Snap (SNAP) Earning Somewhat Favorable News Coverage, Report Shows
Media stories about Snap (NYSE:SNAP) have been trending somewhat positive this week, according to Accern Sentiment. Accern identifies positive and negative news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Snap earned a media sentiment score of 0.09 on Accern’s scale. Accern also assigned media headlines about the company an impact score of 46.4854218440099 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the news stories that may have effected Accern Sentiment’s analysis:
- Andrew Vollero Sells 37,874 Shares of Snap Inc. (SNAP) Stock (americanbankingnews.com)
- BidaskClub Downgrades Snap Inc. (SNAP) to Sell (americanbankingnews.com)
- Why Dr Pepper Snapple Group Inc. (DPS) Shares Are Down Today (investorplace.com)
- Snap (SNAP) Stock is Doomed, Get Out Now! (investorplace.com)
- Forget Snap Inc (SNAP): Buy These Money Makers Instead – Investorplace.com (investorplace.com)
A number of research analysts recently issued reports on the company. Piper Jaffray Companies restated a “neutral” rating and set a $16.50 price target (down previously from $20.00) on shares of Snap in a report on Thursday, July 13th. SunTrust Banks, Inc. started coverage on Snap in a report on Tuesday, August 15th. They set a “sell” rating and a $10.00 target price on the stock. Zacks Investment Research upgraded Snap from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Aegis reiterated a “hold” rating on shares of Snap in a report on Wednesday, May 31st. Finally, Vetr downgraded Snap from a “strong-buy” rating to a “buy” rating and set a $24.14 target price on the stock. in a report on Thursday, May 25th. Eleven research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $18.31.
Snap (NYSE SNAP) traded down 0.51% during trading on Friday, reaching $13.70. The company had a trading volume of 12,309,753 shares. The stock’s market capitalization is $16.40 billion. Snap has a 12-month low of $13.62 and a 12-month high of $29.44. The stock has a 50 day moving average of $15.03 and a 200-day moving average of $15.03.
Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.07). The business had revenue of $181.70 million for the quarter, compared to analyst estimates of $186.49 million. The business’s revenue for the quarter was up 153.1% compared to the same quarter last year. On average, analysts forecast that Snap will post ($0.64) earnings per share for the current fiscal year.
In other news, CFO Andrew Vollero sold 37,874 shares of Snap stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $14.64, for a total transaction of $554,475.36. Following the completion of the sale, the chief financial officer now directly owns 1,797,644 shares in the company, valued at $26,317,508.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Imran Khan sold 150,000 shares of Snap stock in a transaction on Monday, August 14th. The stock was 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 sold 1,733,598 shares of company stock worth $23,764,362 over the last ninety days.
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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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