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Jefferies Sticks to Their Buy Rating for Snap (SNAP)

Tipranks - Tipranks - Wed Aug 5, 9:58AM CDT

Jefferies analyst reiterated a Buy rating on Snap today and set a price target of $6.00.

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In addition to Jefferies, Snap also received a Buy from Barclays’s Ross Sandler in a report issued today. However, on the same day, TD Cowen maintained a Hold rating on Snap (NYSE: SNAP).

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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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