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

Snap (NYSE:SNAP)‘s stock had its “market outperform” rating reissued by research analysts at JMP Securities in a report released on Monday,Benzinga reports. They currently have a $16.00 target price on the stock. JMP Securities’ price target would indicate a potential upside of 43.07% from the company’s current price.

A number of other analysts have also recently weighed in on SNAP. Needham & Company LLC reaffirmed a “buy” rating and set a $640.00 target price on shares of Snap in a research note on Thursday, December 5th. Loop Capital boosted their price objective on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group increased their target price on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $16.00 price target (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. Finally, Canaccord Genuity Group raised their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. One 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $36.99.

Snap Stock Performance

NYSE:SNAP opened at $11.18 on Monday. Snap has a twelve month low of $8.29 and a twelve month high of $17.50. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock’s 50-day simple moving average is $11.50 and its 200 day simple moving average is $11.02. The firm has a market capitalization of $18.76 billion, a PE ratio of -19.28 and a beta of 0.98.

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

Insider Buying and Selling at Snap

In other news, CAO Rebecca Morrow sold 2,812 shares of Snap stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 430,252 shares in the company, valued at $4,922,082.88. This trade represents a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was 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 in the company, valued at $715,137,362.50. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,445,184 shares of company stock valued at $17,482,949. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Institutional investors and hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after acquiring an additional 2,386,519 shares during the period. TB Alternative Assets Ltd. boosted its holdings in shares of Snap by 105.6% in the 3rd 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 last quarter. Aigen Investment Management LP bought a new position in Snap during the third quarter valued at about $1,345,000. Invenomic Capital Management LP bought a new stake in Snap in the third quarter worth about $2,349,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in Snap in the third quarter valued at about $832,000. 47.52% of the stock is 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.