Snap (NYSE:SNAP) Receives Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Snap (NYSE:SNAP) in a report issued on Monday, Benzinga reports. They currently have a $8.00 price objective on the stock.

Other research analysts have also issued reports about the company. Truist Financial lowered their price objective on Snap from $16.00 to $13.00 and set a hold rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reissued a buy rating and issued a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. Roth Mkm reaffirmed a neutral rating and set a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. HSBC downgraded shares of Snap from a buy rating to a hold rating in a research report on Friday, August 2nd. Finally, Morgan Stanley upgraded shares of Snap from an underweight rating to an equal weight rating and raised their price target for the stock from $12.00 to $16.00 in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $13.85.

Snap Stock Performance

NYSE SNAP opened at $10.66 on Monday. Snap has a 1 year low of $8.29 and a 1 year high of $17.90. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The firm’s 50 day simple moving average is $9.59 and its 200 day simple moving average is $12.72.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. On average, equities analysts expect that Snap will post -0.47 earnings per share for the current fiscal year.

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 dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the transaction, the chief technology officer now directly owns 58,553,813 shares in the company, valued at $508,832,634.97. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the transaction, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the transaction, the general counsel now owns 489,058 shares in the company, valued at $5,286,716.98. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,510,352 shares of company stock valued at $13,446,353. 22.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap

Institutional investors and hedge funds have recently modified their holdings of the company. APG Asset Management N.V. grew its position in shares of Snap by 3.9% during the second quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock valued at $45,835,000 after purchasing an additional 112,135 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Snap by 72.7% during the 4th quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after buying an additional 4,679 shares during the last quarter. Alta Park Capital LP purchased a new position in shares of Snap in the fourth quarter worth $13,845,000. Quadrature Capital Ltd purchased a new stake in Snap during the 1st quarter valued at about $3,233,000. Finally, Marshall Wace LLP boosted its holdings in shares of Snap by 587.3% in the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after acquiring an additional 12,533,653 shares during the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

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.