Snap Inc. (SNAP) - What Are Analysts Saying About This Stock?

Key Points

• Analysts maintain a “Hold” consensus on Snap, with 24 hold, nine buy, two sell and one strong-buy ratings among 36 analysts. The average 12-month price target is $7.65.
• Snap’s latest quarterly results exceeded expectations, with adjusted EPS of -$0.10 versus -$0.12 expected and revenue of $1.60 billion, up 18.9% year over year.
• Snap shares opened at $6.54 after recently gaining 4.9%, while insiders sold approximately 2.45 million shares worth $13.4 million over the prior 90 days.

Shares of Snap Inc. (NYSE:SNAP - Get Free Report) have been assigned a consensus rating of "Hold" from the thirty-six analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, twenty-four have assigned a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $7.65.

Several equities analysts have commented on SNAP shares. Evercore set a $8.00 price target on Snap in a report on Tuesday, August 4th. Benchmark reissued a "hold" rating on shares of Snap in a report on Tuesday, August 4th. Barclays lifted their price objective on Snap from $15.00 to $16.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. Zacks Research upgraded Snap from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 1st. Finally, Susquehanna restated a "neutral" rating on shares of Snap in a research report on Tuesday, August 4th.

Insider Transactions at Snap

In other Snap news, CTO Robert Murphy sold 2,000,000 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $5.55, for a total value of $11,100,000.00. Following the sale, the chief technology officer owned 41,809,791 shares of the company's stock, valued at $232,044,340.05. The trade was a 4.57% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Rebecca Morrow sold 20,000 shares of the business's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $5.35, for a total transaction of $107,000.00. Following the completion of the sale, the chief accounting officer directly owned 578,105 shares in the company, valued at $3,092,861.75. This trade represents a 3.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,445,926 shares of company stock valued at $13,426,930 over the last 90 days.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently made changes to their positions in SNAP. NFSG Corp boosted its stake in 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 in the last quarter. EverSource Wealth Advisors LLC raised its stake in Snap by 135.6% during the first quarter. EverSource Wealth Advisors LLC now owns 8,525 shares of the company's stock worth $39,000 after acquiring an additional 4,907 shares in the last quarter. Nwam LLC raised its stake in Snap by 23.1% during the first quarter. Nwam LLC now owns 26,302 shares of the company's stock worth $121,000 after acquiring an additional 4,936 shares in the last quarter. Fifth Third Bancorp raised its stake in Snap by 6,678.0% during the first quarter. Fifth Third Bancorp now owns 6,778 shares of the company's stock worth $31,000 after acquiring an additional 6,678 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its holdings in shares of Snap by 2.2% during the first quarter. Resona Asset Management Co. Ltd. now owns 319,076 shares of the company's stock valued at $1,443,000 after acquiring an additional 6,873 shares during the period. 47.52% of the stock is owned by institutional investors.

Snap Stock Up 4.9%

Shares of SNAP opened at $6.54 on Tuesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.94 and a current ratio of 2.94. The company has a 50-day simple moving average of $5.52 and a 200-day simple moving average of $5.29. Snap has a 52 week low of $3.81 and a 52 week high of $9.13. The firm has a market capitalization of $11.05 billion, a P/E ratio of -36.30 and a beta of 1.07.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Monday, August 3rd. The company reported ($0.10) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.02. Snap had a negative return on equity of 14.61% and a negative net margin of 4.90%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period last year, the business earned ($0.16) earnings per share. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts expect that Snap will post -0.02 earnings per share for the current year.

About Snap

Snap Inc is a technology and social media company best known for Snapchat, a visual communication platform that enables users to share photos, videos, messages and other content. Snapchat includes features such as Stories, Spotlight for short-form video, Snap Map, augmented reality (AR) Lenses and Bitmoji digital avatars.

The company primarily generates revenue through digital advertising, including advertising formats integrated into Snapchat's content and communication experiences. Snap also offers subscription services through Snapchat+, develops AR-related products and services, and has introduced hardware products such as Spectacles, smart glasses designed to support augmented reality experiences.

Founded in 2011, the company was initially known as Snapchat Inc and adopted the name Snap Inc in 2016.

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