Snap (NYSE:SNAP) Lifted to Neutral at Susquehanna Bancshares

Susquehanna Bancshares upgraded shares of Snap (NYSE:SNAP) from a negative rating to a neutral rating in a report released on Tuesday, BenzingaRatingsTable reports. The brokerage currently has $18.00 price target on the stock, up from their prior price target of $12.00.

A number of other brokerages also recently commented on SNAP. SunTrust Banks upped their target price on shares of Snap from $11.00 to $17.00 and gave the stock a hold rating in a research note on Wednesday, July 24th. Citigroup upped their target price on shares of Snap from $14.00 to $18.00 and gave the stock a neutral rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. BTIG Research upped their target price on shares of Snap from $15.00 to $20.00 and gave the stock a buy rating in a research note on Tuesday, June 18th. Deutsche Bank upped their target price on shares of Snap from $13.00 to $16.00 and gave the stock a hold rating in a research note on Wednesday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Snap from $11.00 to $17.00 and gave the stock a neutral rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, twenty have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $15.46.

Shares of SNAP stock opened at $16.88 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.53 and a current ratio of 4.53. The company’s 50-day simple moving average is $16.19 and its two-hundred day simple moving average is $13.45. Snap has a one year low of $4.82 and a one year high of $18.36.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, July 23rd. The company reported ($0.19) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.21) by $0.02. The business had revenue of $388.02 million for the quarter, compared to the consensus estimate of $358.16 million. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The company’s revenue for the quarter was up 48.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.14) EPS. On average, analysts anticipate that Snap will post -0.71 EPS for the current fiscal year.

In other news, Director Michael Lynton sold 127,663 shares of the stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $15.04, for a total transaction of $1,920,051.52. Following the transaction, the director now directly owns 68,149 shares in the company, valued at $1,024,960.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Jerry James Hunter sold 12,797 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $15.12, for a total transaction of $193,490.64. Following the transaction, the vice president now owns 1,692,578 shares in the company, valued at $25,591,779.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,472,570 shares of company stock worth $92,872,757.

A number of large investors have recently bought and sold shares of SNAP. Prime Capital Investment Advisors LLC purchased a new stake in Snap during the second quarter valued at approximately $27,000. Atlas Capital Advisors LLC purchased a new stake in Snap during the second quarter valued at approximately $29,000. Providence Capital Advisors LLC purchased a new stake in Snap during the first quarter valued at approximately $32,000. Catalyst Capital Advisors LLC lifted its position in Snap by 38.8% during the second quarter. Catalyst Capital Advisors LLC now owns 2,386 shares of the company’s stock valued at $34,000 after acquiring an additional 667 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its position in Snap by 400.0% during the second 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 during the last quarter. 26.84% of the stock is owned by institutional investors.

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.

See Also: Net Margin

Analyst Recommendations for Snap (NYSE:SNAP)

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