Snap Inc. (NYSE:SNAP) Given Average Rating of "Hold" by Brokerages

Snap Inc. (NYSE:SNAP - Get Free Report) has earned an average rating of "Hold" from the thirty-one analysts that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, twenty-two have issued a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $34.79.

A number of research firms have commented on SNAP. Canaccord Genuity Group reduced their target price on Snap from $10.00 to $9.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Citigroup lowered Snap from an "outperform" rating to a "negative" rating in a research note on Tuesday. Susquehanna decreased their target price on Snap from $13.00 to $8.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Royal Bank Of Canada restated a "sector perform" rating and set a $12.00 price objective on shares of Snap in a research report on Wednesday, April 30th. Finally, Loop Capital reduced their price target on Snap from $16.00 to $12.00 and set a "buy" rating on the stock in a report on Friday, May 16th.

Snap Trading Up 0.9%

NYSE SNAP opened at $10.00 on Friday. Snap has a fifty-two week low of $7.08 and a fifty-two week high of $15.35. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.30 and a current ratio of 4.30. The stock has a 50 day simple moving average of $8.69 and a two-hundred day simple moving average of $9.35. The stock has a market cap of $16.71 billion, a P/E ratio of -32.26 and a beta of 0.59.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). The firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS. On average, analysts forecast that Snap will post -0.3 earnings per share for the current year.

Insider Transactions at Snap

In other Snap news, SVP Eric Young sold 117,592 shares of Snap stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.59, for a total value of $1,010,115.28. Following the transaction, the senior vice president owned 3,348,290 shares in the company, valued at $28,761,811.10. This trade represents a 3.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca Morrow sold 9,202 shares of Snap stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.59, for a total transaction of $79,045.18. Following the transaction, the chief accounting officer owned 448,881 shares in the company, valued at $3,855,887.79. The trade was a 2.01% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,667,802 shares of company stock worth $13,799,881 in the last three months. 22.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently modified their holdings of SNAP. Mountain Hill Investment Partners Corp. bought a new position in Snap in the 4th quarter worth about $27,000. Raiffeisen Bank International AG acquired a new stake in shares of Snap in the 4th quarter worth approximately $30,000. Signaturefd LLC lifted its stake in shares of Snap by 169.9% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the company's stock worth $26,000 after acquiring an additional 1,852 shares during the period. NBC Securities Inc. lifted its stake in shares of Snap by 154,650.0% in the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after acquiring an additional 3,093 shares during the period. Finally, Rakuten Securities Inc. lifted its stake in shares of Snap by 155.4% in the 1st quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock worth $30,000 after acquiring an additional 2,123 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.