Snap’s (SNAP) “Buy” Rating Reiterated at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Snap (NYSE:SNAP) in a research report sent to investors on Tuesday morning,Benzinga reports. Guggenheim currently has a $12.11 price objective on the stock.

Other equities analysts have also issued research reports about the company. Citigroup raised their price target on Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a research note on Friday, November 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 target price on shares of Snap in a research note on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Snap in a research note on Friday, October 25th. Finally, UBS Group lifted their target price on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $37.10.

Snap Stock Performance

SNAP stock opened at $12.16 on Tuesday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The business’s fifty day simple moving average is $11.20 and its two-hundred day simple moving average is $12.24. Snap has a twelve month low of $8.29 and a twelve month high of $17.90. The firm has a market cap of $20.39 billion, a price-to-earnings ratio of -20.96 and a beta of 0.97.

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

Insider Activity at Snap

In related news, CAO Rebecca Morrow sold 11,154 shares of Snap stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $117,674.70. Following the completion of the transaction, the chief accounting officer now directly owns 465,064 shares in the company, valued at approximately $4,906,425.20. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 59,053 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 1,258,278 shares of the company’s stock, valued at $11,689,402.62. This trade represents a 4.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,406,709 shares of company stock worth $16,662,107. 22.68% of the stock is owned by corporate insiders.

Institutional Trading of Snap

A number of institutional investors and hedge funds have recently made changes to their positions in SNAP. Cetera Advisors LLC increased its position in shares of Snap by 32.0% in the first quarter. Cetera Advisors LLC now owns 18,631 shares of the company’s stock valued at $214,000 after buying an additional 4,517 shares in the last quarter. CWM LLC increased its position in shares of Snap by 83.3% in the second quarter. CWM LLC now owns 97,721 shares of the company’s stock valued at $1,623,000 after buying an additional 44,405 shares in the last quarter. Curated Wealth Partners LLC increased its position in shares of Snap by 200.0% in the second quarter. Curated Wealth Partners LLC now owns 536,541 shares of the company’s stock valued at $8,912,000 after buying an additional 1,073,082 shares in the last quarter. Wedmont Private Capital increased its position in shares of Snap by 6.9% in the second quarter. Wedmont Private Capital now owns 29,394 shares of the company’s stock valued at $476,000 after buying an additional 1,894 shares in the last quarter. Finally, DMC Group LLC increased its position in shares of Snap by 10.5% during the second quarter. DMC Group LLC now owns 15,583 shares of the company’s stock worth $259,000 after purchasing an additional 1,477 shares in 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.