Snap Inc. (NYSE:SNAP)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $12.15, but opened at $11.78. Snap shares last traded at $11.68, with a volume of 4,451,002 shares trading hands.
A number of brokerages recently issued reports on SNAP. Bank of America raised their price objective on Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI boosted their price target on shares of Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Roth Mkm restated a “neutral” rating and issued a $14.00 price objective on shares of Snap in a report on Wednesday, September 18th. The Goldman Sachs Group lifted their target price on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Piper Sandler restated a “neutral” rating and set a $13.00 price target (up from $12.00) on shares of Snap in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.99.
Snap Stock Down 5.2 %
The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The business has a 50 day moving average of $11.58 and a 200-day moving average of $11.40. The stock has a market cap of $18.83 billion, a PE ratio of -19.35 and a beta of 0.98.
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 net margin of 18.49% and a negative return on equity of 35.60%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the firm posted ($0.21) earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. Equities research analysts predict that Snap Inc. will post -0.39 EPS for the current fiscal year.
Insider Activity
In other Snap news, Director Joanna Coles sold 6,434 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the sale, the director now directly owns 54,761 shares of the company’s stock, valued at $657,132. This represents a 10.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Micheal J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total value of $195,120.00. Following the completion of the transaction, the general counsel now owns 498,498 shares in the company, valued at $5,403,718.32. This trade represents a 3.49 % decrease in their ownership of the stock. Over the last three months, insiders sold 1,451,618 shares of company stock valued at $17,560,157.
Hedge Funds Weigh In On Snap
A number of large investors have recently bought and sold shares of the company. Hollencrest Capital Management acquired a new position in shares of Snap during the second quarter worth about $33,000. V Square Quantitative Management LLC acquired a new position in Snap during the 3rd quarter worth approximately $29,000. Paladin Wealth LLC acquired a new position in Snap during the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. lifted its holdings in shares of Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after buying an additional 1,632 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Snap during the third quarter worth about $41,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.
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.
Should You Invest $1,000 in Snap Right Now?
Before you consider Snap, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Snap wasn’t on the list.
While Snap currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: MarketBeat