Snap’s (SNAP) “Neutral” Rating Reaffirmed at Roth Mkm

Roth Mkm reiterated their neutral rating on shares of Snap (NYSE:SNAP) in a research report released on Wednesday, Benzinga reports. They currently have a $14.00 price target on the stock.

A number of other equities analysts have also weighed in on SNAP. Argus raised Snap to a hold rating in a research report on Thursday, August 8th. Bank of America lowered their price objective on shares of Snap from $16.00 to $13.00 and set a neutral rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Snap from $17.00 to $14.00 and set a buy rating on the stock in a research report on Friday, August 2nd. Morgan Stanley raised Snap from an underweight rating to an equal weight rating and boosted their price objective for the stock from $12.00 to $16.00 in a report on Tuesday, July 23rd. Finally, HSBC lowered Snap from a buy rating to a hold rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Snap currently has an average rating of Hold and an average price target of $13.76.

Snap Trading Down 0.1 %

NYSE:SNAP opened at $10.06 on Wednesday. Snap has a 12 month low of $8.28 and a 12 month high of $17.90. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of -12.42 and a beta of 1.00. The firm has a fifty day simple moving average of $10.58 and a two-hundred day simple moving average of $12.81.

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

Insiders Place Their Bets

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the sale, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the sale, the chief technology officer now directly owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Eric Young sold 114,097 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the sale, the senior vice president now directly 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 sold 1,511,540 shares of company stock worth $13,569,906 over the last quarter. 22.68% of the stock is currently owned by company insiders.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently bought and sold shares of SNAP. Steward Partners Investment Advisory LLC grew its position in shares of Snap by 2.2% during the 4th 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 boosted its stake 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 buying an additional 941 shares during the period. 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 lifted its stake in Snap by 4.0% during the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock worth $448,000 after purchasing an additional 1,048 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Snap by 6.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock worth $333,000 after purchasing an additional 1,232 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.