Snap (NYSE:SNAP) Rating Reiterated by Benchmark

Snap (NYSE:SNAP)‘s stock had its “hold” rating restated by Benchmark in a research note issued to investors on Friday, Benzinga reports.

SNAP has been the subject of a number of other reports. Rosenblatt Securities upped their target price on Snap from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday. Susquehanna upped their target price on Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Evercore ISI upped their target price on Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a research report on Friday. Piper Sandler upped their target price on Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Finally, Roth Mkm restated a “neutral” rating and issued a $14.00 target price on shares of Snap in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.67.

Snap Stock Performance

Shares of NYSE SNAP opened at $14.55 on Friday. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. The stock has a 50 day simple moving average of $11.26 and a 200-day simple moving average of $12.84. The company has a market cap of $24.02 billion, a PE ratio of -17.96 and a beta of 1.13. Snap has a 12-month low of $7.86 and a 12-month high of $17.90.

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

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the transaction, the general counsel now directly owns 474,812 shares in the company, valued at approximately $5,474,582.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now directly owns 461,005 shares in the company, valued at $7,449,840.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the sale, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock worth $5,284,091 in the last ninety days. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Snap by 1.5% in the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after purchasing an additional 1,352,655 shares in the last quarter. Jump Financial LLC boosted its holdings in Snap by 565.4% during the third quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock valued at $2,343,000 after acquiring an additional 223,432 shares during the period. Allworth Financial LP boosted its holdings in Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after acquiring an additional 1,708 shares during the period. Illinois Municipal Retirement Fund bought a new stake in Snap during the third quarter valued at about $423,000. Finally, Korea Investment CORP boosted its holdings in Snap by 191.7% during the third quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock valued at $3,703,000 after acquiring an additional 273,156 shares during the period. 47.52% of the stock is currently owned by institutional investors.

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.