Snap (NYSE:SNAP) Upgraded at Susquehanna Bancshares

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Snap (NYSE:SNAP) was upgraded by Susquehanna Bancshares from a “negative” rating to a “neutral” rating in a research report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $18.00 price target on the stock, up from their previous price target of $12.00. Susquehanna Bancshares’ target price points to a potential upside of 6.51% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Stifel Nicolaus restated a “buy” rating and issued a $19.00 price objective on shares of Snap in a research note on Wednesday, September 4th. Bank of America upped their price objective on shares of Snap from $12.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. JPMorgan Chase & Co. upped their target price on shares of Snap from $11.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Loop Capital upped their target price on shares of Snap to $15.00 and gave the company a “hold” rating in a report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, Goldman Sachs Group raised shares of Snap from a “neutral” rating to a “buy” rating and upped their target price for the company from $13.00 to $18.00 in a report on Friday, July 12th. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and fourteen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $15.46.

NYSE SNAP opened at $16.90 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.53 and a quick ratio of 4.53. Snap has a 1 year low of $4.82 and a 1 year high of $18.36. The company has a market capitalization of $22.07 billion, a PE ratio of -17.42 and a beta of 1.12. The company has a fifty day moving average of $16.19 and a two-hundred day moving average of $13.42.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, July 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.02. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The company had revenue of $388.02 million during the quarter, compared to the consensus estimate of $358.16 million. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Snap’s revenue for the quarter was up 48.0% on a year-over-year basis. On average, research analysts expect that Snap will post -0.71 earnings per share for the current year.

In other Snap news, insider Jared Grusd sold 30,405 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $16.70, for a total value of $507,763.50. Following the completion of the transaction, the insider now directly owns 2,430,267 shares of the company’s stock, valued at $40,585,458.90. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Michael Lynton sold 165,454 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $15.00, for a total transaction of $2,481,810.00. Following the completion of the transaction, the director now directly owns 126,717 shares of the company’s stock, valued at $1,900,755. The disclosure for this sale can be found here. Insiders have sold 5,472,570 shares of company stock valued at $92,872,757 over the last three months.

Institutional investors have recently modified their holdings of the business. Prime Capital Investment Advisors LLC purchased a new position in Snap in the second quarter valued at about $27,000. Atlas Capital Advisors LLC purchased a new position in Snap in the second quarter valued at about $29,000. Providence Capital Advisors LLC purchased a new position in Snap in the first quarter valued at about $32,000. Catalyst Capital Advisors LLC increased its holdings in Snap by 38.8% in the second quarter. Catalyst Capital Advisors LLC now owns 2,386 shares of the company’s stock valued at $34,000 after buying an additional 667 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in Snap by 400.0% in the second quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock valued at $36,000 after buying an additional 2,000 shares in the last quarter. 26.84% of the stock is owned by institutional investors.

About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

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Analyst Recommendations for Snap (NYSE:SNAP)

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