Snap Inc. (NYSE:SNAP) Given Average Rating of “Hold” by Analysts

Snap Inc. (NYSE:SNAP) has received a consensus rating of “Hold” from the thirty-two brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, twenty-four have issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $13.77.

SNAP has been the topic of several recent research reports. Roth Mkm reaffirmed a “neutral” rating and set a $14.00 target price on shares of Snap in a report on Wednesday, September 18th. Bank of America lowered their target price on shares of Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. JMP Securities reaffirmed a “market perform” rating on shares of Snap in a report on Wednesday, September 18th. JPMorgan Chase & Co. decreased their price objective on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Finally, Wolfe Research initiated coverage on shares of Snap in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock.

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total transaction of $239,040.00. Following the transaction, the general counsel now owns 463,908 shares in the company, valued at approximately $6,160,698.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Michael J. O’sullivan sold 59,053 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $548,602.37. Following the transaction, the general counsel now owns 1,258,278 shares in the company, valued at $11,689,402.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total transaction of $239,040.00. Following the completion of the transaction, the general counsel now owns 463,908 shares in the company, valued at approximately $6,160,698.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,510,352 shares of company stock worth $13,446,353. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Snap by 3,391.5% during the third quarter. International Assets Investment Management LLC now owns 24,685 shares of the company’s stock valued at $264,000 after purchasing an additional 23,978 shares during the period. TB Alternative Assets Ltd. raised its holdings in shares of Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the period. DMC Group LLC raised its holdings in shares of Snap by 16.4% during the third quarter. DMC Group LLC now owns 18,132 shares of the company’s stock valued at $194,000 after purchasing an additional 2,549 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Snap during the third quarter valued at about $29,000. Finally, Avaii Wealth Management LLC raised its holdings in shares of Snap by 271.9% during the third quarter. Avaii Wealth Management LLC now owns 43,037 shares of the company’s stock valued at $461,000 after purchasing an additional 31,465 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Trading Down 3.3 %

Shares of SNAP stock opened at $9.99 on Friday. Snap has a 12-month low of $8.29 and a 12-month high of $17.90. The firm has a 50 day moving average price of $9.87 and a two-hundred day moving average price of $12.71. The company has a market capitalization of $16.57 billion, a PE ratio of -13.87 and a beta of 1.01. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74.

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

About Snap

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.