Snap (NYSE:SNAP) Rating Increased to Buy at HSBC

HSBC upgraded shares of Snap (NYSE:SNAP - Free Report) from a reduce rating to a buy rating in a research report report published on Friday morning, Marketbeat reports.

A number of other equities analysts have also weighed in on the stock. Rosenblatt Securities increased their target price on shares of Snap from $11.00 to $12.00 and gave the stock a neutral rating in a research report on Wednesday, February 7th. Wells Fargo & Company lowered their target price on shares of Snap from $22.00 to $16.00 and set an overweight rating on the stock in a report on Wednesday, February 7th. Stifel Nicolaus cut their price target on Snap from $14.00 to $12.00 and set a hold rating for the company in a report on Tuesday, April 16th. Morgan Stanley decreased their price objective on Snap from $13.00 to $11.00 and set an underweight rating on the stock in a research note on Wednesday, February 7th. Finally, The Goldman Sachs Group cut their target price on Snap from $15.00 to $13.50 and set a neutral rating for the company in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $14.67.

Snap Stock Performance

NYSE SNAP traded up $3.13 during trading hours on Friday, reaching $14.53. 159,670,202 shares of the company were exchanged, compared to its average volume of 31,844,951. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. The stock has a market capitalization of $23.98 billion, a P/E ratio of -17.55 and a beta of 1.13. Snap has a 1 year low of $7.86 and a 1 year high of $17.90. The business's 50 day simple moving average is $11.19 and its 200-day simple moving average is $12.79.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.24) by $0.10. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The company had revenue of $1.19 billion for the quarter, compared to analysts' expectations of $1.12 billion. On average, equities research analysts expect that Snap will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Michael J. O'sullivan sold 13,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the transaction, the general counsel now owns 461,005 shares in the company, valued at $7,449,840.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap news, General Counsel Michael J. O'sullivan sold 18,000 shares of the company's stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the transaction, the general counsel now owns 474,812 shares of the company's stock, valued at approximately $5,474,582.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael J. O'sullivan sold 13,000 shares of Snap stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now owns 461,005 shares in the company, valued at $7,449,840.80. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock valued at $5,284,091 in the last ninety days. Company insiders own 22.68% of the company's stock.

Institutional Trading of Snap

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sowell Financial Services LLC raised its stake in Snap by 3.3% in the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company's stock worth $392,000 after buying an additional 729 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Snap by 2.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company's stock valued at $698,000 after purchasing an additional 891 shares in the last quarter. U.S. Capital Wealth Advisors LLC boosted its position in shares of Snap by 3.3% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company's stock valued at $533,000 after purchasing an additional 1,000 shares in the last quarter. Impax Asset Management Group plc grew its stake in Snap by 4.5% in the third quarter. Impax Asset Management Group plc now owns 23,434 shares of the company's stock worth $209,000 after purchasing an additional 1,017 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Snap by 7.1% in the third quarter. Principal Financial Group Inc. now owns 15,373 shares of the company's stock worth $137,000 after purchasing an additional 1,025 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company's stock.

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.