Snap (NYSE:SNAP) Given Average Rating at Guggenheim

Guggenheim reiterated their average rating on shares of Snap (NYSE:SNAP) in a research report released on Friday, AnalystRatings.com reports. Guggenheim currently has a $85.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Snap from a hold rating to a buy rating and set a $82.00 target price for the company in a research report on Monday, July 26th. Rosenblatt Securities reiterated a buy rating and set a $100.00 target price on shares of Snap in a research report on Friday, July 23rd. JMP Securities lifted their price target on shares of Snap from $89.00 to $94.00 and gave the stock an outperform rating in a research note on Friday, July 23rd. Stifel Nicolaus lifted their price target on shares of Snap from $84.00 to $95.00 and gave the stock a buy rating in a research note on Friday, July 23rd. Finally, KeyCorp lifted their target price on shares of Snap from $80.00 to $88.00 and gave the stock an overweight rating in a research note on Friday, July 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirty have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $77.31.

Shares of SNAP stock traded up $3.74 during trading hours on Friday, reaching $83.11. The stock had a trading volume of 29,020,803 shares, compared to its average volume of 20,179,701. The stock’s fifty day simple moving average is $73.80 and its 200 day simple moving average is $64.75. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.88. Snap has a 12 month low of $24.13 and a 12 month high of $83.34. The firm has a market capitalization of $131.41 billion, a PE ratio of -162.96 and a beta of 1.27.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, July 22nd. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.28. Snap had a negative net margin of 22.49% and a negative return on equity of 32.45%. The business had revenue of $982.11 million during the quarter, compared to analyst estimates of $846.57 million. During the same period in the previous year, the business posted ($0.09) earnings per share. Snap’s revenue for the quarter was up 116.2% on a year-over-year basis. As a group, equities research analysts anticipate that Snap will post -0.4 EPS for the current fiscal year.

In other Snap news, CEO Evan Spiegel sold 312,113 shares of the company’s stock in a transaction dated Tuesday, August 10th. The shares were sold at an average price of $80.10, for a total transaction of $25,000,251.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joanna Coles sold 1,887 shares of the company’s stock in a transaction dated Wednesday, July 14th. The shares were sold at an average price of $64.53, for a total transaction of $121,768.11. Following the sale, the director now directly owns 41,640 shares of the company’s stock, valued at approximately $2,687,029.20. The disclosure for this sale can be found here. Insiders have sold a total of 4,021,237 shares of company stock worth $300,417,072 in the last 90 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNAP. Anfield Capital Management LLC purchased a new stake in Snap in the 2nd quarter worth approximately $27,000. Howe & Rusling Inc. bought a new position in Snap in the 1st quarter worth approximately $29,000. Glassman Wealth Services boosted its stake in Snap by 527.9% in the 2nd quarter. Glassman Wealth Services now owns 427 shares of the company’s stock worth $29,000 after purchasing an additional 359 shares during the period. Samalin Investment Counsel LLC bought a new position in Snap in the 2nd quarter worth approximately $31,000. Finally, First Manhattan Co. boosted its stake in Snap by 66.7% in the 1st quarter. First Manhattan Co. now owns 625 shares of the company’s stock worth $32,000 after purchasing an additional 250 shares during the period. 52.55% of the stock is owned by hedge funds and other institutional investors.

Snap Company Profile

Snap, Inc engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application.

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Analyst Recommendations for Snap (NYSE:SNAP)

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