Snap (NYSE:SNAP) Earns Neutral Rating from Analysts at B. Riley

B. Riley assumed coverage on shares of Snap (NYSE:SNAP) in a research report released on Friday, MarketBeat reports. The brokerage issued a neutral rating and a $11.00 price target on the stock.

Other analysts have also recently issued research reports about the stock. Roth Mkm reiterated a neutral rating and issued a $14.00 price objective on shares of Snap in a research note on Wednesday, September 18th. Morgan Stanley raised Snap from an underweight rating to an equal weight rating and boosted their price target for the stock from $12.00 to $16.00 in a research note on Tuesday, July 23rd. Truist Financial reduced their price objective on Snap from $16.00 to $13.00 and set a hold rating for the company in a report on Friday, August 2nd. Barclays decreased their target price on Snap from $17.00 to $16.00 and set an overweight rating on the stock in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald began coverage on Snap in a research report on Thursday, September 5th. They issued a neutral rating and a $8.00 price target for the company. One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $13.76.

Snap Stock Performance

Shares of SNAP stock opened at $10.05 on Friday. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. Snap has a 12-month low of $8.28 and a 12-month high of $17.90. The company has a market cap of $16.68 billion, a price-to-earnings ratio of -12.41 and a beta of 1.00. The stock has a 50 day simple moving average of $10.58 and a 200-day simple moving average of $12.83.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. On average, equities analysts forecast that Snap will post -0.48 EPS for the current year.

Insider Buying and Selling at Snap

In other news, SVP Eric Young sold 114,097 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the sale, the senior vice president now owns 3,041,723 shares of the company’s stock, valued at $27,710,096.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Eric Young sold 114,097 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the completion of the transaction, the senior vice president now owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. The disclosure for this sale can be found here. Insiders have sold 1,511,540 shares of company stock valued at $13,569,906 over the last three months. 22.68% of the stock is owned by company insiders.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently modified their holdings of SNAP. Hollencrest Capital Management acquired a new stake in Snap during the 2nd quarter valued at approximately $33,000. Blue Trust Inc. grew its position in shares of Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after buying an additional 1,682 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of Snap in the second quarter worth $40,000. J.Safra Asset Management Corp raised its holdings in Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after acquiring an additional 2,330 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in Snap during the 4th quarter valued at $108,000. 47.52% of the stock is owned by hedge funds and other 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.