Snap (NYSE:SNAP) Rating Reiterated by Benchmark

Snap (NYSE:SNAP)‘s stock had its “hold” rating reissued by investment analysts at Benchmark in a research report issued to clients and investors on Friday, Benzinga reports.

A number of other equities research analysts have also recently weighed in on SNAP. JMP Securities upgraded shares of Snap from a “market perform” rating to an “outperform” rating and set a $17.00 price objective on the stock in a report on Wednesday. Truist Financial lowered their price objective on Snap from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Argus raised Snap to a “hold” rating in a research note on Thursday, August 8th. Roth Mkm reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Snap in a research report on Wednesday, September 18th. Finally, Barclays dropped their target price on shares of Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Snap has a consensus rating of “Hold” and an average target price of $13.89.

Snap Trading Up 1.3 %

Shares of SNAP traded up $0.13 during trading hours on Friday, hitting $10.40. The company had a trading volume of 1,897,245 shares, compared to its average volume of 26,749,342. Snap has a 52-week low of $8.29 and a 52-week high of $17.90. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The stock’s 50 day moving average price is $9.92 and its 200 day moving average price is $12.68. The firm has a market cap of $17.07 billion, a P/E ratio of -12.81 and a beta of 1.01.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. On average, research analysts predict that Snap will post -0.47 EPS for the current year.

Insider Activity

In related news, SVP Eric Young sold 114,097 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the sale, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at approximately $27,710,096.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Eric Young sold 114,097 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the transaction, the senior vice president now owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $10.81, for a total value of $194,580.00. Following the transaction, the general counsel now directly owns 489,058 shares of the company’s stock, valued at $5,286,716.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,508,617 shares of company stock valued at $13,422,930 in the last 90 days. 22.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SNAP. Vanguard Group Inc. increased its stake in shares of Snap by 0.9% in the first quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock worth $1,103,786,000 after purchasing an additional 830,889 shares during the period. Capital World Investors increased its position in Snap by 0.8% in the 1st quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock worth $531,206,000 after buying an additional 385,191 shares during the period. Marshall Wace LLP lifted 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 worth $243,629,000 after buying an additional 12,533,653 shares during the last quarter. Ossiam lifted its holdings in shares of Snap by 7.1% during the first quarter. Ossiam now owns 11,334,804 shares of the company’s stock worth $130,124,000 after buying an additional 751,846 shares during the last quarter. Finally, TB Alternative Assets Ltd. boosted its position in shares of Snap by 105.6% in 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 during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.