Snap Inc. (NYSE:SNAP) Receives Average Recommendation of "Hold" from Analysts

Shares of Snap Inc. (NYSE:SNAP - Get Free Report) have been given an average recommendation of "Hold" by the twenty-nine brokerages that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $34.1615.

SNAP has been the topic of a number of recent analyst reports. Canaccord Genuity Group decreased their target price on shares of Snap from $10.00 to $9.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Sanford C. Bernstein boosted their price target on shares of Snap from $9.00 to $10.00 and gave the stock a "market perform" rating in a research note on Tuesday, July 22nd. Evercore ISI boosted their price target on shares of Snap from $11.00 to $12.00 and gave the stock an "in-line" rating in a research note on Wednesday, August 6th. TD Cowen boosted their price target on shares of Snap from $9.00 to $10.00 and gave the stock a "hold" rating in a research note on Tuesday, July 15th. Finally, Citigroup lowered shares of Snap from an "outperform" rating to a "negative" rating in a research note on Tuesday, July 15th.

Snap Trading Up 1.0%

NYSE SNAP traded up $0.07 during trading hours on Thursday, reaching $7.15. The company had a trading volume of 46,745,551 shares, compared to its average volume of 52,566,500. The stock has a 50-day moving average of $8.78 and a 200 day moving average of $8.99. Snap has a 1-year low of $7.06 and a 1-year high of $13.28. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $11.95 billion, a P/E ratio of -22.34 and a beta of 0.62.

Snap (NYSE:SNAP - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, meeting analysts' consensus estimates of ($0.16). Snap had a negative net margin of 9.69% and a negative return on equity of 23.32%. The company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Snap's revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, research analysts anticipate that Snap will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Derek Andersen sold 33,886 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $8.04, for a total value of $272,443.44. Following the completion of the transaction, the chief financial officer directly owned 3,204,418 shares of the company's stock, valued at $25,763,520.72. This represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ajit Mohan sold 28,201 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $9.40, for a total value of $265,089.40. Following the completion of the transaction, the insider directly owned 5,676,293 shares of the company's stock, valued at $53,357,154.20. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,202,570 shares of company stock valued at $9,525,096. 22.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. NBC Securities Inc. boosted its holdings in Snap by 154,650.0% in the first 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. Signaturefd LLC boosted its holdings in shares of Snap by 169.9% in the second quarter. Signaturefd LLC now owns 2,942 shares of the company's stock valued at $26,000 after acquiring an additional 1,852 shares during the period. Raiffeisen Bank International AG acquired a new stake in shares of Snap in the fourth quarter valued at approximately $30,000. Rakuten Securities Inc. boosted its holdings in shares of Snap by 155.4% in the first quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock valued at $30,000 after acquiring an additional 2,123 shares during the period. Finally, Quarry LP acquired a new stake in shares of Snap in the first quarter valued at approximately $34,000. 47.52% of the stock is owned by institutional investors and hedge funds.

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.