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Snap Inc. (NYSE:SNAP) Receives Consensus Recommendation of "Hold" from Brokerages

Snap logo with Computer and Technology background

Shares of Snap Inc. (NYSE:SNAP - Get Free Report) have received a consensus rating of "Hold" from the thirty-one research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, twenty-three have given a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $35.62.

Several research analysts have weighed in on SNAP shares. Canaccord Genuity Group dropped their price target on Snap from $10.00 to $9.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lowered their target price on shares of Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a report on Tuesday, April 8th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $12.00 target price on shares of Snap in a research note on Wednesday, April 30th. The Goldman Sachs Group reduced their price target on shares of Snap from $9.50 to $8.50 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Finally, Cantor Fitzgerald set a $7.00 price objective on shares of Snap and gave the company a "neutral" rating in a report on Wednesday, April 30th.

Check Out Our Latest Stock Analysis on Snap

Insider Buying and Selling

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $8.03, for a total value of $8,030,000.00. Following the transaction, the chief technology officer now owns 54,517,308 shares of the company's stock, valued at $437,773,983.24. This represents a 1.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Eric Young sold 117,592 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.59, for a total transaction of $1,010,115.28. Following the sale, the senior vice president now directly owns 3,348,290 shares of the company's stock, valued at $28,761,811.10. This represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,639,601 shares of company stock valued at $13,532,151 in the last ninety days. 22.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap

A number of hedge funds have recently added to or reduced their stakes in SNAP. Mountain Hill Investment Partners Corp. bought a new stake in shares of Snap during the fourth quarter valued at approximately $27,000. Raiffeisen Bank International AG purchased a new position in Snap during the 4th quarter worth $30,000. NBC Securities Inc. raised its position in Snap by 154,650.0% during the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock valued at $26,000 after purchasing an additional 3,093 shares in the last quarter. Rakuten Securities Inc. lifted its holdings 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 buying an additional 2,123 shares during the period. Finally, Quarry LP purchased a new stake in shares of Snap in the 1st quarter worth $34,000. 47.52% of the stock is currently owned by institutional investors.

Snap Price Performance

Shares of SNAP traded up $0.59 during mid-day trading on Wednesday, reaching $8.73. The stock had a trading volume of 63,282,310 shares, compared to its average volume of 30,221,749. The business has a fifty day moving average of $8.36 and a 200 day moving average of $9.53. 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 firm has a market cap of $14.59 billion, a price-to-earnings ratio of -28.17 and a beta of 0.59. Snap has a 12 month low of $7.08 and a 12 month high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last issued its 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). Snap had a negative return on equity of 21.53% and a negative net margin of 9.63%. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the company posted $0.03 EPS. The company's quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts predict that Snap will post -0.3 EPS for the current year.

About Snap

(Get Free Report

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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Analyst Recommendations for Snap (NYSE:SNAP)

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