Snap (NYSE:SNAP) Rating Reiterated by Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of Snap (NYSE:SNAP) in a research note published on Wednesday, AnalystRatings.com reports. They currently have a $19.00 price objective on the stock.

SNAP has been the topic of several other reports. Citigroup boosted their price objective on shares of Snap from $14.00 to $18.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Rosenblatt Securities began coverage on shares of Snap in a research report on Tuesday, July 23rd. They issued a buy rating and a $18.00 price objective on the stock. Loop Capital boosted their price objective on shares of Snap to $15.00 and gave the company a hold rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. JPMorgan Chase & Co. boosted their price objective on shares of Snap from $11.00 to $17.00 and gave the company a neutral rating in a research report on Wednesday, July 24th. They noted that the move was a valuation call. Finally, ValuEngine cut shares of Snap from a buy rating to a hold rating in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, twenty-one have assigned a hold rating and fourteen have given a buy rating to the stock. Snap currently has a consensus rating of Hold and an average price target of $16.37.

SNAP traded up $0.22 during trading on Wednesday, hitting $14.52. The company had a trading volume of 33,577,452 shares, compared to its average volume of 28,102,006. The company has a market capitalization of $20.03 billion, a PE ratio of -14.97 and a beta of 1.11. Snap has a one year low of $4.82 and a one year high of $18.36. The firm’s 50-day moving average price is $16.00 and its 200 day moving average price is $13.91. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.02. The business had revenue of $388.02 million for the quarter, compared to analysts’ expectations of $358.16 million. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The firm’s revenue was up 48.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.14) EPS. Sell-side analysts forecast that Snap will post -0.71 earnings per share for the current year.

In other news, CFO Derek Andersen sold 8,136 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $15.32, for a total transaction of $124,643.52. Following the transaction, the chief financial officer now directly owns 1,493,748 shares in the company, valued at approximately $22,884,219.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Lara Sweet sold 25,594 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $15.30, for a total transaction of $391,588.20. Following the transaction, the chief accounting officer now owns 1,201,157 shares in the company, valued at $18,377,702.10. The disclosure for this sale can be found here. Insiders sold a total of 5,179,453 shares of company stock worth $88,470,896 over the last quarter.

Several institutional investors have recently added to or reduced their stakes in SNAP. Geode Capital Management LLC increased its stake in shares of Snap by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 4,810,361 shares of the company’s stock worth $26,505,000 after purchasing an additional 208,932 shares during the last quarter. Raymond James & Associates increased its stake in shares of Snap by 116.4% during the 1st quarter. Raymond James & Associates now owns 197,206 shares of the company’s stock worth $2,173,000 after purchasing an additional 106,092 shares during the last quarter. Advisor Group Inc. increased its stake in shares of Snap by 56.5% during the 1st quarter. Advisor Group Inc. now owns 135,656 shares of the company’s stock worth $1,494,000 after purchasing an additional 48,978 shares during the last quarter. CIBC World Markets Inc. acquired a new position in shares of Snap during the 1st quarter worth about $222,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Snap during the 1st quarter worth about $259,000. Institutional investors own 26.88% 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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