Snap’s (SNAP) “Neutral” Rating Reaffirmed at Roth Mkm

Roth Mkm reiterated their neutral rating on shares of Snap (NYSE:SNAP) in a report issued on Tuesday morning, Benzinga reports. They currently have a $14.00 price objective on the stock.

Other research analysts have also recently issued reports about the company. Morgan Stanley lowered their price target on Snap from $13.00 to $11.00 and set an underweight rating on the stock in a report on Wednesday, February 7th. Stifel Nicolaus lowered their price target on Snap from $14.00 to $12.00 and set a hold rating on the stock in a report on Tuesday, April 16th. UBS Group lowered their price target on Snap from $14.00 to $13.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. BMO Capital Markets lowered their price target on Snap from $22.00 to $20.00 and set an outperform rating on the stock in a report on Wednesday, February 7th. Finally, Wells Fargo & Company decreased their price objective on Snap from $22.00 to $16.00 and set an overweight rating on the stock in a report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $14.67.

Snap Trading Up 27.5 %

Snap stock opened at $14.53 on Tuesday. Snap has a 52-week low of $7.86 and a 52-week high of $17.90. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. The company has a market cap of $23.98 billion, a P/E ratio of -17.55 and a beta of 1.13. The business has a 50-day simple moving average of $11.19 and a two-hundred day simple moving average of $12.79.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Analysts predict that Snap will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the transaction, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the sale, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Evan Spiegel sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total value of $1,666,500.00. Following the completion of the sale, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 470,482 shares of company stock worth $5,284,091. Company insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. NBC Securities Inc. raised its position in shares of Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after buying an additional 1,445 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Snap by 75.0% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock worth $31,000 after buying an additional 1,500 shares during the period. Allworth Financial LP raised its position in shares of Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after buying an additional 1,708 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of Snap in the 4th quarter worth $51,000. Finally, Rakuten Securities Inc. purchased a new position in shares of Snap in the 4th quarter worth $73,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

About Snap

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.