Snap Inc. (NYSE:SNAP) Receives Consensus Rating of "Hold" from Analysts

Shares of Snap Inc. (NYSE:SNAP - Get Free Report) have received a consensus rating of "Hold" from the thirty-one ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, twenty-three have given a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $35.58.

A number of brokerages have recently issued reports on SNAP. Truist Financial cut their price objective on shares of Snap from $14.00 to $11.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. The Goldman Sachs Group reduced their price target on Snap from $9.50 to $8.50 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Citizens Jmp raised Snap from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Citigroup reduced their target price on shares of Snap from $9.00 to $8.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Finally, Loop Capital set a $9.00 price target on shares of Snap in a report on Friday.

Insider Transactions at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $8.03, for a total transaction of $8,030,000.00. Following the sale, the chief technology officer now directly owns 54,517,308 shares in the company, valued at $437,773,983.24. This represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Eric Young sold 102,152 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $1,107,327.68. Following the transaction, the senior vice president now directly owns 3,443,419 shares in the company, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,362,523 shares of company stock worth $20,719,017 in the last three months. Insiders own 22.68% of the company's stock.

Institutional Investors Weigh In On Snap

Several institutional investors have recently made changes to their positions in SNAP. Everence Capital Management Inc. bought a new position in Snap in the 4th quarter worth about $437,000. FNY Investment Advisers LLC increased its holdings in shares of Snap by 1,756.8% in the fourth quarter. FNY Investment Advisers LLC now owns 13,740 shares of the company's stock valued at $147,000 after purchasing an additional 13,000 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Snap by 51.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company's stock valued at $33,244,000 after acquiring an additional 1,050,501 shares during the last quarter. HCR Wealth Advisors grew its position in Snap by 3.9% during the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company's stock worth $269,000 after purchasing an additional 934 shares during the period. Finally, RDA Financial Network purchased a new stake in Snap in the 4th quarter worth approximately $123,000. Institutional investors own 47.52% of the company's stock.

Snap Price Performance

Shares of SNAP opened at $8.54 on Tuesday. The company has a market capitalization of $14.49 billion, a P/E ratio of -20.33 and a beta of 0.61. Snap has a twelve month low of $7.08 and a twelve month high of $17.33. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm has a 50 day moving average of $8.66 and a 200 day moving average of $10.38.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.12). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Snap's quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.03 earnings per share. As a group, equities research analysts anticipate that Snap will post -0.3 earnings per share for the current fiscal year.

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.

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