Key Points
- Snap insider Ajit Mohan sold 6,797 shares at an average price of $5.82, worth approximately $39,559. The sale covered tax withholding obligations, reducing his stake by 0.14% to 4.97 million shares.
- Snap’s latest quarterly results exceeded expectations, with adjusted EPS of negative $0.10 versus the consensus estimate of negative $0.12 and revenue of $1.60 billion, up 18.9% year over year.
- Analysts maintain a consensus “Hold” rating with a $7.65 price target, while Snap advances its SPECS AI and augmented-reality initiatives through consumer trials and partnerships with NVIDIA, Amazon Web Services and Salesforce.
Snap Inc. (NYSE:SNAP - Get Free Report) insider Ajit Mohan sold 6,797 shares of the firm's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $5.82, for a total value of $39,558.54. Following the completion of the sale, the insider directly owned 4,965,300 shares of the company's stock, valued at $28,898,046. This trade represents a 0.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Ajit Mohan also recently made the following trade(s):
- On Monday, August 17th, Ajit Mohan sold 54,608 shares of Snap stock. The shares were sold at an average price of $5.20, for a total value of $283,961.60.
Snap Price Performance
Shares of NYSE:SNAP opened at $5.53 on Friday. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.75. Snap Inc. has a twelve month low of $3.81 and a twelve month high of $9.28. The stock's 50 day moving average is $5.20 and its 200-day moving average is $5.19. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of -30.69 and a beta of 1.05.
Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.02. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Snap had a negative net margin of 4.90% and a negative return on equity of 14.61%. Snap's revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.16) EPS. Sell-side analysts forecast that Snap Inc. will post -0.02 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on SNAP. DA Davidson boosted their target price on shares of Snap from $5.00 to $5.25 and gave the stock a "neutral" rating in a research report on Tuesday, August 4th. Piper Sandler reaffirmed a "neutral" rating on shares of Snap in a research report on Tuesday, August 4th. Sanford C. Bernstein reiterated a "market perform" rating and set a $5.00 price target on shares of Snap in a research note on Tuesday, July 21st. BMO Capital Markets reissued an "outperform" rating on shares of Snap in a report on Tuesday, August 4th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $8.00 price objective on shares of Snap in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, twenty-four have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Snap currently has a consensus rating of "Hold" and a consensus price target of $7.65.
Read Our Latest Report on SNAP
Institutional Trading of Snap
Hedge funds have recently bought and sold shares of the business. Capital World Investors boosted its position in Snap by 1.4% in the fourth quarter. Capital World Investors now owns 88,452,006 shares of the company's stock worth $713,808,000 after purchasing an additional 1,179,543 shares during the last quarter. Geode Capital Management LLC grew its stake in Snap by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 13,525,119 shares of the company's stock valued at $108,711,000 after purchasing an additional 469,795 shares during the period. Empyrean Capital Partners LP purchased a new stake in shares of Snap during the 1st quarter valued at $25,300,000. Saba Capital Management L.P. increased its position in shares of Snap by 232.5% during the 1st quarter. Saba Capital Management L.P. now owns 4,727,808 shares of the company's stock valued at $21,748,000 after purchasing an additional 3,306,024 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Snap by 44.7% during the 1st quarter. SG Americas Securities LLC now owns 4,535,783 shares of the company's stock worth $20,865,000 after purchasing an additional 1,401,178 shares during the period. 47.52% of the stock is currently owned by institutional investors.
Snap News Summary
Here are the key news stories impacting Snap this week:
- Positive Sentiment: Snap introduced SPECS Intelligence, an anticipatory AI service designed for its $2,000 SPECS AR glasses, iPhones and Macs. The service uses connected apps and personal context to help users manage tasks and goals, positioning Snap in the increasingly competitive consumer AI market. Snap Introduces SPECS Intelligence
- Positive Sentiment: The company expanded SPECS trials and announced enterprise partnerships with NVIDIA, Amazon Web Services and Salesforce, targeting industrial, retail and field-service applications. Enterprise adoption could broaden Snap’s revenue base beyond consumer advertising if the trials convert into commercial deployments. Snap Enterprise AI Partnerships
- Positive Sentiment: Snap emphasized privacy controls for SPECS Intelligence and plans to begin consumer trials on October 1. The privacy-first positioning and new charging case with cellular connectivity may help support adoption. SPECS Experiences and Partnerships
- Neutral Sentiment: Royal Bank of Canada reaffirmed a “Sector Perform” rating but set an $8 price target, implying substantial potential upside from recent trading levels while signaling a lack of strong near-term conviction.
- Neutral Sentiment: Unusual options activity showed call purchases above typical levels, indicating increased speculative interest but not necessarily a fundamental improvement in Snap’s outlook.
- Negative Sentiment: Brokerages maintain a consensus “Hold” rating, underscoring investor caution as Snap continues to report losses and must prove that SPECS can scale profitably. Recent weakness while the broader market advanced also suggests the AI announcements have not yet overcome concerns about execution and monetization. Snap Consensus Hold Rating
Snap Company Profile
(
Get Free Report)
Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, text messages and augmented reality experiences, including Lenses and filters. The platform also offers Stories, Spotlight for short-form video, Snap Map and other tools for discovering and sharing content.
Snap generates most of its business through digital advertising, including advertising displayed across Snapchat's content and communication features.
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