Shares of Snap Inc (NYSE:SNAP) have been given a consensus rating of “Hold” by the thirty-seven analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, twenty-one have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $16.73.
Several research firms have recently issued reports on SNAP. Pivotal Research restated a “buy” rating and set a $20.50 price objective on shares of Snap in a report on Wednesday, July 24th. Rosenblatt Securities restated a “buy” rating and set a $21.00 price objective on shares of Snap in a report on Monday, October 7th. Credit Suisse Group raised their price objective on Snap from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Bank of America upgraded Snap from a “neutral” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Friday. Finally, SunTrust Banks raised their price objective on Snap from $11.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th.
In other Snap news, General Counsel Michael J. O’sullivan sold 18,500 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $13.76, for a total value of $254,560.00. Following the transaction, the general counsel now directly owns 1,528,390 shares of the company’s stock, valued at $21,030,646.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jerry James Hunter sold 117,782 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $16.10, for a total value of $1,896,290.20. Following the completion of the transaction, the vice president now directly owns 1,614,425 shares in the company, valued at $25,992,242.50. The disclosure for this sale can be found here. Insiders sold 5,075,045 shares of company stock worth $86,802,372 in the last quarter.
A number of large investors have recently added to or reduced their stakes in SNAP. Marshall Wace LLP purchased a new position in Snap in the first quarter valued at about $406,000. DNB Asset Management AS purchased a new position in Snap in the second quarter valued at about $976,000. Gulf International Bank UK Ltd purchased a new position in Snap in the second quarter valued at about $2,352,000. Valeo Financial Advisors LLC raised its position in Snap by 400.0% in the second quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock valued at $36,000 after purchasing an additional 2,000 shares during the period. Finally, Xact Kapitalforvaltning AB raised its position in Snap by 157.1% in the second quarter. Xact Kapitalforvaltning AB now owns 123,720 shares of the company’s stock valued at $1,769,000 after purchasing an additional 75,606 shares during the period. 26.88% of the stock is currently owned by institutional investors.
Snap stock opened at $13.52 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.53 and a current ratio of 4.53. The stock has a fifty day moving average of $15.51 and a two-hundred day moving average of $14.14. The company has a market capitalization of $19.01 billion, a price-to-earnings ratio of -13.94 and a beta of 1.11. Snap has a fifty-two week low of $4.82 and a fifty-two week high of $18.36.
Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.21) by $0.02. The company had revenue of $388.02 million during the quarter, compared to the consensus estimate of $358.16 million. Snap had a negative return on equity of 46.46% and a negative net margin of 77.54%. Snap’s revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.14) earnings per share. On average, analysts forecast that Snap will post -0.71 EPS for the current fiscal year.
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
See Also: Buy-Side Analysts
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