Snap (NYSE:SNAP) Rating Increased to Buy at HSBC

HSBC upgraded shares of Snap (NYSE:SNAP) from a reduce rating to a buy rating in a research note published on Friday, Marketbeat reports.

A number of other equities research analysts also recently weighed in on the company. Wells Fargo & Company lowered their price target on Snap from $22.00 to $16.00 and set an overweight rating for the company in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upgraded Snap from a hold rating to a buy rating and upped their price objective for the stock from $10.00 to $19.00 in a research note on Friday, January 26th. Stifel Nicolaus lowered their price objective on Snap from $14.00 to $12.00 and set a hold rating for the company in a research note on Tuesday, April 16th. Truist Financial upped their price objective on Snap from $11.00 to $12.00 and gave the stock a hold rating in a research note on Wednesday, February 7th. Finally, Roth Mkm reiterated a neutral rating and set a $14.00 price target on shares of Snap in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $14.67.

Snap Price Performance

Shares of NYSE SNAP opened at $14.53 on Friday. Snap has a twelve month low of $7.86 and a twelve month high of $17.90. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. The company has a market capitalization of $23.98 billion, a price-to-earnings ratio of -17.94 and a beta of 1.13. The business has a 50 day simple moving average of $11.26 and a 200-day simple moving average of $12.84.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. As a group, equities research analysts expect that Snap will post -0.58 earnings per share for the current year.

Insider Activity at Snap

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now directly owns 474,812 shares of the company’s stock, valued at approximately $5,474,582.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now directly owns 474,812 shares of the company’s stock, valued at approximately $5,474,582.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Evan Spiegel sold 150,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $11.11, for a total value of $1,666,500.00. Following the completion of the sale, the chief executive officer now directly owns 3,627,844 shares of the company’s stock, valued at $40,305,346.84. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock worth $5,284,091 in the last quarter. 22.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snap

A number of hedge funds and other institutional investors have recently made changes to their positions in SNAP. HCR Wealth Advisors raised its stake in shares of Snap by 10.0% during the 3rd quarter. HCR Wealth Advisors now owns 23,162 shares of the company’s stock worth $206,000 after purchasing an additional 2,098 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of 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 acquiring an additional 13,500 shares during the last quarter. Compass Advisory Group LLC increased its holdings in shares of 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 acquiring an additional 1,591 shares during the last quarter. Avaii Wealth Management LLC increased its holdings in shares of 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 acquiring an additional 3,080 shares during the last quarter. Finally, Forsta AP Fonden increased its holdings in shares of 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 acquiring an additional 8,400 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.