Snap (NYSE:SNAP) Earns Buy Rating from Stifel Nicolaus

Snap (NYSE:SNAP)‘s stock had its “buy” rating restated by equities researchers at Stifel Nicolaus in a report issued on Monday, AnalystRatings.com reports. They currently have a $19.00 target price on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 40.53% from the stock’s current price.

Several other analysts have also recently weighed in on the stock. Susquehanna Bancshares raised shares of Snap from a “negative” rating to a “neutral” rating and raised their target price for the company from $12.00 to $18.00 in a report on Tuesday, September 17th. MKM Partners assumed coverage on shares of Snap in a report on Friday. They issued a “neutral” rating and a $16.00 target price on the stock. ValuEngine cut shares of Snap from a “buy” rating to a “hold” rating in a report on Wednesday, September 25th. Goldman Sachs Group raised shares of Snap from a “neutral” rating to a “buy” rating and raised their target price for the company from $13.00 to $18.00 in a report on Friday, July 12th. Finally, UBS Group raised shares of Snap from a “sell” rating to a “neutral” rating and raised their target price for the company from $8.00 to $16.00 in a report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and fifteen have given a buy rating to the company. Snap presently has a consensus rating of “Hold” and a consensus target price of $16.48.

Shares of NYSE:SNAP opened at $13.52 on Monday. The firm’s 50 day moving average price is $15.51 and its 200 day moving average price is $14.14. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of -13.94 and a beta of 1.11. Snap has a fifty-two week low of $4.82 and a fifty-two week high of $18.36. The company has a quick ratio of 4.53, a current ratio of 4.53 and a debt-to-equity ratio of 0.15.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.02. The firm had revenue of $388.02 million for the quarter, compared to analysts’ expectations of $358.16 million. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. The firm’s revenue was up 48.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.14) earnings per share. On average, equities analysts anticipate that Snap will post -0.71 EPS for the current year.

In other news, CEO Evan Spiegel sold 2,780,306 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $18.01, for a total transaction of $50,073,311.06. Following the transaction, the chief executive officer now directly owns 69,958,498 shares in the company, valued at $1,259,952,548.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jerry James Hunter sold 117,782 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $16.10, for a total transaction of $1,896,290.20. Following the transaction, the vice president now owns 1,614,425 shares in the company, valued at $25,992,242.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,075,045 shares of company stock worth $86,802,372.

Institutional investors and hedge funds have recently made changes to their positions in the company. Prime Capital Investment Advisors LLC purchased a new position in shares of Snap during the second quarter worth approximately $27,000. Atlas Capital Advisors LLC purchased a new position in shares of Snap during the second quarter worth approximately $29,000. Optimum Investment Advisors purchased a new position in shares of Snap during the third quarter worth approximately $32,000. Catalyst Capital Advisors LLC grew its position in shares of Snap by 38.8% during the second quarter. Catalyst Capital Advisors LLC now owns 2,386 shares of the company’s stock worth $34,000 after acquiring an additional 667 shares during the last quarter. Finally, Valeo Financial Advisors LLC grew its position in shares of Snap by 400.0% during the second quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock worth $36,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 26.88% of the company’s stock.

About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

Further Reading: Strangles

Analyst Recommendations for Snap (NYSE:SNAP)

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