Goldman Sachs Keeps Their Hold Rating on Snap (SNAP)

In a report released today, Eric Sheridan from Goldman Sachs maintained a Hold rating on Snap, with a price target of $6.50.

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Sheridan covers the Communication Services sector, focusing on stocks such as Snap, Angi, and ZipRecruiter. According to TipRanks, Sheridan has an average return of 7.7% and a 52.86% success rate on recommended stocks.

In addition to Goldman Sachs, Snap also received a Hold from Canaccord Genuity’s Maria Ripps 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.