Snap (NYSE:SNAP) Receives “Market Outperform” Rating from JMP Securities

Snap (NYSE:SNAP)‘s stock had its “market outperform” rating reissued by research analysts at JMP Securities in a report issued on Friday,Benzinga reports. They currently have a $16.00 target price on the stock. JMP Securities’ price objective would indicate a potential upside of 42.35% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Guggenheim restated a “buy” rating and set a $12.11 price target on shares of Snap in a report on Tuesday, December 3rd. Cantor Fitzgerald boosted their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. B. Riley boosted their price target on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price target on shares of Snap in a research report on Wednesday, October 30th. Finally, Loop Capital raised their price target on Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and an average price target of $37.10.

Snap Stock Performance

Shares of NYSE SNAP opened at $11.24 on Friday. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap has a 12-month low of $8.29 and a 12-month high of $17.75. The stock has a 50 day simple moving average of $11.51 and a 200-day simple moving average of $11.68. The company has a market cap of $18.85 billion, a PE ratio of -19.38 and a beta of 0.97.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company posted ($0.21) EPS. The company’s revenue was up 15.4% compared to the same quarter last year. On average, equities research analysts forecast that Snap will post -0.4 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 12,315 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.54, for a total value of $129,800.10. Following the sale, the general counsel now owns 1,195,567 shares in the company, valued at approximately $12,601,276.18. The trade was a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the transaction, the chief technology officer now owns 57,210,989 shares in the company, valued at $715,137,362.50. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,451,618 shares of company stock worth $17,560,157. 22.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snap

Institutional investors and hedge funds have recently bought and sold shares of the company. Metis Global Partners LLC grew its holdings in Snap by 6.9% during the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock worth $207,000 after acquiring an additional 1,255 shares during the period. Intech Investment Management LLC grew its stake in shares of Snap by 1.9% in the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock valued at $830,000 after buying an additional 1,433 shares during the period. MML Investors Services LLC raised its position in Snap by 6.8% in the third quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock valued at $270,000 after purchasing an additional 1,614 shares during the period. Advisors Asset Management Inc. lifted its position in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after buying an additional 1,632 shares during the last quarter. Finally, TRUE Private Wealth Advisors boosted its position in shares of Snap by 3.5% during the 3rd quarter. TRUE Private Wealth Advisors now owns 51,941 shares of the company’s stock worth $556,000 after purchasing an additional 1,749 shares during the period. 47.52% of the stock is owned by institutional investors.

Snap Company Profile

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.