Snap (NYSE:SNAP) Given Hold Rating at Benchmark

Benchmark reiterated their hold rating on shares of Snap (NYSE:SNAP) in a report released on Friday morning, Benzinga reports.

SNAP has been the subject of a number of other research reports. Barclays lifted their target price on Snap from $15.00 to $17.00 and gave the company an overweight rating in a research report on Friday. Evercore ISI lifted their price target on shares of Snap from $13.00 to $14.00 and gave the company an in-line rating in a research report on Friday. UBS Group decreased their price objective on shares of Snap from $14.00 to $13.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. HSBC upgraded shares of Snap from a reduce rating to a buy rating in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded Snap from a hold rating to a buy rating and upped their price target for the stock from $10.00 to $19.00 in a research note on Friday, January 26th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $14.79.

Snap Price Performance

NYSE:SNAP opened at $14.49 on Friday. The firm has a market cap of $23.92 billion, a price-to-earnings ratio of -17.89 and a beta of 1.13. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The company has a 50 day moving average price of $11.33 and a 200-day moving average price of $12.93. Snap has a 1-year low of $7.86 and a 1-year high of $17.90.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.10. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Equities research analysts forecast that Snap will post -0.58 EPS for the current year.

Insider Buying and Selling at Snap

In other news, SVP Eric Young sold 120,472 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the sale, the senior vice president now directly owns 3,540,852 shares of the company’s stock, valued at approximately $39,409,682.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the sale, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Eric Young sold 120,472 shares of Snap stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the completion of the transaction, the senior vice president now owns 3,540,852 shares in the company, valued at $39,409,682.76. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock worth $5,284,091 over the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SNAP. Vanguard Group Inc. boosted its holdings in shares of Snap by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after acquiring an additional 3,503,230 shares in the last quarter. SRS Investment Management LLC boosted its holdings in Snap by 23.6% in the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after purchasing an additional 12,452,415 shares in the last quarter. Capital World Investors boosted its holdings in Snap by 0.6% in the 4th quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock valued at $776,868,000 after purchasing an additional 274,176 shares in the last quarter. Artisan Partners Limited Partnership increased its position in Snap by 4.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock worth $73,666,000 after purchasing an additional 327,038 shares during the period. Finally, Carmignac Gestion purchased a new position in shares of Snap during the 4th quarter worth approximately $110,103,000. Institutional investors and hedge funds 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.