In a report released today, Laura Martin from Needham maintained a Hold rating on Snap (SNAP). The company’s shares closed last Tuesday at $28.45, close to its 52-week high of $28.56.
According to TipRanks.com, Martin is a top 100 analyst with an average return of 23.3% and a 64.6% success rate. Martin covers the Services sector, focusing on stocks such as Peloton Interactive, World Wrestling, and Walt Disney.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Snap with a $32.04 average price target, representing a 13.3% upside. In a report issued on October 16, Wedbush also reiterated a Hold rating on the stock with a $25.00 price target.
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Based on Snap’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $454 million and GAAP net loss of $326 million. In comparison, last year the company earned revenue of $388 million and had a GAAP net loss of $255 million.
Based on the recent corporate insider activity of 150 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNAP in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Snap, Inc. engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application. The company’s primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C. Murphy in 2010 and is headquartered in Santa Monica, CA.
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