Susquehanna Bancshares upgraded shares of Snap (NYSE:SNAP) from a negative rating to a neutral rating in a research report report published on Tuesday, BenzingaRatingsTable reports. They currently have $18.00 price objective on the stock, up from their previous price objective of $12.00.

Several other equities analysts have also issued reports on the stock. Nomura boosted their target price on shares of Snap from $10.00 to $15.00 and gave the company a neutral rating in a report on Wednesday, July 24th. Moffett Nathanson restated a neutral rating and issued a $10.00 target price (up previously from $8.00) on shares of Snap in a report on Monday, July 1st. Pivotal Research reaffirmed a buy rating and issued a $20.50 price target on shares of Snap in a research note on Wednesday, July 24th. Aegis reaffirmed a buy rating and issued a $19.00 price target (up from $17.00) on shares of Snap in a research note on Wednesday, July 24th. Finally, Evercore ISI raised shares of Snap from an in-line rating to an outperform rating and lifted their price target for the company from $18.00 to $20.00 in a research note on Tuesday, September 3rd. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and fourteen have issued a buy rating to the company. Snap currently has a consensus rating of Hold and a consensus target price of $15.46.

SNAP stock opened at $17.04 on Tuesday. The firm has a market cap of $23.50 billion, a price-to-earnings ratio of -17.57 and a beta of 1.12. 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 has a 12-month low of $4.82 and a 12-month high of $18.36. The company’s fifty day simple moving average is $16.19 and its 200 day simple moving average is $13.49.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, July 23rd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.02. The business had revenue of $388.02 million for the quarter, compared to analyst estimates of $358.16 million. Snap had a negative net margin of 77.54% and a negative return on equity of 46.46%. Snap’s revenue for the quarter was up 48.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.14) earnings per share. Research analysts expect that Snap will post -0.71 earnings per share for the current year.

In other Snap news, Director Michael Lynton sold 165,454 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $15.00, for a total value of $2,481,810.00. Following the completion of the sale, the director now directly owns 126,717 shares of the company’s stock, valued at approximately $1,900,755. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Derek Andersen sold 12,618 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $16.70, for a total transaction of $210,720.60. Following the completion of the sale, the chief financial officer now directly owns 1,427,219 shares of the company’s stock, valued at $23,834,557.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,472,570 shares of company stock valued at $92,872,757.

Hedge funds have recently modified their holdings of the business. Prime Capital Investment Advisors LLC bought a new stake in Snap in the 2nd quarter worth about $27,000. Atlas Capital Advisors LLC bought a new stake in Snap in the 2nd quarter worth about $29,000. Catalyst Capital Advisors LLC grew its position in Snap by 38.8% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 2,386 shares of the company’s stock worth $34,000 after purchasing an additional 667 shares in the last quarter. Valeo Financial Advisors LLC grew its position in Snap by 400.0% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,500 shares of the company’s stock worth $36,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Providence Capital Advisors LLC bought a new stake in Snap in the 1st quarter worth about $32,000. 26.84% of the stock is owned by institutional investors and hedge funds.

Snap Company Profile

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.

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Analyst Recommendations for Snap (NYSE:SNAP)

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