Snap (NYSE:SNAP) Earns Neutral Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Snap (NYSE:SNAP) in a research report released on Thursday morning, MarketBeat.com reports. The firm issued a neutral rating and a $8.00 target price on the stock.

Other analysts also recently issued reports about the company. Wolfe Research initiated coverage on Snap in a research report on Tuesday, July 16th. They issued a peer perform rating for the company. Piper Sandler reissued a neutral rating and issued a $12.00 price objective (down previously from $15.00) on shares of Snap in a report on Friday, August 2nd. Citigroup dropped their price objective on shares of Snap from $16.00 to $11.00 and set a neutral rating on the stock in a report on Monday, August 12th. Benchmark reissued a hold rating on shares of Snap in a research report on Tuesday, August 6th. Finally, Roth Mkm dropped their price target on shares of Snap from $15.00 to $14.00 and set a neutral rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $13.87.

Snap Price Performance

Shares of NYSE:SNAP opened at $8.62 on Thursday. The company has a market capitalization of $14.30 billion, a P/E ratio of -10.64 and a beta of 1.00. The company’s 50-day moving average is $11.96 and its 200 day moving average is $12.93. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. Snap has a fifty-two week low of $8.28 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP) last released its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. On average, equities research analysts forecast that Snap will post -0.48 earnings per share for the current year.

Insider Transactions at Snap

In other news, Director Joanna Coles sold 3,950 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $15.17, for a total value of $59,921.50. Following the transaction, the director now owns 46,492 shares of the company’s stock, valued at approximately $705,283.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Joanna Coles sold 3,950 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $15.17, for a total value of $59,921.50. Following the transaction, the director now owns 46,492 shares of the company’s stock, valued at approximately $705,283.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $9.30, for a total transaction of $167,400.00. Following the completion of the transaction, the general counsel now directly owns 456,662 shares in the company, valued at approximately $4,246,956.60. The disclosure for this sale can be found here. Insiders have sold 1,356,370 shares of company stock valued at $12,151,603 in the last quarter. Insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several institutional investors and hedge funds have recently made changes to their positions in SNAP. NBC Securities Inc. grew its holdings in shares of Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after purchasing an additional 1,445 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of Snap during the 2nd quarter valued at $33,000. Blue Trust Inc. grew its holdings in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Snap during the 2nd quarter valued at $40,000. Finally, J.Safra Asset Management Corp grew its holdings in shares of Snap by 534.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after purchasing an additional 2,330 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

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.