Roth Mkm Reiterates Neutral Rating for Snap (NYSE:SNAP)

Roth Mkm reaffirmed their neutral rating on shares of Snap (NYSE:SNAP) in a research note published on Wednesday, Benzinga reports. Roth Mkm currently has a $14.00 price target on the stock.

A number of other equities research analysts have also weighed in on SNAP. Citigroup cut their target price on shares of Snap from $16.00 to $11.00 and set a neutral rating on the stock in a research note on Monday, August 12th. Cantor Fitzgerald started coverage on Snap in a research note on Thursday, September 5th. They issued a neutral rating and a $8.00 target price for the company. Piper Sandler reaffirmed a neutral rating and issued a $12.00 price target (down from $15.00) on shares of Snap in a research note on Friday, August 2nd. Truist Financial decreased their price objective on Snap from $16.00 to $13.00 and set a hold rating for the company in a report on Friday, August 2nd. Finally, Barclays dropped their target price on shares of Snap from $17.00 to $16.00 and set an overweight rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Snap presently has an average rating of Hold and an average price target of $13.76.

Snap Stock Down 0.2 %

Shares of NYSE SNAP opened at $10.05 on Wednesday. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The business has a 50-day moving average of $10.58 and a 200-day moving average of $12.82. The firm has a market capitalization of $16.68 billion, a price-to-earnings ratio of -12.41 and a beta of 1.00. Snap has a 12 month low of $8.28 and a 12 month high of $17.90.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. Sell-side analysts expect that Snap will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Eric Young sold 114,097 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the sale, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at $27,710,096.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total value of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares in the company, valued at $508,832,634.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Young sold 114,097 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the sale, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at $27,710,096.53. The disclosure for this sale can be found here. Insiders have sold 1,511,540 shares of company stock worth $13,569,906 in the last ninety days. 22.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management acquired a new stake in shares of Snap in the second quarter worth $33,000. Blue Trust Inc. lifted its holdings in shares of Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Snap in the second quarter worth about $40,000. J.Safra Asset Management Corp raised its position in Snap by 534.4% during the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after acquiring an additional 2,330 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Snap in the fourth quarter valued at approximately $108,000. 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.