JMP Securities Reaffirms Market Outperform Rating for Snap (NYSE:SNAP)

JMP Securities reissued their market outperform rating on shares of Snap (NYSE:SNAP) in a research note released on Monday morning,Benzinga reports. JMP Securities currently has a $16.00 price objective on the stock.

Other research analysts have also recently issued research reports about the stock. Benchmark reaffirmed a “hold” rating on shares of Snap in a report on Friday, October 25th. Evercore ISI lifted their price target on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Guggenheim reiterated a “buy” rating and set a $12.11 price target on shares of Snap in a research note on Tuesday, December 3rd. The Goldman Sachs Group raised their price objective on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Loop Capital increased their price target on shares of Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Snap currently has an average rating of “Hold” and a consensus target price of $36.99.

Snap Price Performance

Shares of SNAP stock opened at $10.85 on Monday. The stock’s 50-day moving average is $11.49 and its 200 day moving average is $11.06. Snap has a 1-year low of $8.29 and a 1-year high of $17.50. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The company has a market cap of $18.19 billion, a P/E ratio of -18.70 and a beta of 0.98.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the business posted ($0.21) EPS. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. Research analysts predict that Snap will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Michael J. O’sullivan sold 12,315 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.54, for a total transaction of $129,800.10. Following the transaction, the general counsel now directly owns 1,195,567 shares in the company, valued at approximately $12,601,276.18. The trade was a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the completion of the sale, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,451,618 shares of company stock worth $17,560,157. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Snap by 42.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 82,750 shares of the company’s stock worth $909,000 after acquiring an additional 24,533 shares during the period. Stratos Wealth Partners LTD. increased its position in Snap by 7.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 37,668 shares of the company’s stock worth $406,000 after purchasing an additional 2,610 shares during the last quarter. SYM FINANCIAL Corp raised its stake in Snap by 17.9% during the fourth quarter. SYM FINANCIAL Corp now owns 18,507 shares of the company’s stock worth $199,000 after purchasing an additional 2,810 shares during the period. Baader Bank Aktiengesellschaft boosted its holdings in Snap by 23.1% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 160,791 shares of the company’s stock valued at $1,731,000 after purchasing an additional 30,126 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of Snap by 9.7% in the 4th quarter. Swedbank AB now owns 167,431 shares of the company’s stock valued at $1,803,000 after buying an additional 14,868 shares during the period. 47.52% of the stock is currently 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.