Brokerages Set Snap Inc. (NYSE:SNAP) PT at $7.65

Snap Inc. (NYSE:SNAP) has earned a consensus rating of “Hold” from the thirty-six research firms that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, twenty-three have given a hold rating, eight have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $7.6483.

Several equities research analysts recently weighed in on the stock. DA Davidson increased their price objective on shares of Snap from $5.00 to $5.25 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. reduced their price target on Snap from $7.00 to $6.00 and set an “underweight” rating for the company in a research report on Thursday, May 7th. BMO Capital Markets reissued an “outperform” rating on shares of Snap in a research note on Tuesday, August 4th. UBS Group set a $6.00 price objective on shares of Snap in a report on Tuesday, August 4th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a research note on Friday, July 17th.

Snap Stock Performance

Shares of NYSE:SNAP opened at $5.43 on Monday. The company has a market cap of $9.18 billion, a P/E ratio of -30.16 and a beta of 1.03. Snap has a one year low of $3.81 and a one year high of $9.28. The business’s 50-day simple moving average is $4.91 and its 200 day simple moving average is $5.13. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.94 and a current ratio of 2.94.

Snap (NYSE:SNAP) last released its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. Snap had a negative net margin of 4.90% and a negative return on equity of 14.61%. The business’s revenue was up 18.9% on a year-over-year basis. During the same period last year, the business earned ($0.16) EPS. On average, sell-side analysts forecast that Snap will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Ajit Mohan sold 54,608 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.20, for a total value of $283,961.60. Following the completion of the transaction, the insider owned 4,972,097 shares in the company, valued at $25,854,904.40. This trade represents a 1.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Zachary M. Briers sold 136,504 shares of Snap stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $5.20, for a total value of $709,820.80. Following the completion of the transaction, the general counsel directly owned 2,424,331 shares in the company, valued at $12,606,521.20. This represents a 5.33% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 2,426,753 shares of company stock worth $13,323,208.

Institutional Investors Weigh In On Snap

Large investors have recently made changes to their positions in the company. Allworth Financial LP grew its position in Snap by 92.3% during the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after purchasing an additional 1,581 shares in the last quarter. Arax Advisory Partners lifted its holdings in shares of Snap by 220.0% in the fourth quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock valued at $27,000 after purchasing an additional 2,275 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Snap by 561.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock valued at $29,000 after purchasing an additional 3,071 shares in the last quarter. Fifth Third Bancorp boosted its position in shares of Snap by 6,678.0% in the first quarter. Fifth Third Bancorp now owns 6,778 shares of the company’s stock worth $31,000 after buying an additional 6,678 shares during the period. Finally, NFSG Corp boosted its position in shares of Snap by 52.7% in the first quarter. NFSG Corp now owns 8,400 shares of the company’s stock worth $39,000 after buying an additional 2,900 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.