Snap (NYSE:SNAP) Upgraded to Buy by Goldman Sachs Group

Goldman Sachs Group upgraded shares of Snap (NYSE:SNAP) from a neutral rating to a buy rating in a report published on Friday, Benzinga reports. The brokerage currently has $18.00 price objective on the stock, up from their previous price objective of $13.00.

A number of other research firms have also commented on SNAP. Barclays lowered their price target on Waters from $218.00 to $210.00 and set an equal weight rating for the company in a research report on Wednesday, April 24th. Deutsche Bank upped their price target on Snap from $10.00 to $13.00 and gave the company a hold rating in a research report on Friday, April 5th. JPMorgan Chase & Co. lowered their price target on Teck Resources from C$56.00 to C$55.00 in a research report on Wednesday, April 24th. Pivotal Research upgraded Snap from a hold rating to a buy rating and upped their target price for the stock from $13.25 to $17.25 in a report on Thursday, June 6th. Finally, Summit Insights upgraded Snap from a sell rating to a hold rating and set a $11.50 target price on the stock in a report on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $12.23.

SNAP opened at $15.50 on Friday. The firm’s 50 day simple moving average is $14.05. The company has a market cap of $21.14 billion, a price-to-earnings ratio of -15.98 and a beta of 1.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.75 and a quick ratio of 4.75. Snap has a one year low of $4.82 and a one year high of $16.24.



Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, April 23rd. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The business had revenue of $320.43 million for the quarter, compared to the consensus estimate of $306.28 million. Snap had a negative net margin of 92.94% and a negative return on equity of 47.71%. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) EPS. On average, analysts anticipate that Snap will post -0.76 earnings per share for the current fiscal year.

In related news, Director Michael Lynton sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $11.09, for a total value of $277,250.00. Following the sale, the director now owns 126,817 shares in the company, valued at approximately $1,406,400.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Derek Andersen sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $12.00, for a total value of $108,000.00. Following the completion of the sale, the chief financial officer now owns 1,551,175 shares in the company, valued at approximately $18,614,100. The disclosure for this sale can be found here. Insiders sold a total of 2,708,464 shares of company stock worth $33,540,523 in the last 90 days.

Several institutional investors have recently bought and sold shares of SNAP. Providence Capital Advisors LLC bought a new position in Snap in the 1st quarter valued at approximately $32,000. Valeo Financial Advisors LLC lifted its position in Snap by 400.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock valued at $36,000 after acquiring an additional 2,000 shares in the last quarter. TCI Wealth Advisors Inc. lifted its position in Snap by 70.0% in the 1st quarter. TCI Wealth Advisors Inc. now owns 3,400 shares of the company’s stock valued at $37,000 after acquiring an additional 1,400 shares in the last quarter. Stephens Inc. AR bought a new position in Snap in the 4th quarter valued at approximately $66,000. Finally, Two Sigma Securities LLC lifted its position in Snap by 168.9% in the 4th quarter. Two Sigma Securities LLC now owns 15,157 shares of the company’s stock valued at $84,000 after acquiring an additional 37,157 shares in the last quarter. Institutional investors own 25.81% of the company’s stock.

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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