Loop Capital Markets analyst Rob Sanderson maintained a Buy rating on Snap (SNAP – Research Report) today and set a price target of $21.00. The company’s shares closed yesterday at $17.02.
Sanderson covers the Communication Services sector, focusing on stocks such as Meta Platforms, Snap, and Alphabet Class A. According to TipRanks, Sanderson has an average return of 11.4% and a 56.05% success rate on recommended stocks.
In addition to Loop Capital Markets, Snap also received a Buy from Guggenheim’s Michael Morris in a report issued yesterday. However, on December 14, Piper Sandler assigned a Hold rating to Snap (NYSE: SNAP).
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Based on Snap’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.19 billion and a GAAP net loss of $368.26 million. In comparison, last year the company earned a revenue of $1.13 billion and had a GAAP net loss of $359.5 million
Based on the recent corporate insider activity of 107 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 (SNAP) Company Description:
Founded in 2010 and based in California, Snap, Inc. is a social media company and provides a camera platform in the U.S. and internationally. It has developed many technological products and services including Snapchat, which uses the camera and editing tools to take and share Snaps; Bitmojis, which are personal emojis; Spectacles, which are wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application. The company’s primary source of revenue is advertising.
Read More on SNAP:
- Snap upgraded to Buy from Neutral at Guggenheim
- Buy/Sell: Wall Street’s top 10 stock calls this week
- UK Prime Minister considers regulating youth social media use, Bloomberg says
- Snap price target raised to $12 from $9 at Piper SandlerMeta Platforms
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