J.P. Morgan Sticks to Its Sell Rating for Snap (SNAP)

J.P. Morgan analyst Doug Anmuth maintained a Sell rating on Snap on April 13 and set a price target of $7.00. The company’s shares closed yesterday at $5.15.

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Anmuth covers the Communication Services sector, focusing on stocks such as Meta Platforms, Alphabet Class A, and Netflix. According to TipRanks, Anmuth has an average return of 11.9% and a 57.72% success rate on recommended stocks.

Snap has an analyst consensus of Hold, with a price target consensus of $7.68.

Based on Snap’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.72 billion and a net profit of $45.21 million. In comparison, last year the company earned a revenue of $1.56 billion and had a net profit of $9.1 million

Based on the recent corporate insider activity of 95 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. Last month, Derek Andersen, the CFO of SNAP sold 92,956.00 shares for a total of $426,668.04.