Shares of Snap Inc (NYSE:SNAP) have earned an average rating of “Hold” from the thirty-six analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, twenty have given a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $16.37.
SNAP has been the topic of a number of research reports. Summit Insights upgraded Snap from a “hold” rating to a “buy” rating in a research report on Wednesday, July 24th. Canaccord Genuity raised their price target on Snap from $13.00 to $17.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Deutsche Bank raised their price target on Snap from $13.00 to $16.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Credit Suisse Group raised their price target on Snap from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, BTIG Research raised their price target on Snap from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th.
NYSE SNAP traded down $0.22 during trading hours on Wednesday, reaching $15.80. 20,247,352 shares of the stock traded hands, compared to its average volume of 27,885,643. The stock has a 50 day simple moving average of $16.21 and a two-hundred day simple moving average of $13.74. Snap has a 1 year low of $4.82 and a 1 year high of $18.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.53 and a quick ratio of 4.53. The company has a market cap of $22.10 billion, a price-to-earnings ratio of -16.29 and a beta of 1.12.
Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.02. Snap had a negative return on equity of 46.46% and a negative net margin of 77.54%. The business had revenue of $388.02 million for the quarter, compared to the consensus estimate of $358.16 million. During the same quarter last year, the business posted ($0.14) earnings per share. The company’s revenue for the quarter was up 48.0% on a year-over-year basis. On average, sell-side analysts forecast that Snap will post -0.71 EPS for the current fiscal year.
In related news, VP Jerry James Hunter sold 12,797 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $15.12, for a total value of $193,490.64. Following the sale, the vice president now directly owns 1,692,578 shares of the company’s stock, valued at $25,591,779.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Lynton sold 127,663 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $15.04, for a total value of $1,920,051.52. Following the completion of the sale, the director now directly owns 68,149 shares in the company, valued at $1,024,960.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,307,116 shares of company stock worth $90,390,947.
Several hedge funds and other institutional investors have recently bought and sold shares of SNAP. Vanguard Group Inc. grew its stake in shares of Snap by 12.0% in the second quarter. Vanguard Group Inc. now owns 59,173,892 shares of the company’s stock worth $846,186,000 after purchasing an additional 6,320,561 shares during the last quarter. BlackRock Inc. grew its stake in shares of Snap by 34.1% in the second quarter. BlackRock Inc. now owns 21,849,669 shares of the company’s stock worth $312,449,000 after purchasing an additional 5,561,652 shares during the last quarter. Hillhouse Capital Advisors LTD. bought a new stake in shares of Snap in the second quarter worth about $63,862,000. Price T Rowe Associates Inc. MD grew its stake in shares of Snap by 837.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,384,158 shares of the company’s stock worth $48,393,000 after purchasing an additional 3,023,183 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Snap in the second quarter worth about $36,518,000. 26.88% of the stock is currently owned by institutional investors.
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
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