Snap Inc [SNAP] attracts people because of its fundamentals

Snap Inc (NYSE:SNAP) shares traded -0.18% lower at $11.30 on Wall Street last session.

In accordance with the data, 41 analysts cover Snap Inc (NYSE:SNAP). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $7.00, we find $10.00. Given the previous closing price of $11.32, this indicates a potential downside of -11.66 percent. SNAP stock price is now 19.58% away from the 50-day moving average and 9.79% away from the 200-day moving average. The market capitalization of the company currently stands at $18.60B.

It has been rated a hold by 31 analysts and a buy by 3. Brokers who have rated the stock have averaged $10.07 as their price target over the next twelve months.

With the price target maintained at $9, China Renaissance recently Upgraded its rating from Sell to Hold for Snap Inc (NYSE: SNAP).

In other news, O’Sullivan Michael J., General Counsel sold 13,000 shares of the company’s stock on Oct 31. The stock was sold for $129,117 at an average price of $9.93. Upon completion of the transaction, the General Counsel now directly owns 469,584 shares in the company, valued at $5.31 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 26, Chief Technology Officer Murphy Robert C. sold 1,000,000 shares of the business’s stock. A total of $9,048,100 was realized by selling the stock at an average price of $9.05. This leaves the insider owning 67,572,851 shares of the company worth $763.57 million. Insiders disposed of 8,040,030 shares of company stock worth roughly $90.85 million over the past 1 year. A total of 37.74% of the company’s stock is owned by insiders.

Snap Inc (NYSE: SNAP) opened at $11.33 on Monday. During the past 12 months, Snap Inc has had a low of $7.86 and a high of $13.89. As of last week, the company has a debt-to-equity ratio of 1.67, a current ratio of 4.83, and a quick ratio of 4.83. The fifty day moving average price for SNAP is $9.45 and a two-hundred day moving average price translates $10.29 for the stock.

The latest earnings results from Snap Inc (NYSE: SNAP) was released for Sep, 2023. According to the Internet Content & Information Company, earnings per share came in at $0.02, beating analysts’ expectations of -$0.04 by 0.06. This compares to -$0.22 EPS in the same period last year. The net profit margin was -29.99% and return on equity was -50.53% for SNAP. The company reported revenue of $1.19 billion for the quarter, compared to $1.13 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.32 percent. For the current quarter, analysts expect SNAP to generate $1.36B in revenue.

Snap Inc(SNAP) Company Profile

Snap Inc. operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures photos and video from a human perspective; and advertising products, including AR ads and Snap ads comprises a single image or video ads, story ads, collection ads, dynamic ads, and commercials. The company was formerly known as Snapchat, Inc. and changed its name to Snap Inc. in September 2016. Snap Inc. was founded in 2010 and is headquartered in Santa Monica, California.

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