Snap Inc (NYSE:SNAP) Receives Consensus Rating of “Hold” from Analysts

Shares of Snap Inc (NYSE:SNAP) have received a consensus recommendation of “Hold” from the thirty-seven brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and fifteen have issued a buy rating on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $16.73.

SNAP has been the subject of several recent analyst reports. MKM Partners initiated coverage on shares of Snap in a report on Friday. They set a “neutral” rating and a $16.00 price objective for the company. SunTrust Banks raised their price objective on shares of Snap from $11.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Bank of America raised shares of Snap from a “neutral” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Friday. Nomura raised their price objective on shares of Snap from $10.00 to $15.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Finally, Canaccord Genuity raised their price objective on shares of Snap from $13.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th.

In other Snap news, Director Joanna Coles sold 5,631 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $17.00, for a total value of $95,727.00. Following the transaction, the director now directly owns 77,893 shares of the company’s stock, valued at $1,324,181. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael Lynton sold 130,949 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $18.00, for a total transaction of $2,357,082.00. Following the completion of the transaction, the director now directly owns 77,086 shares in the company, valued at $1,387,548. The disclosure for this sale can be found here. Insiders have sold 5,075,045 shares of company stock worth $86,802,372 over the last three months.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Snap by 12.0% in the second quarter. Vanguard Group Inc. now owns 59,173,892 shares of the company’s stock valued at $846,186,000 after acquiring an additional 6,320,561 shares during the last quarter. BlackRock Inc. boosted its stake in Snap by 34.1% in the second quarter. BlackRock Inc. now owns 21,849,669 shares of the company’s stock valued at $312,449,000 after acquiring an additional 5,561,652 shares during the last quarter. Morgan Stanley boosted its stake in Snap by 72.2% in the second quarter. Morgan Stanley now owns 4,829,674 shares of the company’s stock valued at $69,064,000 after acquiring an additional 2,025,709 shares during the last quarter. Hillhouse Capital Advisors LTD. bought a new position in Snap in the second quarter valued at approximately $63,862,000. Finally, Whale Rock Capital Management LLC boosted its stake in Snap by 14.1% in the second quarter. Whale Rock Capital Management LLC now owns 4,054,209 shares of the company’s stock valued at $57,975,000 after acquiring an additional 501,807 shares during the last quarter. 26.88% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:SNAP opened at $13.52 on Friday. Snap has a 12-month low of $4.82 and a 12-month high of $18.36. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $19.01 billion, a PE ratio of -13.94 and a beta of 1.11. The firm has a 50-day moving average price of $15.51 and a 200 day moving average price of $14.14.

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

Snap Company Profile

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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