Roth Mkm Reiterates “Neutral” Rating for Snap (NYSE:SNAP)

Snap (NYSE:SNAP)‘s stock had its “neutral” rating restated by stock analysts at Roth Mkm in a research note issued on Tuesday, Benzinga reports. They currently have a $14.00 target price on the stock. Roth Mkm’s target price suggests a potential upside of 21.85% from the stock’s previous close.

SNAP has been the topic of a number of other research reports. Truist Financial boosted their target price on Snap from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, February 7th. UBS Group dropped their target price on Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, April 16th. Rosenblatt Securities boosted their target price on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Susquehanna boosted their target price on Snap from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Finally, BMO Capital Markets dropped their price objective on Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $13.86.

Snap Stock Performance

NYSE SNAP traded up $0.35 on Tuesday, reaching $11.49. The stock had a trading volume of 7,387,651 shares, compared to its average volume of 29,384,625. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. Snap has a 12-month low of $7.86 and a 12-month high of $17.90. The business’s 50-day moving average price is $11.21 and its 200 day moving average price is $12.78. The stock has a market cap of $18.97 billion, a P/E ratio of -13.93 and a beta of 1.13.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.39 billion. As a group, equities analysts expect that Snap will post -0.58 earnings per share for the current year.

Insider Buying and Selling at Snap

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the 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 sale, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the 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 sale, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 9,386 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the sale, the chief accounting officer now directly owns 495,526 shares in the company, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 470,482 shares of company stock valued at $5,284,091.

Institutional Trading of Snap

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Snap by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after buying an additional 1,352,655 shares during the last quarter. Jump Financial LLC boosted its stake in Snap by 565.4% in the 3rd quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock worth $2,343,000 after buying an additional 223,432 shares during the last quarter. Allworth Financial LP boosted its stake in Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after buying an additional 1,708 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in Snap in the 3rd quarter worth about $423,000. Finally, Korea Investment CORP boosted its stake in Snap by 191.7% in the 3rd quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock worth $3,703,000 after buying an additional 273,156 shares during the last quarter. 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.