Snap (SNAP) Gets a Hold Rating from Needham

In a report released today, Laura Martin from Needham assigned a Hold rating to Snap (SNAP). The company’s shares closed last Wednesday at $26.41, close to its 52-week high of $26.50.

According to, Martin is a top 100 analyst with an average return of 19.3% and a 65.0% success rate. Martin covers the Services sector, focusing on stocks such as Peloton Interactive, Nielsen Holdings, and World Wrestling.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Snap with a $21.06 average price target, implying a -16.7% downside from current levels. In a report issued on June 24, Wedbush also maintained a Hold rating on the stock with a $16.00 price target.

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Based on Snap’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $462 million and GAAP net loss of $306 million. In comparison, last year the company earned revenue of $320 million and had a GAAP net loss of $310 million.

Based on the recent corporate insider activity of 145 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.

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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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