Snap (NYSE:SNAP) Receives "Market Perform" Rating from JMP Securities

Key Points

• JMP Securities has reaffirmed a "market perform" rating for Snap's stock amidst varied target price adjustments by other brokerages.
• Snap's stock recently traded at $7.77, down from a 52-week high of $13.28, reflecting ongoing volatility in the market.
• Insider transactions have been notable, with significant sales from the General Counsel and CFO, indicating potential concerns about the company's outlook among leadership.

Snap (NYSE:SNAP - Get Free Report)'s stock had its "market perform" rating reiterated by investment analysts at JMP Securities in a research note issued on Wednesday,Benzinga reports.

A number of other equities research analysts have also recently commented on SNAP. Citizens Jmp restated a "market perform" rating on shares of Snap in a research report on Wednesday. Evercore ISI raised their price objective on Snap from $11.00 to $12.00 and gave the company an "in-line" rating in a report on Wednesday. BMO Capital Markets cut their price objective on Snap from $13.00 to $12.00 and set an "outperform" rating for the company in a research report on Wednesday. Cantor Fitzgerald reiterated a "neutral" rating and set a $7.00 target price on shares of Snap in a research report on Wednesday. Finally, Rosenblatt Securities dropped their price target on shares of Snap from $12.00 to $9.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $34.16.

Snap Stock Performance

Shares of NYSE SNAP traded down $0.12 during midday trading on Wednesday, reaching $7.43. 14,820,184 shares of the stock were exchanged, compared to its average volume of 36,095,176. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 1.55. The firm has a market cap of $12.41 billion, a price-to-earnings ratio of -23.20 and a beta of 0.62. The firm has a 50-day simple moving average of $8.91 and a two-hundred day simple moving average of $9.13. Snap has a twelve month low of $7.08 and a twelve month high of $13.28.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) EPS for the quarter, meeting the consensus estimate of ($0.16). Snap had a negative net margin of 9.69% and a negative return on equity of 22.68%. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business earned ($0.15) earnings per share. The firm's revenue was up 8.7% on a year-over-year basis. As a group, analysts anticipate that Snap will post -0.3 EPS for the current fiscal year.

Insider Transactions at Snap

In other Snap news, CFO Derek Andersen sold 33,886 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were 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 in the company, valued at $25,763,520.72. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Ajit Mohan sold 28,201 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $9.40, for a total transaction 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 represents a 0.49% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 667,802 shares of company stock worth $5,813,801. Corporate insiders own 22.68% of the company's stock.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently bought and sold shares of the business. NBC Securities Inc. raised its stake in shares of Snap by 154,650.0% during the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after purchasing an additional 3,093 shares in the last quarter. Signaturefd LLC increased its position in Snap by 169.9% during the second 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. Raiffeisen Bank International AG acquired a new stake in Snap during the fourth quarter worth about $30,000. Rakuten Securities Inc. increased its position in shares of Snap by 155.4% during the first quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock valued at $30,000 after purchasing an additional 2,123 shares during the period. Finally, Quarry LP bought a new stake in Snap in the 1st quarter valued at $34,000. 47.52% of the stock is currently 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.