Rosenblatt Securities Remains a Hold on Snap (SNAP)
In a report released today, Barton Crockett from Rosenblatt Securities maintained a Hold rating on Snap, with a price target of $6.00.
Claim 55% Off TipRanks
- Unlock powerful investing tools with TipRanks Premium to make smarter, more confident investment decisions
- Subscribe to TipRanks Smart Investor Newsletter, and discover new investing opportunities with data-backed stock picks
According to TipRanks, Crockett is a 4-star analyst with an average return of 7.3% and a 56.20% success rate. Crockett covers the Communication Services sector, focusing on stocks such as Comcast, Snap, and Taboola.com.
In addition to Rosenblatt Securities, Snap also received a Hold from Bank of America Securities’s Justin Post 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.
Read More on SNAP:
Disclaimer & DisclosureReport an Issue
- Analyst Modestly Raises Snap Price Target to $6.75 but Maintains Hold on Balanced Risk-Reward
- Balanced Risk-Reward Keeps Snap at Hold as Stephen Ju Raises Price Target to $5.70 on Improving Execution but Persistent Structural Risks
- Snap: Solid Q2 Beat but Uncertain Outlook Keeps Hold Rating and $8 Price Target Unchanged
- Morning Movers: Palantir and Caterpillar shares jump following quarterly results
- Snap price target raised to $6 from $5 at Mizuho
