Snap’s (SNAP) Neutral Rating Reiterated at Guggenheim

Guggenheim reissued their neutral rating on shares of Snap (NYSE:SNAP) in a research note published on Wednesday morning,Benzinga reports.

SNAP has been the subject of a number of other research reports. Sanford C. Bernstein boosted their price target on Snap from $9.00 to $10.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 22nd. JMP Securities reiterated a “market perform” rating on shares of Snap in a research report on Wednesday, August 6th. Truist Financial reduced their price target on Snap from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, August 6th. BMO Capital Markets reduced their price target on Snap from $13.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, August 6th. Finally, UBS Group reduced their price target on Snap from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Five research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Snap presently has an average rating of “Hold” and an average price target of $34.16.

Snap Trading Up 3.0%

NYSE:SNAP opened at $7.31 on Wednesday. Snap has a 12-month low of $6.90 and a 12-month high of $13.28. The firm has a market capitalization of $12.34 billion, a P/E ratio of -22.83 and a beta of 0.62. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88. The business has a 50 day simple moving average of $8.45 and a 200 day simple moving average of $8.59.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.16). Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm posted ($0.15) EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. Snap has set its Q3 2025 guidance at EPS. Equities research analysts predict that Snap will post -0.3 EPS for the current year.

Insider Activity at Snap

In other news, insider Ajit Mohan sold 184,287 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $7.18, for a total transaction of $1,323,180.66. Following the sale, the insider directly owned 5,492,006 shares of the company’s stock, valued at $39,432,603.08. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Derek Andersen sold 60,966 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $7.17, for a total value of $437,126.22. Following the sale, the chief financial officer directly owned 3,143,452 shares in the company, valued at $22,538,550.84. This trade represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,510,644 shares of company stock valued at $11,688,447 over the last ninety days. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

A number of institutional investors and hedge funds have recently modified their holdings of SNAP. The Manufacturers Life Insurance Company raised its position in shares of Snap by 1.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock worth $661,000 after purchasing an additional 1,033 shares during the period. Northern Trust Corp raised its position in shares of Snap by 11.7% during the fourth quarter. Northern Trust Corp now owns 4,245,811 shares of the company’s stock worth $45,727,000 after purchasing an additional 445,952 shares during the period. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Snap during the fourth quarter worth $157,000. AXA S.A. raised its position in shares of Snap by 2.9% during the fourth quarter. AXA S.A. now owns 60,706 shares of the company’s stock worth $654,000 after purchasing an additional 1,727 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Snap by 2.4% during the fourth quarter. Ameriprise Financial Inc. now owns 157,118 shares of the company’s stock valued at $1,692,000 after buying an additional 3,710 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

About Snap

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.