In a report released yesterday, Thomas Champion from Piper Sandler reiterated a Hold rating on Snap (SNAP – Research Report), with a price target of $15.00. The company’s shares closed yesterday at $17.45.
According to TipRanks, Champion is an analyst with an average return of -0.7% and a 45.59% success rate. Champion covers the Communication Services sector, focusing on stocks such as Pinterest, Meta Platforms, and Alphabet Class A.
In addition to Piper Sandler, Snap also received a Hold from TD Cowen’s John Blackledge in a report issued today. However, on the same day, BMO Capital maintained a Buy rating on 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 99 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.
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