Snap Inc. (NYSE:SNAP) Stock Now Rated “Hold” by Wall Street Analysts

Snap Inc. (NYSE:SNAP) has been assigned a consensus rating of “Hold” from the thirty-six brokerages that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $7.68.

A number of equities analysts have recently commented on SNAP shares. DA Davidson raised their price objective on shares of Snap from $5.00 to $5.25 and gave the stock a “neutral” rating in a report on Tuesday, August 4th. Benchmark reiterated a “hold” rating on shares of Snap in a research report on Tuesday, August 4th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $8.00 target price on shares of Snap in a research note on Thursday, September 17th. Guggenheim reissued a “neutral” rating on shares of Snap in a research note on Wednesday, September 2nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a research report on Thursday.

Insider Buying and Selling

In other Snap news, CFO Douglas Hott sold 131,884 shares of Snap stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.20, for a total value of $685,796.80. Following the completion of the transaction, the chief financial officer owned 2,324,563 shares in the company, valued at approximately $12,087,727.60. The trade was a 5.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ajit Mohan sold 6,797 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $5.82, for a total transaction of $39,558.54. Following the transaction, the insider owned 4,965,300 shares in the company, valued at approximately $28,898,046. This trade represents a 0.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 2,445,926 shares of company stock worth $13,426,930 in the last three months.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SNAP. Net Worth Advisory Group grew its position in shares of Snap by 148.5% in the 3rd quarter. Net Worth Advisory Group now owns 77,799 shares of the company’s stock valued at $440,000 after purchasing an additional 46,496 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Snap by 19.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 74,208 shares of the company’s stock valued at $401,000 after buying an additional 12,311 shares during the last quarter. SteelPeak Wealth LLC increased its position in shares of Snap by 29.2% in the third quarter. SteelPeak Wealth LLC now owns 20,913 shares of the company’s stock valued at $113,000 after acquiring an additional 4,725 shares during the last quarter. NFSG Corp raised its stake in shares of Snap by 58.0% during the 3rd quarter. NFSG Corp now owns 16,356 shares of the company’s stock worth $88,000 after purchasing an additional 6,001 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Snap by 278.5% during the third quarter. Assenagon Asset Management S.A. now owns 14,771,533 shares of the company’s stock worth $79,766,000 after acquiring an additional 10,868,392 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Stock Up 2.5%

Shares of Snap stock opened at $6.29 on Tuesday. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.75. Snap has a 12-month low of $3.81 and a 12-month high of $9.13. The firm has a market capitalization of $10.63 billion, a PE ratio of -34.91 and a beta of 1.07. The stock’s fifty day moving average is $5.61 and its 200-day moving average is $5.36.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.02. The firm had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Snap had a negative return on equity of 14.61% and a negative net margin of 4.90%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.16) EPS. Equities analysts anticipate that Snap will post -0.02 earnings per share for the current year.

About Snap

Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, messages and Stories, while offering creative tools such as augmented reality (AR) Lenses and filters. The platform also includes features such as Snap Map, Spotlight and content from publishers and creators.

Snap generates most of its revenue from digital advertising, including video, augmented reality and other advertising formats delivered across Snapchat.