Shares of Snap Inc. (NYSE:SNAP – Get Free Report) have received an average recommendation of “Hold” from the thirty-two analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, twenty-two have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $36.99.
SNAP has been the topic of a number of research analyst reports. Royal Bank of Canada reissued a “sector perform” rating and set a $16.00 price objective on shares of Snap in a research report on Wednesday, October 30th. JMP Securities reaffirmed a “market outperform” rating and set a $16.00 price objective on shares of Snap in a report on Monday. Benchmark reaffirmed a “hold” rating on shares of Snap in a report on Friday, October 25th. BMO Capital Markets restated an “outperform” rating and set a $16.00 price objective (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $640.00 target price on shares of Snap in a research note on Thursday, December 5th.
Read Our Latest Stock Report on SNAP
Snap Stock Down 2.5 %
Snap (NYSE:SNAP – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company’s revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.21) earnings per share. Equities analysts predict that Snap will post -0.39 EPS for the current year.
Insider Buying and Selling
In other news, SVP Eric Young sold 112,020 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the transaction, the senior vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.54, for a total value of $129,800.10. Following the completion of the sale, the general counsel now directly owns 1,195,567 shares of the company’s stock, valued at $12,601,276.18. The trade was a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 427,184 shares of company stock valued at $4,761,369 over the last three months. 22.68% of the stock is owned by company insiders.
Institutional Investors Weigh In On Snap
Several institutional investors and hedge funds have recently modified their holdings of SNAP. Geode Capital Management LLC raised its stake in Snap by 5.2% in the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after buying an additional 575,324 shares in the last quarter. TB Alternative Assets Ltd. lifted its stake in shares of Snap by 105.6% in the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after purchasing an additional 2,386,519 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Snap by 49.6% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after purchasing an additional 1,297,348 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Snap by 0.5% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company’s stock worth $34,950,000 after purchasing an additional 15,294 shares in the last quarter. 47.52% of the stock is 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.
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