Snap’s (SNAP) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of Snap (NYSE:SNAP) in a report published on Friday,Benzinga reports. The brokerage currently has a $16.00 price target on the stock.

Other research analysts also recently issued reports about the stock. The Goldman Sachs Group lifted their target price on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 target price on shares of Snap in a research report on Wednesday, October 30th. Bank of America boosted their target price on Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Evercore ISI lifted their price target on Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, Citigroup raised their price objective on shares of Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, November 29th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.10.

Snap Trading Up 6.5 %

Snap stock opened at $11.97 on Friday. The firm has a market cap of $20.08 billion, a price-to-earnings ratio of -20.64 and a beta of 0.98. Snap has a 1 year low of $8.29 and a 1 year high of $17.75. The firm’s 50 day moving average price is $11.54 and its two-hundred day moving average price is $11.63. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the firm earned ($0.21) earnings per share. Snap’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, research analysts predict that Snap will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, Director Joanna Coles sold 6,434 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total value of $77,208.00. Following the completion of the sale, the director now owns 54,761 shares in the company, valued at approximately $657,132. This trade represents a 10.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 94,164 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the completion of the transaction, the chief financial officer now owns 2,193,806 shares of the company’s stock, valued at $25,097,140.64. This trade represents a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,451,618 shares of company stock valued at $17,560,157 in the last 90 days. 22.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snap

A number of institutional investors and hedge funds have recently modified their holdings of SNAP. Rothschild Investment LLC acquired a new position in shares of Snap in the 2nd quarter valued at $40,000. CIBC Asset Management Inc raised its holdings in Snap by 41.1% in the second quarter. CIBC Asset Management Inc now owns 45,322 shares of the company’s stock worth $753,000 after purchasing an additional 13,208 shares during the period. TD Asset Management Inc increased its position in shares of Snap by 2.1% in the 2nd quarter. TD Asset Management Inc now owns 167,755 shares of the company’s stock valued at $2,786,000 after buying an additional 3,376 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Snap during the second quarter worth about $693,000. Finally, Caprock Group LLC bought a new position in Snap in the second quarter valued at approximately $1,036,000. 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.