Snap (NYSE:SNAP) Given New $5.00 Price Target at Cantor Fitzgerald

Snap (NYSE:SNAP) had its price objective cut by Cantor Fitzgerald from $6.00 to $5.00 in a report released on Thursday, Marketbeat reports. They currently have a neutral rating on the stock.

Several other research firms have also recently commented on SNAP. Guggenheim reaffirmed a “neutral” rating on shares of Snap in a report on Wednesday, September 2nd. Wall Street Zen lowered Snap from a “buy” rating to a “hold” rating in a report on Saturday, September 12th. Susquehanna restated a “neutral” rating on shares of Snap in a research report on Tuesday, August 4th. Citizens Jmp restated a “market perform” rating on shares of Snap in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company raised their target price on Snap from $5.00 to $6.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, twenty-two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Snap presently has a consensus rating of “Hold” and an average target price of $7.36.

Snap Price Performance

Shares of SNAP stock opened at $5.07 on Thursday. Snap has a 12 month low of $3.81 and a 12 month high of $9.13. The stock has a 50 day moving average of $5.75 and a 200-day moving average of $5.41. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.75.

Snap (NYSE:SNAP) last released its earnings results on Wednesday, November 4th. The company reported $0.03 earnings per share for the quarter. Snap had a negative net margin of 2.30% and a negative return on equity of 7.21%. The business had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the company earned ($0.06) earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. Research analysts predict that Snap will post -0.03 EPS for the current year.

Insider Activity

In other Snap news, CAO Rebecca Morrow sold 20,000 shares of the company’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $5.35, for a total transaction of $107,000.00. Following the sale, the chief accounting officer directly owned 578,105 shares of the company’s stock, valued at approximately $3,092,861.75. This represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Zachary Briers sold 136,504 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $5.20, for a total transaction of $709,820.80. Following the sale, the general counsel directly owned 2,424,331 shares of the company’s stock, valued at approximately $12,606,521.20. The trade was a 5.33% decrease in their position. 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 have sold 445,926 shares of company stock valued at $2,326,930 in the last ninety days. 22.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently modified their holdings of SNAP. Signaturefd LLC lifted its holdings in Snap by 68.9% during the 3rd quarter. Signaturefd LLC now owns 5,211 shares of the company’s stock worth $28,000 after buying an additional 2,126 shares in the last quarter. NFSG Corp increased its stake in shares of Snap by 52.7% in the 1st quarter. NFSG Corp now owns 8,400 shares of the company’s stock valued at $39,000 after buying an additional 2,900 shares during the period. Krilogy Financial LLC increased its stake in shares of Snap by 13.8% in the 3rd quarter. Krilogy Financial LLC now owns 27,789 shares of the company’s stock valued at $150,000 after buying an additional 3,371 shares during the period. Brighton Jones LLC increased its stake in shares of Snap by 6.5% in the 3rd quarter. Brighton Jones LLC now owns 57,178 shares of the company’s stock valued at $309,000 after buying an additional 3,511 shares during the period. Finally, Davidson Kahn Capital Management LLC raised its position in shares of Snap by 31.7% during the third quarter. Davidson Kahn Capital Management LLC now owns 17,261 shares of the company’s stock worth $93,000 after acquiring an additional 4,159 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Key Headlines Impacting Snap

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Snapchat+ surpassed 30 million paid subscribers, adding 5 million since February and providing a growing subscription revenue stream. Snapchat surpasses 30M paid subscribers
• Positive Sentiment: The company returned to net profitability and adjusted earnings exceeded expectations; revenue still grew 14% year over year, although it fell short of forecasts. Snap earnings and growth report
• Negative Sentiment: Third-quarter revenue of $1.72 billion missed estimates, as did daily active users. Sluggish ad sales and the user-growth shortfall overshadowed improved earnings and fueled concern about the pace of Snap’s advertising recovery. Snap shares fall as revenue and daily users miss estimates
• Negative Sentiment: Snap also announced a change in how it measures user engagement, which may make performance comparisons less straightforward. Snap tumbles on revenue and user growth miss; announces metric shift
• Negative Sentiment: Several analysts lowered price targets. JPMorgan cut its target to $5 and moved to underweight; Barclays halved its target to $8 but kept an overweight rating, while Cantor Fitzgerald lowered its target to $5 and maintained neutral. JPMorgan analyst recommendations

About Snap

Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, messages and Stories, while offering creative tools such as augmented reality (AR) Lenses and filters. The platform also includes features such as Snap Map, Spotlight and content from publishers and creators.

Snap generates most of its revenue from digital advertising, including video, augmented reality and other advertising formats delivered across Snapchat.