Snap (NYSE:SNAP) Trading 6.1% Higher


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Snap Inc. (NYSE:SNAP)’s share price traded up 6.1% during mid-day trading on Tuesday . The company traded as high as $57.85 and last traded at $57.39. 214,867 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 22,251,713 shares. The stock had previously closed at $54.11.

A number of research analysts have recently issued reports on the stock. Rosenblatt Securities lifted their price objective on shares of Snap from $70.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, March 2nd. Wolfe Research assumed coverage on shares of Snap in a research report on Wednesday, March 31st. They issued an “outperform” rating and a $65.00 price objective on the stock. JMP Securities lifted their price objective on shares of Snap from $40.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. KeyCorp lifted their price objective on shares of Snap from $63.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 2nd. Finally, Pivotal Research reissued a “buy” rating and set a $95.00 target price (up previously from $81.50) on shares of Snap in a research report on Wednesday, February 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. Snap has a consensus rating of “Buy” and an average target price of $66.29.

The firm has a market cap of $90.85 billion, a PE ratio of -80.31 and a beta of 1.29. The stock’s fifty day moving average price is $59.11 and its 200-day moving average price is $48.31. The company has a debt-to-equity ratio of 0.75, a current ratio of 5.43 and a quick ratio of 5.43.

Snap (NYSE:SNAP) last released its earnings results on Thursday, February 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.07). Snap had a negative net margin of 49.74% and a negative return on equity of 48.53%. The business had revenue of $911.32 million during the quarter, compared to analyst estimates of $847.44 million. On average, sell-side analysts anticipate that Snap Inc. will post -0.64 earnings per share for the current fiscal year.

In related news, CTO Robert C. Murphy sold 85,485 shares of the company’s stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $58.54, for a total value of $5,004,291.90. Following the completion of the sale, the chief technology officer now owns 80,661,966 shares of the company’s stock, valued at $4,721,951,489.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joanna Coles sold 2,438 shares of the company’s stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $63.39, for a total transaction of $154,544.82. Following the completion of the sale, the director now directly owns 52,122 shares of the company’s stock, valued at approximately $3,304,013.58. The disclosure for this sale can be found here. Insiders sold 262,663 shares of company stock valued at $14,993,745 in the last three months.

A number of hedge funds and other institutional investors have recently bought and sold shares of SNAP. Riggs Asset Managment Co. Inc. acquired a new position in Snap in the fourth quarter valued at about $25,000. Capital Asset Advisory Services LLC acquired a new position in Snap in the fourth quarter valued at about $25,000. Joseph P. Lucia & Associates LLC acquired a new position in Snap in the fourth quarter valued at about $31,000. Arlington Partners LLC lifted its position in Snap by 43.8% in the fourth quarter. Arlington Partners LLC now owns 719 shares of the company’s stock valued at $36,000 after buying an additional 219 shares during the last quarter. Finally, Oder Investment Management LLC acquired a new position in Snap in the fourth quarter valued at about $41,000. 47.52% of the stock is currently owned by institutional investors.

About Snap (NYSE:SNAP)

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures video from a human perspective; and advertising products, including AR and Snap ads.

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