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

Snap (NYSE:SNAP)‘s stock had its “neutral” rating reiterated by research analysts at Roth Mkm in a research report issued on Tuesday, Benzinga reports. They currently have a $14.00 target price on the stock. Roth Mkm’s price target suggests a potential upside of 26.47% from the company’s current price.

A number of other brokerages also recently weighed in on SNAP. Deutsche Bank Aktiengesellschaft upgraded Snap from a “hold” rating to a “buy” rating and boosted their price target for the company from $10.00 to $19.00 in a report on Friday, January 26th. The Goldman Sachs Group lowered their price target on Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a report on Thursday, February 8th. UBS Group lowered their price target on Snap from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Morgan Stanley reduced their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Wednesday, February 7th. Finally, Stifel Nicolaus reduced their price objective on Snap from $14.00 to $12.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Snap presently has a consensus rating of “Hold” and a consensus price target of $13.86.

Snap Price Performance

SNAP stock opened at $11.07 on Tuesday. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap has a 52-week low of $7.86 and a 52-week high of $17.90. The stock’s 50 day moving average is $11.20 and its two-hundred day moving average is $12.82. The company has a market capitalization of $18.27 billion, a PE ratio of -13.34 and a beta of 1.13.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.04. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.39 billion. Analysts predict that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Rebecca Morrow sold 2,442 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares in the company, valued at $5,423,924. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Rebecca Morrow sold 2,442 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares in the company, valued at $5,423,924. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the sale, the general counsel now directly owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The disclosure for this sale can be found here. Insiders sold a total of 470,482 shares of company stock worth $5,284,091 over the last 90 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. NBC Securities Inc. boosted its holdings in shares of Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after buying an additional 1,445 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of Snap by 75.0% in the third quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock worth $31,000 after buying an additional 1,500 shares during the period. Allworth Financial LP boosted its holdings in shares of Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after buying an additional 1,708 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of Snap in the fourth quarter worth about $51,000. Finally, Rakuten Securities Inc. acquired a new position in shares of Snap in the fourth quarter worth about $73,000. 47.52% of the stock is currently 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.