Snap’s (SNAP) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Snap (NYSE:SNAP) in a research note issued to investors on Monday,Benzinga reports. They currently have a $16.00 price objective on the stock.

SNAP has been the topic of a number of other reports. Truist Financial upped their target price on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Loop Capital upped their price objective on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. B. Riley increased their price objective on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. UBS Group boosted their target price on Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus reduced their target price on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.99.

Snap Trading Up 3.8 %

SNAP stock opened at $11.62 on Monday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The stock has a market capitalization of $19.48 billion, a price-to-earnings ratio of -20.03 and a beta of 0.98. The business has a fifty day moving average price of $11.52 and a 200 day moving average price of $11.03. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.50.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the business posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Analysts expect that Snap will post -0.39 EPS for the current fiscal year.

Insider Activity at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total value of $195,120.00. Following the completion of the sale, the general counsel now owns 498,498 shares of the company’s stock, valued at approximately $5,403,718.32. This represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 11,154 shares of Snap stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the transaction, the chief accounting officer now directly owns 465,064 shares in the company, valued at approximately $4,906,425.20. This represents a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 427,184 shares of company stock worth $4,761,369 in the last quarter. 22.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SNAP. Geode Capital Management LLC increased its position in shares of Snap by 5.2% during the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after buying an additional 575,324 shares during the period. TB Alternative Assets Ltd. boosted its position in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after acquiring an additional 4,098,847 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Snap by 49.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after acquiring an additional 1,297,348 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Snap by 0.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company’s stock valued at $34,950,000 after purchasing an additional 15,294 shares during the period. Institutional investors 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.