Snap (NYSE:SNAP) Receives Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Snap (NYSE:SNAP) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $8.00 target price on the stock.

A number of other analysts also recently commented on the company. B. Riley initiated coverage on Snap in a research report on Friday, September 20th. They set a neutral rating and a $11.00 price target for the company. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a $14.00 price target on shares of Snap in a research report on Wednesday, September 18th. Susquehanna decreased their price target on Snap from $15.00 to $12.00 and set a neutral rating for the company in a research report on Friday, August 2nd. Benchmark reaffirmed a hold rating on shares of Snap in a research report on Tuesday, August 6th. Finally, Truist Financial decreased their price target on Snap from $16.00 to $13.00 and set a hold rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Snap currently has an average rating of Hold and an average price target of $14.00.

Snap Stock Performance

Shares of Snap stock opened at $10.70 on Monday. The company has a market cap of $17.76 billion, a PE ratio of -13.21 and a beta of 1.00. Snap has a 52 week low of $8.29 and a 52 week high of $17.90. The business has a 50 day moving average price of $10.11 and a 200-day moving average price of $12.78. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) 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 the consensus estimate of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. Equities analysts anticipate that Snap will post -0.47 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other news, CFO Derek Andersen sold 97,608 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the transaction, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Michael J. O’sullivan sold 59,053 shares of Snap stock in a transaction on Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction of $548,602.37. Following the completion of the sale, the general counsel now owns 1,258,278 shares of the company’s stock, valued at $11,689,402.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Derek Andersen sold 97,608 shares of Snap stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the sale, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at approximately $21,255,241.30. The disclosure for this sale can be found here. Insiders sold 1,493,540 shares of company stock valued at $13,271,826 over the last three months. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Several large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC raised its position in Snap by 2.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after purchasing an additional 891 shares in the last quarter. GraniteShares Advisors LLC raised its position in Snap by 2.5% during the second quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. raised its position in Snap by 2.7% during the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock valued at $411,000 after purchasing an additional 956 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in Snap by 4.0% during the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after purchasing an additional 1,048 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position in Snap by 6.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after purchasing an additional 1,232 shares in 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.