Snap (NYSE:SNAP) Given “Hold” Rating at Benchmark

Snap (NYSE:SNAP)‘s stock had its “hold” rating restated by investment analysts at Benchmark in a report issued on Friday, Benzinga reports.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley boosted their price target on shares of Snap from $11.00 to $12.00 and gave the company an “underweight” rating in a research note on Friday. Susquehanna increased their target price on shares of Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Canaccord Genuity Group increased their target price on shares of Snap from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday. BMO Capital Markets reduced their price objective on shares of Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Finally, Truist Financial raised their price objective on shares of Snap from $12.00 to $16.00 and gave the company a “hold” rating in a report on Friday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.56.

Snap Price Performance

Shares of NYSE SNAP traded up $3.48 during trading on Friday, hitting $14.88. The company had a trading volume of 98,003,842 shares, compared to its average volume of 31,036,756. The stock has a fifty day simple moving average of $11.19 and a two-hundred day simple moving average of $12.79. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The firm has a market capitalization of $24.56 billion, a price-to-earnings ratio of -17.93 and a beta of 1.13. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. On average, research analysts expect that Snap will post -0.58 earnings per share for the current year.

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Rebecca Morrow sold 2,442 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares in the company, valued at $5,423,924. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock valued at $5,284,091 over the last quarter. Corporate insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Snap by 1.5% in the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock valued at $818,067,000 after purchasing an additional 1,352,655 shares during the period. Jump Financial LLC lifted its stake in shares of Snap by 565.4% in the third quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock valued at $2,343,000 after purchasing an additional 223,432 shares during the period. Allworth Financial LP lifted its stake in shares of Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares during the period. Illinois Municipal Retirement Fund acquired a new position in Snap during the third quarter worth about $423,000. Finally, Korea Investment CORP raised its position in Snap by 191.7% during the third quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock worth $3,703,000 after acquiring an additional 273,156 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Company Profile

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.