Snap Inc. (NYSE:SNAP) Given Consensus Rating of “Hold” by Brokerages

Shares of Snap Inc. (NYSE:SNAP) have received an average recommendation of “Hold” from the thirty-two ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, twenty-three have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $13.89.

A number of brokerages recently commented on SNAP. Roth Mkm restated a “neutral” rating and issued a $14.00 price target on shares of Snap in a research report on Wednesday, September 18th. Argus upgraded Snap to a “hold” rating in a research report on Thursday, August 8th. Bank of America decreased their target price on Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley upgraded Snap from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $12.00 to $16.00 in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group decreased their target price on Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total value of $239,040.00. Following the transaction, the general counsel now directly owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. The trade was a 0.00 % 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 hyperlink. In other news, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total transaction of $1,327,500.00. Following the completion of the sale, the chief executive officer now owns 3,327,844 shares in the company, valued at $29,451,419.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total value of $239,040.00. Following the sale, the general counsel now owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,508,617 shares of company stock valued at $13,422,930. 22.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snap

Several hedge funds and other institutional investors have recently modified their holdings of SNAP. Marshall Wace LLP increased its holdings in shares of Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after acquiring an additional 12,533,653 shares in the last quarter. TB Alternative Assets Ltd. increased its holdings in shares of Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after acquiring an additional 4,098,847 shares in the last quarter. Vanguard Group Inc. grew its holdings in Snap by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after buying an additional 3,503,230 shares in the last quarter. Discovery Capital Management LLC CT bought a new stake in Snap during the second quarter worth $22,591,000. Finally, Assenagon Asset Management S.A. grew its holdings in Snap by 74.0% during the second quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock worth $46,913,000 after buying an additional 1,201,565 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Stock Up 1.2 %

Shares of NYSE SNAP opened at $10.27 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. Snap has a 52 week low of $8.29 and a 52 week high of $17.90. The stock has a market capitalization of $17.04 billion, a P/E ratio of -14.26 and a beta of 1.01. The stock’s fifty day moving average is $9.92 and its 200 day moving average is $12.68.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Sell-side analysts forecast that Snap will post -0.47 earnings per share for the current fiscal year.

About Snap

Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.