Snap’s (SNAP) Overweight Rating Reiterated at Barclays

Barclays reaffirmed their overweight rating on shares of Snap (NYSE:SNAP) in a report published on Wednesday morning, MarketBeat reports.

Other analysts have also recently issued research reports about the company. Guggenheim reiterated a “buy” rating and set a $12.11 target price on shares of Snap in a report on Tuesday, December 3rd. Truist Financial upped their price objective on Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $16.00 price objective on shares of Snap in a report on Wednesday, October 30th. Evercore ISI upped their target price on Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 target price on shares of Snap in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.87.

Snap Stock Up 2.0 %

SNAP stock opened at $10.91 on Wednesday. The company’s 50 day moving average price is $11.49 and its 200 day moving average price is $10.89. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The firm has a market capitalization of $18.29 billion, a price-to-earnings ratio of -18.80 and a beta of 0.99.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. On average, equities research analysts anticipate that Snap will post -0.39 EPS for the current fiscal year.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $11.49, for a total value of $206,820.00. Following the completion of the transaction, the general counsel now owns 480,498 shares of the company’s stock, valued at approximately $5,520,922.02. This trade represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Derek Andersen sold 17,789 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $12.00, for a total transaction of $213,468.00. Following the completion of the sale, the chief financial officer now owns 2,176,017 shares in the company, valued at $26,112,204. The trade was a 0.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 445,184 shares of company stock valued at $4,968,189. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently modified their holdings of the business. Citizens Financial Group Inc. RI grew its holdings in shares of Snap by 182.5% in the fourth quarter. Citizens Financial Group Inc. RI now owns 30,602 shares of the company’s stock valued at $330,000 after purchasing an additional 19,769 shares in the last quarter. Independent Advisor Alliance boosted its holdings in shares of Snap by 19.4% in the 4th quarter. Independent Advisor Alliance now owns 20,105 shares of the company’s stock valued at $217,000 after buying an additional 3,267 shares in the last quarter. Inceptionr LLC purchased a new stake in Snap in the 4th quarter valued at $145,000. Raymond James Financial Inc. purchased a new stake in Snap in the 4th quarter valued at $3,291,000. Finally, Arizona State Retirement System raised its position in Snap by 2.7% in the 4th quarter. Arizona State Retirement System now owns 306,137 shares of the company’s stock valued at $3,297,000 after purchasing an additional 8,133 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.