Snap (NYSE:SNAP) Earns “Market Perform” Rating from JMP Securities

JMP Securities restated their market perform rating on shares of Snap (NYSE:SNAP) in a research report sent to investors on Wednesday, Benzinga reports.

Several other equities research analysts also recently issued reports on SNAP. Cantor Fitzgerald started coverage on shares of Snap in a research note on Thursday, September 5th. They set a neutral rating and a $8.00 price objective for the company. Barclays decreased their target price on shares of Snap from $17.00 to $16.00 and set an overweight rating for the company in a research note on Friday, August 2nd. Benchmark restated a hold rating on shares of Snap in a research note on Tuesday, August 6th. The Goldman Sachs Group decreased their target price on shares of Snap from $16.00 to $12.00 and set a neutral rating for the company in a research note on Friday, August 2nd. Finally, Bank of America cut their price target on shares of Snap from $16.00 to $13.00 and set a neutral rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Snap has an average rating of Hold and a consensus price target of $13.76.

Snap Stock Performance

NYSE:SNAP opened at $10.05 on Wednesday. The firm has a 50 day simple moving average of $10.58 and a 200-day simple moving average of $12.82. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The firm has a market cap of $16.68 billion, a PE ratio of -12.41 and a beta of 1.00. Snap has a 1-year low of $8.28 and a 1-year 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 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 business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. On average, equities analysts expect that Snap will post -0.48 EPS for the current year.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 59,053 shares of Snap stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $548,602.37. Following the completion of the sale, the general counsel now directly owns 1,258,278 shares in the company, valued at $11,689,402.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Derek Andersen sold 97,608 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the transaction, the chief financial officer now owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 59,053 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $548,602.37. Following the completion of the sale, the general counsel now directly owns 1,258,278 shares in the company, valued at approximately $11,689,402.62. The disclosure for this sale can be found here. Insiders sold 1,511,540 shares of company stock worth $13,569,906 over the last ninety days. 22.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snap

Several institutional investors and hedge funds have recently bought and sold shares of SNAP. Steward Partners Investment Advisory LLC lifted its position in Snap by 2.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after buying an additional 891 shares in the last quarter. GraniteShares Advisors LLC increased its stake in Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock worth $634,000 after purchasing an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. grew its stake in shares of Snap by 2.7% during the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after acquiring an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Snap by 4.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock worth $448,000 after acquiring an additional 1,048 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Snap by 6.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after buying an additional 1,232 shares during the last quarter. 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.