Benchmark Reiterates Hold Rating for Snap (NYSE:SNAP)

Benchmark reiterated their hold rating on shares of Snap (NYSE:SNAP) in a research note published on Friday morning, Benzinga reports.

SNAP has been the topic of several other reports. Canaccord Genuity Group raised their target price on Snap from $14.00 to $15.00 and gave the stock a hold rating in a research note on Friday. The Goldman Sachs Group cut their target price on Snap from $15.00 to $13.50 and set a neutral rating on the stock in a research note on Thursday, February 8th. HSBC raised Snap from a reduce rating to a buy rating in a research note on Friday. Morgan Stanley raised their price objective on shares of Snap from $11.00 to $12.00 and gave the stock an underweight rating in a report on Friday. Finally, BMO Capital Markets lowered their price objective on shares of Snap from $22.00 to $20.00 and set an outperform rating for the company in a report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $14.67.

Snap Stock Up 27.5 %

Shares of NYSE:SNAP opened at $14.53 on Friday. The stock’s 50-day moving average price is $11.26 and its 200-day moving average price is $12.84. Snap has a 12-month low of $7.86 and a 12-month high of $17.90. The stock has a market capitalization of $23.98 billion, a P/E ratio of -17.94 and a beta of 1.13. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.10. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. On average, equities analysts anticipate that Snap will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Rebecca Morrow sold 9,386 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the transaction, the chief accounting officer now directly owns 495,526 shares in the company, valued at approximately $5,520,159.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Eric Young sold 120,472 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the transaction, the senior vice president now directly owns 3,540,852 shares in the company, valued at approximately $39,409,682.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 9,386 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $11.14, for a total transaction of $104,560.04. Following the completion of the transaction, the chief accounting officer now owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The disclosure for this sale can be found here. Insiders sold a total of 470,482 shares of company stock worth $5,284,091 in the last three months. Insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

A number of large investors have recently added to or reduced their stakes in SNAP. HCR Wealth Advisors raised its stake in Snap by 10.0% during the 3rd quarter. HCR Wealth Advisors now owns 23,162 shares of the company’s stock valued at $206,000 after buying an additional 2,098 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Snap by 7.6% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 191,542 shares of the company’s stock valued at $1,707,000 after buying an additional 13,500 shares during the last quarter. Compass Advisory Group LLC raised its stake in Snap by 13.2% during the 3rd quarter. Compass Advisory Group LLC now owns 13,678 shares of the company’s stock valued at $122,000 after buying an additional 1,591 shares during the last quarter. Avaii Wealth Management LLC raised its stake in Snap by 24.2% during the 3rd quarter. Avaii Wealth Management LLC now owns 15,819 shares of the company’s stock valued at $141,000 after buying an additional 3,080 shares during the last quarter. Finally, Forsta AP Fonden raised its stake in Snap by 3.6% during the 3rd quarter. Forsta AP Fonden now owns 238,700 shares of the company’s stock valued at $2,127,000 after buying an additional 8,400 shares during the last quarter. 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.