Snap’s (SNAP) Neutral Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Snap (NYSE:SNAP) in a research note issued to investors on Wednesday morning, Benzinga reports. Piper Sandler currently has a $13.00 price objective on the stock, up from their previous price objective of $12.00.

A number of other equities research analysts have also recently weighed in on SNAP. Citigroup decreased their price objective on Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Truist Financial decreased their price target on shares of Snap from $16.00 to $13.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. HSBC downgraded shares of Snap from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Roth Mkm restated a “neutral” rating and issued a $14.00 target price on shares of Snap in a research note on Wednesday, September 18th. Finally, Argus raised shares of Snap to a “hold” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $14.25.

Snap Price Performance

Shares of SNAP opened at $12.60 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The company has a 50 day moving average price of $9.99 and a 200-day moving average price of $12.69. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The stock has a market capitalization of $20.68 billion, a PE ratio of -15.56 and a beta of 1.01.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. Equities analysts predict that Snap will post -0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other news, SVP Eric Young sold 114,097 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the sale, the senior vice president now owns 3,041,723 shares in the company, valued at $27,710,096.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eric Young sold 114,097 shares of the business’s 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 completion of the transaction, the senior vice president now owns 3,041,723 shares in the company, valued at $27,710,096.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,490,617 shares of company stock worth $13,183,890. Insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Institutional investors have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in Snap in the second quarter worth approximately $33,000. Blue Trust Inc. lifted its stake 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 purchasing an additional 1,682 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Snap in the 2nd quarter valued at $40,000. V Square Quantitative Management LLC purchased a new position in shares of Snap during the 3rd quarter worth $29,000. Finally, Paladin Wealth LLC acquired a new stake in shares of Snap during the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.