Snap’s (SNAP) “Neutral” Rating Reiterated at Susquehanna Bancshares Inc

Susquehanna Bancshares Inc reaffirmed their neutral rating on shares of Snap Inc. (NYSE:SNAP) in a research note issued to investors on Monday morning. The firm currently has a $10.00 target price on the stock, down from their previous target price of $12.00.

Several other equities analysts have also recently commented on the stock. Jefferies Group LLC reaffirmed a buy rating and set a $30.00 price objective on shares of Snap in a research note on Monday, April 17th. Royal Bank Of Canada reaffirmed an outperform rating and set a $31.00 price objective on shares of Snap in a research note on Monday, April 17th. Vetr cut shares of Snap from a buy rating to a hold rating and set a $22.54 price objective for the company. in a research note on Thursday, April 27th. Oppenheimer Holdings, Inc. reaffirmed an outperform rating and set a $23.00 price objective on shares of Snap in a research note on Tuesday, July 11th. Finally, Raymond James Financial, Inc. started coverage on shares of Snap in a research note on Tuesday, April 25th. They set a market perform rating and a $23.48 price objective for the company. Nine analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and thirteen have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $18.58.

Snap (NYSE SNAP) opened at 13.35 on Monday. The firm’s 50 day moving average is $14.58 and its 200-day moving average is $18.92. Snap has a 12 month low of $11.28 and a 12 month high of $29.44. The firm’s market cap is $9.11 billion.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by $0.07. The company had revenue of $181.70 million for the quarter, compared to the consensus estimate of $186.49 million. Snap’s revenue was up 153.1% on a year-over-year basis. On average, equities analysts forecast that Snap will post ($0.63) EPS for the current year.

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In related news, VP Timothy Sehn sold 400,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $12.50, for a total transaction of $5,000,000.00. Following the completion of the sale, the vice president now directly owns 2,204,168 shares in the company, valued at approximately $27,552,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Imran Khan sold 150,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $12.50, for a total transaction of $1,875,000.00. Following the sale, the insider now owns 9,596,464 shares of the company’s stock, valued at $119,955,800. The disclosure for this sale can be found here. Insiders have sold a total of 745,100 shares of company stock valued at $9,313,750 over the last quarter.

A number of large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new stake in Snap during the first quarter worth approximately $252,388,000. US Bancorp DE purchased a new stake in Snap during the first quarter worth approximately $101,000. Global X Management Co. LLC purchased a new stake in Snap during the first quarter worth approximately $3,650,000. Oppenheimer & Co. Inc. purchased a new stake in Snap during the first quarter worth approximately $369,000. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in Snap during the first quarter worth approximately $1,094,000. Institutional investors own 29.24% of the company’s stock.

About Snap

Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.

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