Snap (NYSE:SNAP) Stock Price Up 6% – Still a Buy?

Snap Inc. (NYSE:SNAP)’s stock price was up 6% during mid-day trading on Friday . The company traded as high as $12.08 and last traded at $11.92. Approximately 3,217,824 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 9,269,524 shares. The stock had previously closed at $11.24.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Stifel Nicolaus cut their price target on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Bank of America raised their target price on shares of Snap from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Benchmark reiterated a “hold” rating on shares of Snap in a research note on Friday, October 25th. B. Riley increased their price objective on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their target price on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $37.10.

Snap Trading Up 6.5 %

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 business has a 50 day moving average price of $11.54 and a 200-day moving average price of $11.65. The firm has a market capitalization of $20.08 billion, a PE ratio of -20.64 and a beta of 0.97.

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

Insiders Place Their Bets

In other Snap news, CAO Rebecca Morrow sold 11,154 shares of Snap stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $117,674.70. Following the completion of the transaction, the chief accounting officer now owns 465,064 shares in the company, valued at approximately $4,906,425.20. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of the stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 1,195,567 shares in the company, valued at $12,601,276.18. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,451,618 shares of company stock worth $17,560,157. 22.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snap

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Snap in the third quarter worth $29,000. Paladin Wealth LLC acquired a new position in Snap in the 3rd quarter valued at about $30,000. Advisors Asset Management Inc. raised its stake in Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares during the last quarter. Hollencrest Capital Management purchased a new position in Snap in the 2nd quarter valued at about $33,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Snap during the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.