Snap (SNAP) Receives a Hold from RBC Capital

In a report released on August 4, Brad Erickson from RBC Capital maintained a Hold rating on Snap, with a price target of $8.00. The company’s shares closed yesterday at $5.79.

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Erickson covers the Communication Services sector, focusing on stocks such as Zillow Group Class A, Meta Platforms, and Snap. According to TipRanks, Erickson has an average return of 4.9% and a 52.44% success rate on recommended stocks.

In addition to RBC Capital, Snap also received a Hold from Citi’s Ronald Josey in a report issued yesterday. However, on August 4, 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.