opened at $4.64 on Wednesday. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of -19.35 and a beta of 1.05. The stock’s 50 day moving average price is $5.39 and its two-hundred day moving average price is $5.80. The company has a debt-to-equity ratio of 1.67, a quick ratio of 3.53 and a current ratio of 3.53. Snap has a 52 week low of $3.81 and a 52 week high of $10.41.

Snap (NYSE:SNAP) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. Snap had a negative return on equity of 18.92% and a negative net margin of 6.72%.The company’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company earned ($0.08) EPS. As a group, analysts anticipate that Snap will post -0.07 earnings per share for the current fiscal year.

Insider Activity at Snap

In other Snap news, General Counsel Zachary M. Briers sold 129,493 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $5.60, for a total transaction of $725,160.80. Following the completion of the sale, the general counsel owned 2,644,538 shares of the company’s stock, valued at $14,809,412.80. This trade represents a 4.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Rebecca Morrow sold 16,729 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.60, for a total transaction of $93,682.40. Following the completion of the transaction, the chief accounting officer owned 512,811 shares in the company, valued at approximately $2,871,741.60. This represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 2,907,554 shares of company stock worth $16,093,619 in the last three months.

Institutional Trading of Snap

Several hedge funds and other institutional investors have recently modified their holdings of SNAP. Allworth Financial LP raised its holdings in Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after acquiring an additional 1,581 shares during the period. Oak Harvest Investment Services acquired a new stake in Snap during the 4th quarter worth approximately $26,000. Arax Advisory Partners lifted its holdings in Snap by 220.0% during the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock worth $27,000 after purchasing an additional 2,275 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Snap in the 4th quarter valued at $29,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Snap by 561.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock valued at $29,000 after buying an additional 3,071 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

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.