Snap (NYSE:SNAP) Stock Rating Lowered by Guggenheim

Guggenheim downgraded shares of Snap (NYSE:SNAP) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, Marketbeat.com reports.

A number of other brokerages also recently weighed in on SNAP. Bank of America boosted their price target on Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating and set a $640.00 target price on shares of Snap in a report on Thursday, December 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 price target (up from $12.00) on shares of Snap in a report on Wednesday, October 30th. Cantor Fitzgerald increased their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, B. Riley lifted their target price on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.87.

Snap Trading Up 1.7 %

SNAP opened at $10.90 on Tuesday. Snap has a 12-month low of $8.29 and a 12-month high of $17.33. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 4.04. The stock has a market capitalization of $18.27 billion, a PE ratio of -25.94 and a beta of 0.99. The firm’s fifty day moving average price is $11.40 and its 200 day moving average price is $10.78.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, research analysts expect that Snap will post -0.26 EPS for the current fiscal year.

Insider Activity at Snap

In other news, CAO Rebecca Morrow sold 11,154 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $117,674.70. Following the completion of the sale, the chief accounting officer now directly owns 465,064 shares of the company’s stock, valued at $4,906,425.20. This trade represents a 2.34 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of Snap stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.54, for a total value of $129,800.10. Following the completion of the transaction, the general counsel now directly owns 1,195,567 shares in the company, valued at $12,601,276.18. This represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 443,518 shares of company stock valued at $4,947,981 over the last 90 days. 22.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snap

A number of large investors have recently made changes to their positions in SNAP. Geode Capital Management LLC grew its position in Snap by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock worth $124,742,000 after purchasing an additional 575,324 shares in the last quarter. TB Alternative Assets Ltd. raised its position in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after buying an additional 4,098,847 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Snap by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock worth $71,095,000 after acquiring an additional 389,812 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted 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 during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in Snap by 0.5% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,245,128 shares of the company’s stock valued at $34,950,000 after acquiring an additional 15,294 shares in the last quarter. Institutional investors and hedge funds 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.