Snap (NYSE:SNAP) Given “Overweight” Rating at Barclays

Snap (NYSE:SNAP)‘s stock had its “overweight” rating reiterated by investment analysts at Barclays in a research report issued on Wednesday, MarketBeat.com reports.

SNAP has been the subject of a number of other research reports. Truist Financial boosted their price objective on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Evercore ISI boosted their price objective on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Citigroup boosted their price objective on Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a report on Friday, November 29th. BMO Capital Markets restated an “outperform” rating and set a $16.00 price objective (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 price target on shares of Snap in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.87.

Snap Price Performance

Shares of NYSE SNAP opened at $10.68 on Wednesday. The business’s 50 day moving average price is $11.51 and its two-hundred day moving average price is $10.89. The company has a market cap of $17.90 billion, a PE ratio of -18.40 and a beta of 0.99. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap has a twelve month low of $8.29 and a twelve month high of $17.33.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. On average, analysts predict that Snap will post -0.39 EPS for the current year.

Insider Activity at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 12,315 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.54, for a total transaction of $129,800.10. Following the sale, the general counsel now owns 1,195,567 shares of the company’s stock, valued at approximately $12,601,276.18. This represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Eric Young sold 112,020 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the sale, the senior vice president now directly owns 2,791,048 shares in the company, valued at $29,445,556.40. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 445,184 shares of company stock worth $4,968,189 over the last three months.

Institutional Trading of Snap

Institutional investors have recently bought and sold shares of the company. Inceptionr LLC bought a new position in shares of Snap during the 4th quarter worth about $145,000. Raymond James Financial Inc. bought a new position in shares of Snap during the 4th quarter worth about $3,291,000. Arizona State Retirement System boosted its position in shares of Snap by 2.7% during the 4th quarter. Arizona State Retirement System now owns 306,137 shares of the company’s stock worth $3,297,000 after purchasing an additional 8,133 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Snap by 1.7% during the 4th quarter. Victory Capital Management Inc. now owns 286,080 shares of the company’s stock worth $3,081,000 after purchasing an additional 4,808 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Snap by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock worth $71,095,000 after purchasing an additional 389,812 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

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.