Snap Inc. (NYSE:SNAP) saw an upside of 1.96% to close Monday at $9.36 after adding $0.18 on the day. The 5-day average trading volume is 20,091,301 shares of the company’s common stock. It has gained $9.90 in the past week and touched a new high 1 time within the past 5 days. An average of 33,169,254 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 28,760,420.
SNAP’s 1-month performance is -26.53% or -$3.38 on its low of $8.86 reached on 08/18/23. The company’s shares have touched a 52-week low of $7.33 and high of $13.89, with the stock’s rally to the 52-week high happening on 07/13/23. YTD, SNAP has achieved 4.58% or $0.41 and has reached a new high 20 times. However, the current price is down -32.61% from the 52-week high price.
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Insider Transactions
SNAP stock investors last saw insider trading activity on Aug 17.Hunter Jerry James (Chief Operating Officer) most recently sold 36,943 shares at $9.17 per share on Aug 17. This transaction cost the insider $338,911. Director, Thorpe Poppy, sold 4,921 shares at a price of $9.17 on Aug 17. Then, on Aug 16, SVP of Engineering Young Eric sold 95,303 shares at a price of $9.24 per share. This transaction amounted to $880,342.
Valuation Metrics
SNAP stock has a beta of 1.30. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 3.34 while the price-to-book (PB) in the most recent quarter is 6.00, with the price to cash flow ratio at 184.44.
Snap Inc.’s quick ratio for the period ended June 29 was 5.20, with the current ratio over the same period at 5.20. As well, the company’s long term debt to equity for the quarter ending June 29 was 1.50, while the total debt to equity was 1.50. In terms of profitability, the gross margin trailing 12 months is 58.40%. The trailing 12-month EBITDA margin is -25.93% while for the period ending June 29, Snap Inc.’s operating margin was -33.30%. The firm’s gross profit as reported stood at $2.79 billion against revenue of $4.6 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -11.86% to -$377.31 million, while revenue of -$328.67 million was 12.89% off the previous quarter. Analysts expected SNAP to announce -$0.04 per share in earnings in its latest quarter, but it posted -$0.02, representing a 50.00% surprise. EBITDA for the quarter stood at more than -$362.81 million. SNAP stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 5.16 billion, with total debt at $4.16 billion. Shareholders hold equity totaling $1.62 billion.
Let’s look briefly at Snap Inc. (SNAP) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 28.33% to suggest the stock is trending oversold, with historical volatility in this time period at 29.60%.
The stock’s 5-day moving average is $9.26, reflecting a -5.84% or -$0.58 change from its current price. SNAP is currently trading -26.18% above its 20-day SMA, -15.37% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -6.77% and SMA200 by-8.68%.
Stochastic %K and %D was 11.52% and 5.83% and the average true range (ATR) pointed at 0.38. The RSI (14) points at 31.66%, while the 14-day stochastic is at 21.19% with the period’s ATR at 0.43. The stock’s 9-day MACD Oscillator is pointing at -0.47 and -0.85 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Snap Inc. (NYSE: SNAP), China Renaissance downgraded it to a Sell rating. They previously had a Hold rating on the stock. Analysts offering their rating for SNAP stock have a consensus rating for the stock as Hold. Currently, 4 brokerage advisors rate SNAP as a “sell,”, while 30 advise that investors “Hold.” 1 analysts have rated the stock as underweight. 2 rates the stock as overweight while 4 have offered a “buy” rating.
What is SNAP’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $6.00 and a high of $15.00, with their median price target at $9.50. Looking at these predictions, the average price target given by analysts is for Snap Inc. (SNAP) stock is $9.91.
