Snap (NYSE:SNAP) Receives Hold Rating from Benchmark

Benchmark restated their hold rating on shares of Snap (NYSE:SNAP) in a research note published on Friday morning, Benzinga reports.

SNAP has been the topic of several other research reports. Royal Bank of Canada upped their price target on Snap from $13.00 to $16.00 and gave the company a sector perform rating in a research note on Friday. Evercore ISI upped their price target on Snap from $13.00 to $14.00 and gave the company an in-line rating in a research note on Friday. Piper Sandler increased their target price on Snap from $12.00 to $17.00 and gave the company a neutral rating in a research note on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft raised Snap from a hold rating to a buy rating and increased their target price for the company from $10.00 to $19.00 in a research note on Friday, January 26th. Finally, BMO Capital Markets cut their target price on Snap from $22.00 to $20.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Snap presently has an average rating of Hold and an average price target of $14.67.

Snap Price Performance

Snap stock opened at $14.53 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The firm has a market cap of $23.98 billion, a P/E ratio of -17.94 and a beta of 1.13. The business’s fifty day moving average is $11.26 and its two-hundred day moving average is $12.84. Snap has a 52 week low of $7.86 and a 52 week high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Equities research analysts forecast that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the transaction, the general counsel now directly owns 474,812 shares in the company, valued at $5,474,582.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Eric Young sold 120,472 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the sale, the senior vice president now directly owns 3,540,852 shares of the company’s stock, valued at $39,409,682.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now directly owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The disclosure for this sale can be found here. Insiders sold a total of 470,482 shares of company stock worth $5,284,091 over the last ninety days. 22.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Snap

A number of hedge funds have recently made changes to their positions in the business. Sowell Financial Services LLC lifted its position in shares of Snap by 3.3% in the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock valued at $392,000 after buying an additional 729 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after buying an additional 891 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its position in shares of Snap by 3.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock valued at $533,000 after buying an additional 1,000 shares during the last quarter. Impax Asset Management Group plc lifted its position in shares of Snap by 4.5% in the third quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock valued at $209,000 after buying an additional 1,017 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Snap by 7.1% in the third quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock valued at $137,000 after buying an additional 1,025 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

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.