Snap (NYSE:SNAP) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Snap (NYSE:SNAP) from a buy rating to a hold rating in a research note released on Sunday morning.

A number of other research analysts also recently issued reports on the stock. Citigroup boosted their target price on shares of Snap from $6.00 to $7.00 and gave the company a “neutral” rating in a research report on Wednesday, April 15th. Morgan Stanley dropped their target price on shares of Snap from $9.50 to $6.50 and set an “equal weight” rating on the stock in a research report on Sunday, February 22nd. B. Riley Financial upgraded shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, February 5th. BMO Capital Markets boosted their target price on shares of Snap from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. Finally, Loop Capital set a $8.00 target price on shares of Snap in a research report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $7.91.

Snap Stock Down 0.1%

Snap stock opened at $5.53 on Friday. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.67. Snap has a 12-month low of $3.81 and a 12-month high of $10.41. The firm’s fifty day moving average is $5.19 and its 200 day moving average is $6.49. The company has a market capitalization of $9.33 billion, a PE ratio of -23.02 and a beta of 1.05.

Snap (NYSE:SNAP) last released its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the previous year, the firm earned ($0.08) EPS. The firm’s revenue was up 12.2% on a year-over-year basis. As a group, sell-side analysts predict that Snap will post -0.07 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Zachary M. Briers sold 11,437 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $6.04, for a total transaction of $69,079.48. Following the completion of the sale, the general counsel owned 2,774,031 shares in the company, valued at approximately $16,755,147.24. The trade was a 0.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Derek Andersen sold 92,956 shares of the business’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $4.59, for a total transaction of $426,668.04. Following the sale, the chief financial officer owned 3,799,661 shares of the company’s stock, valued at $17,440,443.99. This trade represents a 2.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,565,573 shares of company stock worth $13,579,781 in the last ninety days.

Institutional Trading of Snap

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP grew its stake in shares of Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after acquiring an additional 1,581 shares in the last quarter. Arax Advisory Partners grew its stake in shares of Snap by 220.0% in the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock worth $27,000 after acquiring an additional 2,275 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Snap in the 4th quarter worth $29,000. EverSource Wealth Advisors LLC grew its stake in shares of Snap by 561.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after acquiring an additional 3,071 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Snap in the 3rd quarter worth $33,000. Institutional investors 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.