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Mizuho Securities Sticks to Their Hold Rating for Snap (SNAP)

Tipranks - Wed Aug 5, 9:10AM CDT

Mizuho Securities analyst Lloyd Walmsley maintained a Hold rating on Snap today and set a price target of $6.00.

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According to TipRanks, Walmsley is a 5-star analyst with an average return of 24.9% and a 63.64% success rate. Walmsley covers the Communication Services sector, focusing on stocks such as Meta Platforms, Snap, and Pinterest.

In addition to Mizuho Securities, Snap also received a Hold from Piper Sandler’s Thomas Champion in a report issued today. However, on the same day, Barclays maintained a Buy 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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