Snap (NYSE:SNAP) Receives Outperform Rating from BMO Capital Markets

Snap (NYSE:SNAP)‘s stock had its “outperform” rating reissued by stock analysts at BMO Capital Markets in a research note issued on Wednesday,Benzinga reports. They currently have a $16.00 price target on the stock, down from their prior price target of $18.00. BMO Capital Markets’ target price would suggest a potential upside of 30.83% from the company’s previous close.

Several other research analysts have also recently commented on SNAP. Guggenheim restated a “buy” rating and issued a $12.11 target price on shares of Snap in a research report on Tuesday, December 3rd. Canaccord Genuity Group raised their target price on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a research report on Friday, November 29th. Loop Capital increased their price target on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their price objective on shares of Snap from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus price target of $36.99.

Snap Stock Up 7.8 %

Shares of SNAP traded up $0.89 during midday trading on Wednesday, hitting $12.23. The company had a trading volume of 13,608,164 shares, compared to its average volume of 27,463,961. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap has a 52 week low of $8.29 and a 52 week high of $17.50. The company’s 50 day moving average price is $11.57 and its 200 day moving average price is $11.40. The stock has a market cap of $20.51 billion, a price-to-earnings ratio of -21.09 and a beta of 0.98.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 15.4% on a year-over-year basis. On average, equities research analysts predict that Snap will post -0.4 EPS for the current year.

Insider Transactions at Snap

In other Snap news, CAO Rebecca Morrow sold 2,812 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $32,169.28. Following the completion of the sale, the chief accounting officer now owns 430,252 shares in the company, valued at $4,922,082.88. This represents a 0.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the transaction, the chief technology officer now owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,451,618 shares of company stock valued at $17,560,157 over the last ninety days. Corporate insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SNAP. HCR Wealth Advisors grew its stake in shares of Snap by 3.9% in the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock valued at $269,000 after buying an additional 934 shares in the last quarter. Metis Global Partners LLC lifted its stake in Snap by 6.9% in the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after acquiring an additional 1,255 shares during the last quarter. Intech Investment Management LLC grew its position in Snap by 1.9% in the third quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock worth $830,000 after acquiring an additional 1,433 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Snap by 6.8% during the 3rd quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock worth $270,000 after purchasing an additional 1,614 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares in the last quarter. 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.