Snap (NYSE:SNAP) Upgraded to Outperform at JMP Securities

JMP Securities upgraded shares of Snap (NYSE:SNAP) from a market perform rating to an outperform rating in a report released on Wednesday, MarketBeat.com reports. JMP Securities currently has $17.00 price target on the stock.

Several other research analysts have also weighed in on the company. Argus raised Snap to a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. dropped their price target on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Roth Mkm reaffirmed a “neutral” rating and set a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. Citigroup cut their target price on shares of Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Finally, Truist Financial decreased their price target on shares of Snap from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $13.89.

Snap Stock Performance

NYSE:SNAP opened at $10.14 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The company has a 50 day simple moving average of $9.90 and a two-hundred day simple moving average of $12.69. The company has a market capitalization of $16.83 billion, a PE ratio of -14.08 and a beta of 1.01.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. Research analysts anticipate that Snap will post -0.47 earnings per share for the current year.

Insider Transactions at Snap

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the completion of the sale, the general counsel now owns 489,058 shares in the company, valued at approximately $5,286,716.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $10.81, for a total value of $194,580.00. Following the completion of the sale, the general counsel now directly owns 489,058 shares of the company’s stock, valued at $5,286,716.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 59,053 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $548,602.37. Following the transaction, the general counsel now owns 1,258,278 shares of the company’s stock, valued at $11,689,402.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,508,617 shares of company stock worth $13,422,930 in the last ninety days. Company insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in shares of Snap during the 3rd quarter valued at $29,000. Paladin Wealth LLC bought a new stake in Snap during the third quarter valued at approximately $30,000. Hollencrest Capital Management bought a new position in shares of Snap in the 2nd quarter worth $33,000. Blue Trust Inc. lifted its holdings in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in Snap in the second quarter valued at $40,000. 47.52% of the stock is owned by institutional investors.

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.