Snap Inc. (NYSE:SNAP) Receives Average “Buy” Rating from Analysts

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Shares of Snap Inc. (NYSE: SNAP – Get Rating) have been assigned a consensus “Buy” rating by the thirty-six analysts who currently cover the company, reports Marketbeat Ratings. One financial analyst assigned the stock a sell rating, seven assigned a hold rating and nineteen issued a buy rating for the company. The 1-year average target price among brokers who have hedged the stock over the past year is $52.14.

A number of research companies have weighed in on SNAP recently. Citigroup upgraded Snap from a “neutral” rating to a “buy” rating and raised its share price target from $41.00 to $50.00 in a Wednesday, April 20 report. Atlantic Securities lowered its target price on Snap from $85.00 to $70.00 and set an “overweight” rating for the company in a Friday, Feb. 4 report. JMP Securities lowered its target price on Snap from $65.00 to $50.00 and set a “market outperformance” rating for the company in a Friday, April 22 report. Goldman Sachs Group reissued a “buy” rating and set a target price of $65.00 on Snap shares in a report on Friday, February 4. Finally, Wells Fargo & Company lowered its target price on Snap from $60.00 to $48.00 and set an “overweight” rating for the company in a Friday, April 22 report.

Separately, CTO Robert C. Murphy sold 900,000 shares of the company in a trade dated Monday, April 25. The stock was sold at an average price of $29.55, for a total transaction of $26,595,000.00. Following the sale, the CTO now directly owns 75,110,002 shares of the company, valued at $2,219,500,559.10. The transaction was disclosed in a document filed with the SEC, which can be accessed on the SEC’s website. Additionally, Chief Financial Officer Derek Andersen sold 8,185 shares of the company in a trade dated Tuesday, February 15. The stock was sold at an average price of $40.28, for a total value of $329,691.80. The disclosure of this sale can be found here. During the last quarter, insiders sold 2,393,234 shares of the company worth $80,926,353.

Several large investors have recently increased or reduced their stake in SNAP. Lone Pine Capital LLC increased its holdings of Snap shares by 47.9% during the fourth quarter. Lone Pine Capital LLC now owns 33,478,637 shares of the company worth $1,574,500,000 after purchasing an additional 10,839,980 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Snap by 123.8% in the fourth quarter. Baillie Gifford & Co. now owns 11,709,169 shares of the company valued at $550,682,000 after acquiring an additional 6,477,834 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in Snap in the third quarter worth approximately $291,169,000. Jennison Associates LLC increased its stake in Snap by 9.3% in the third quarter. Jennison Associates LLC now owns 45,038,008 shares of the company valued at $3,326,958,000 after acquiring an additional 3,833,307 shares in the last quarter. Finally, TD Asset Management Inc. increased its holdings in Snap by 72.7% in the fourth quarter. TD Asset Management Inc. now owns 6,916,034 shares of the company valued at $325,261,000 after acquiring an additional 2,911,656 shares in the last quarter. Institutional investors own 54.85% of the company’s shares.

Snap shares opened at $28.46 on Monday. The company has a fifty-day simple moving average of $34.14 and a two-hundred-day simple moving average of $42.26. Snap has a 1-year low of $24.32 and a 1-year high of $83.34. The company has a market capitalization of $46.23 billion, a price-earnings ratio of -79.06 and a beta of 1.09. The company has a debt ratio of 1.05, a current ratio of 7.19 and a quick ratio of 5.70.

Snap (NYSE:SNAP – Get Rating) last reported quarterly results on Thursday, April 21. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 per ($0.03). Snap had a negative net margin of 12.71% and a negative return on equity of 16.37%. The company posted revenue of $1.06 billion for the quarter, versus analyst estimates of $1.07 billion. During the same period of the previous year, the company achieved EPS of ($0.19). The company’s revenue for the quarter increased by 38.1% compared to the same quarter last year. As a group, stock analysts expect Snap to post -0.43 earnings per share for the current fiscal year.

About Snap (Get a rating)

Snap Inc operates as a camera company in North America, Europe and internationally. The company offers Snapchat, a camera app with various features, such as Camera, Communication, Snap Map, Stories, and Spotlight that allow people to communicate visually through short videos and images.

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