Piper Sandler Keeps Their Hold Rating on Snap (SNAP)
Piper Sandler analyst Thomas Champion reiterated a Hold rating on Snap today and set a price target of $8.00.
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According to TipRanks, Champion is a 4-star analyst with an average return of 6.4% and a 51.34% success rate. Champion covers the Communication Services sector, focusing on stocks such as Alphabet Class A, Roku, and Meta Platforms.
In addition to Piper Sandler, Snap also received a Hold from Mizuho Securities’s Lloyd Walmsley in a report issued today. However, on the same day, J.P. Morgan maintained a Sell rating on Snap (NYSE: SNAP).
Based on Snap’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.6 billion and a GAAP net loss of $163.96 million. In comparison, last year the company earned a revenue of $1.34 billion and had a GAAP net loss of $262.57 million
Based on the recent corporate insider activity of 88 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, Ajit Mohan, the CBO of SNAP sold 24,263.00 shares for a total of $114,278.73.
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