Snap’s (SNAP) “Outperform” Rating Reiterated at Raymond James

Raymond James restated their outperform rating on shares of Snap (NYSE:SNAP) in a research report sent to investors on Friday, Benzinga reports. Raymond James currently has a $16.00 price objective on the stock, up from their previous price objective of $15.00.

A number of other analysts have also commented on SNAP. TD Cowen lifted their price target on Snap from $11.00 to $14.00 and gave the stock a hold rating in a report on Friday. BMO Capital Markets decreased their target price on Snap from $22.00 to $20.00 and set an outperform rating for the company in a research report on Wednesday, February 7th. Susquehanna boosted their price target on shares of Snap from $9.50 to $12.00 and gave the stock a neutral rating in a report on Wednesday, February 7th. Truist Financial raised their price objective on shares of Snap from $12.00 to $16.00 and gave the stock a hold rating in a report on Friday. Finally, HSBC upgraded shares of Snap from a reduce rating to a buy rating in a research note on Friday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Snap has an average rating of Hold and an average price target of $14.79.

Snap Stock Down 0.4 %

Shares of NYSE SNAP opened at $14.49 on Friday. 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 firm has a market cap of $23.92 billion, a PE ratio of -17.89 and a beta of 1.13. The company’s fifty day simple moving average is $11.33 and its 200 day simple moving average is $12.93. Snap has a 12-month low of $7.86 and a 12-month high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative net margin of 26.99% and a negative return on equity of 45.02%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. As a group, sell-side analysts forecast that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other news, CAO Rebecca Morrow sold 2,442 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.00, for a total transaction of $26,862.00. Following the transaction, the chief accounting officer now owns 493,084 shares of the company’s stock, valued at approximately $5,423,924. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the transaction, the general counsel now directly owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 2,442 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the transaction, the chief accounting officer now directly owns 493,084 shares in the company, valued at approximately $5,423,924. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock worth $5,284,091 over the last ninety days. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Institutional investors and hedge funds have recently bought and sold shares of the company. SRS Investment Management LLC increased its stake in shares of Snap by 23.6% during the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after buying an additional 12,452,415 shares during the period. Carmignac Gestion bought a new stake in shares of Snap in the 4th quarter valued at about $110,103,000. Contrarius Investment Management Ltd bought a new stake in shares of Snap in the 4th quarter valued at about $80,644,000. Vanguard Group Inc. lifted its position in shares of Snap by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after purchasing an additional 3,503,230 shares during the period. Finally, TB Alternative Assets Ltd. boosted its stake in shares of Snap by 144.5% during the first quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock valued at $58,488,000 after purchasing an additional 3,011,400 shares in the last quarter. 47.52% of the stock is owned by institutional investors.

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.