Snap (NYSE:SNAP) Releases Quarterly Earnings Results

Snap (NYSE:SNAP) announced its earnings results on Tuesday. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13), Zacks reports. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%.

Snap Stock Performance

Shares of NYSE SNAP traded up $0.44 during mid-day trading on Tuesday, hitting $11.61. The company had a trading volume of 53,560,646 shares, compared to its average volume of 30,755,072. Snap has a 1 year low of $8.29 and a 1 year high of $17.50. The stock’s 50-day moving average price is $11.52 and its 200-day moving average price is $10.91. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of -20.01 and a beta of 0.99.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial upped their price target 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 target on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Canaccord Genuity Group lifted their target price on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Snap in a report on Thursday, December 5th. 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 assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.99.

Insider Transactions at Snap

In other Snap news, CFO Derek Andersen sold 94,164 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the completion of the sale, the chief financial officer now owns 2,193,806 shares of the company’s stock, valued at $25,097,140.64. This represents a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Rebecca Morrow sold 11,154 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $117,674.70. Following the transaction, the chief accounting officer now owns 465,064 shares of the company’s stock, valued at approximately $4,906,425.20. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 445,184 shares of company stock valued at $4,968,189.

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.