Shares of Snap Inc. (NYSE:SNAP – Get Free Report) 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.
Check Out Our Latest Stock Report on Snap
Insider Buying and Selling at Snap
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 – Get Free Report) 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.
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