Snap (NYSE:SNAP) Given “Neutral” Rating at Roth Mkm

Snap (NYSE:SNAP)‘s stock had its “neutral” rating reiterated by investment analysts at Roth Mkm in a research note issued on Wednesday, Benzinga reports. They currently have a $14.00 target price on the stock. Roth Mkm’s target price would suggest a potential upside of 38.89% from the stock’s previous close.

A number of other analysts also recently commented on the company. Argus upgraded Snap to a “hold” rating in a research report on Thursday, August 8th. HSBC lowered shares of Snap from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Morgan Stanley upgraded shares of Snap from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $12.00 to $16.00 in a report on Tuesday, July 23rd. Truist Financial reduced their price target on shares of Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Finally, Bank of America dropped their price objective on shares of Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $13.87.

Snap Stock Performance

NYSE:SNAP opened at $10.08 on Wednesday. The firm’s fifty day simple moving average is $10.70 and its 200-day simple moving average is $12.81. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The stock has a market cap of $16.73 billion, a PE ratio of -12.44 and a beta of 1.00. Snap has a fifty-two week low of $8.28 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.02. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. Analysts expect that Snap will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snap news, 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 transaction, the chief financial officer now owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Derek Andersen sold 97,608 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction of $906,778.32. Following the completion of the sale, the chief financial officer now owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Young sold 114,097 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the completion of the transaction, the senior vice president now owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. The disclosure for this sale can be found here. Insiders have sold a total of 1,511,540 shares of company stock valued at $13,569,906 over the last quarter. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hollencrest Capital Management purchased a new position in Snap in the second quarter valued at about $33,000. Blue Trust Inc. lifted its position in Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares in the last quarter. Rothschild Investment LLC purchased a new position in Snap in the 2nd quarter worth approximately $40,000. J.Safra Asset Management Corp grew its position in Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after acquiring an additional 2,330 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Snap during the fourth quarter valued at approximately $108,000. Institutional investors and hedge funds 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.