Snap’s (SNAP) Market Outperform Rating Reiterated at JMP Securities

Snap (NYSE:SNAP)‘s stock had its “market outperform” rating reissued by investment analysts at JMP Securities in a research note issued on Friday,Benzinga reports. They presently have a $16.00 price objective on the stock. JMP Securities’ target price would indicate a potential upside of 42.35% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. UBS Group raised their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. B. Riley lifted their price objective on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 price target on shares of Snap in a research note on Thursday, December 5th. Wells Fargo & Company cut their price objective on shares of Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $14.00 target price on shares of Snap in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.10.

Snap Stock Up 4.4 %

SNAP stock opened at $11.24 on Friday. Snap has a 52 week low of $8.29 and a 52 week high of $17.75. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The company has a market capitalization of $18.85 billion, a price-to-earnings ratio of -19.38 and a beta of 0.97. The firm’s 50-day moving average is $11.51 and its two-hundred day moving average is $11.68.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.21) EPS. On average, analysts forecast that Snap will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total value of $195,120.00. Following the completion of the transaction, the general counsel now owns 498,498 shares in the company, valued at $5,403,718.32. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the sale, the chief technology officer now owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,451,618 shares of company stock worth $17,560,157 over the last three months. 22.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snap

Several large investors have recently modified their holdings of SNAP. Marshall Wace LLP boosted its position in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after purchasing an additional 12,533,653 shares in the last quarter. Geode Capital Management LLC increased its stake in Snap by 5.2% during the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after acquiring an additional 575,324 shares during the last quarter. TB Alternative Assets Ltd. grew its stake in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after buying an additional 4,098,847 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Snap by 62.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after purchasing an additional 2,386,519 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in Snap by 49.6% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company’s stock worth $41,842,000 after acquiring an additional 1,297,348 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

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.