Citizens Jmp Downgrades Snap (NYSE:SNAP) to Hold

Citizens Jmp cut shares of Snap (NYSE:SNAP) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Canaccord Genuity Group upped 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. Cantor Fitzgerald boosted their price target on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $16.00 price target (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. Truist Financial boosted their price target on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered their price target on Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $36.87.

Snap Price Performance

Shares of SNAP opened at $10.68 on Wednesday. The stock has a market cap of $17.90 billion, a P/E ratio of -18.40 and a beta of 0.99. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock’s 50-day moving average price is $11.51 and its two-hundred day moving average price is $10.89. Snap has a 1 year low of $8.29 and a 1 year high of $17.33.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. On average, equities analysts predict that Snap will post -0.39 earnings per share for the current year.

Insider Buying and Selling at Snap

In related news, CFO Derek Andersen sold 94,164 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the completion of the transaction, the chief financial officer now directly owns 2,193,806 shares in the company, valued at $25,097,140.64. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eric Young sold 112,020 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $1,181,811.00. Following the transaction, the senior vice president now owns 2,791,048 shares of the company’s stock, valued at approximately $29,445,556.40. The trade was a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 445,184 shares of company stock worth $4,968,189 over the last ninety days.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently modified their holdings of SNAP. Checchi Capital Advisers LLC lifted its stake in shares of Snap by 3.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock valued at $335,000 after acquiring an additional 901 shares during the last quarter. HCR Wealth Advisors lifted 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 acquiring an additional 934 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock valued at $384,000 after acquiring an additional 1,055 shares during the last quarter. Metis Global Partners LLC raised its position in Snap by 6.9% during the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock valued at $207,000 after purchasing an additional 1,255 shares during the last quarter. Finally, Gradient Investments LLC raised its position in Snap by 0.9% during the 4th quarter. Gradient Investments LLC now owns 142,144 shares of the company’s stock valued at $1,531,000 after purchasing an additional 1,310 shares during the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

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.