Snap Inc. (NYSE:SNAP) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 122,673,184 shares, a growth of 6.8% from the October 31st total of 114,874,543 shares. Based on an average daily trading volume, of 36,178,156 shares, the days-to-cover ratio is currently 3.4 days. Approximately 31.3% of the company’s stock are short sold.
Several brokerages have commented on SNAP. J P Morgan Chase & Co reissued a “neutral” rating and set a $14.00 price target (down from $16.00) on shares of Snap in a research report on Monday, September 25th. Wedbush began coverage on shares of Snap in a research report on Wednesday, August 30th. They set a “neutral” rating and a $12.00 price target on the stock. Monness Crespi & Hardt cut shares of Snap from a “buy” rating to a “neutral” rating in a research report on Friday, August 11th. Bank of America cut their price target on shares of Snap from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 8th. Finally, Vetr cut shares of Snap from a “buy” rating to a “hold” rating and set a $13.95 price target on the stock. in a research report on Monday, August 7th. Fifteen research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $16.98.
In other Snap news, Director Mitchell Lasky sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $12.38, for a total transaction of $309,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Andrew Vollero sold 37,874 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $14.64, for a total transaction of $554,475.36. Following the sale, the chief financial officer now directly owns 1,797,644 shares in the company, valued at $26,317,508.16. The disclosure for this sale can be found here. Insiders have sold a total of 4,151,851 shares of company stock worth $55,221,124 over the last three months.
Snap (NYSE SNAP) opened at $13.87 on Friday. Snap has a fifty-two week low of $11.28 and a fifty-two week high of $29.44.
Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.17. The company had revenue of $207.90 million during the quarter, compared to the consensus estimate of $236.71 million. Snap’s quarterly revenue was up 62.2% on a year-over-year basis. analysts forecast that Snap will post -3.04 earnings per share for the current fiscal year.
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.
What are top analysts saying about Snap Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Snap Inc. and related companies.