Snap (SNAP) Receives a Hold from Guggenheim

In a report released yesterday, Michael Morris from Guggenheim maintained a Hold rating on Snap, with a price target of $6.50. The company’s shares closed yesterday at $6.04.

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Morris covers the Communication Services sector, focusing on stocks such as Universal Music Group, Walt Disney, and Netflix. According to TipRanks, Morris has an average return of 14.1% and a 55.65% success rate on recommended stocks.

Currently, the analyst consensus on Snap is a Hold with an average price target of $7.72, representing a 27.81% upside. In a report released today, Bank of America Securities also reiterated a Hold rating on the stock with a $8.00 price target.

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.