Snap (NYSE:SNAP) Lowered to “Neutral” Rating by Guggenheim

Guggenheim lowered shares of Snap (NYSE:SNAP) from a buy rating to a neutral rating in a research note released on Tuesday, Marketbeat reports.

Other equities analysts have also recently issued research reports about the company. B. Riley boosted their target price on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial raised their price objective on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. decreased their target price on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 5th. Susquehanna raised their target price on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group increased their target price on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus price target of $36.87.

Snap Trading Up 1.7 %

Shares of SNAP stock opened at $10.90 on Tuesday. Snap has a twelve month low of $8.29 and a twelve month high of $17.33. The company has a current ratio of 3.95, a quick ratio of 4.04 and a debt-to-equity ratio of 1.47. The business’s 50 day moving average is $11.40 and its two-hundred day moving average is $10.78. The company has a market capitalization of $18.27 billion, a P/E ratio of -25.94 and a beta of 0.99.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Equities analysts forecast that Snap will post -0.26 EPS for the current year.

Insider Transactions at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the transaction, the general counsel now directly owns 480,498 shares of the company’s stock, valued at $5,520,922.02. This trade represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Eric Young sold 112,020 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. The trade was a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 443,518 shares of company stock worth $4,947,981 in the last three months. 22.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently bought and sold shares of SNAP. Mountain Hill Investment Partners Corp. acquired a new stake in Snap in the fourth quarter valued at approximately $27,000. V Square Quantitative Management LLC purchased a new position in shares of Snap in the third quarter valued at $29,000. Paladin Wealth LLC acquired a new stake in Snap during the 3rd quarter valued at $30,000. Advisors Asset Management Inc. increased its stake in Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares during the period. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in Snap in the 4th quarter worth $32,000. 47.52% of the stock is owned by institutional investors and hedge funds.

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.