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Snap (SNAP) Gets a Hold Rating from Monness

In a report released today, Brian White from Monness maintained a Hold rating on Snap (SNAPResearch Report). The company’s shares closed last Friday at $35.55.

According to TipRanks.com, White is a 5-star analyst with an average return of 17.5% and a 62.0% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Alphabet Class A, and Meta Platforms.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Snap with a $55.78 average price target, implying a 58.2% upside from current levels. In a report issued on January 24, Wedbush also downgraded the stock to Hold with a $36.00 price target.

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Based on Snap’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.07 billion and GAAP net loss of $71.96 million. In comparison, last year the company earned revenue of $679 million and had a GAAP net loss of $200 million.

Based on the recent corporate insider activity of 157 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 2010 and based in California, Snap, Inc. is a social media company and provides a camera platform in the U.S. and internationally. It has developed many technological products and services including Snapchat, which uses the camera and editing tools to take and share Snaps; Bitmojis, which are personal emojis; Spectacles, which are wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application. The company’s primary source of revenue is advertising.

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