Fri Sep 20 12:15:59 UTC 2024: ## Snap (SNAP) Receives Mixed Analyst Ratings Amidst Insider Selling

**New York, NY** – Snap Inc. (NYSE: SNAP) has been the subject of a flurry of analyst reports in recent weeks, with analysts issuing a mix of “hold” and “neutral” ratings. B. Riley initiated coverage on the stock with a “neutral” rating and a $11.00 price target, suggesting a potential upside of 9.13% from the current price. However, several other analysts have expressed caution.

Goldman Sachs, Susquehanna, and Citigroup all lowered their price targets on Snap, citing concerns about the company’s growth prospects. Meanwhile, Benchmark reaffirmed a “hold” rating, and Cantor Fitzgerald initiated coverage with a “neutral” rating and a $8.00 price target.

Adding to the mixed sentiment, Snap’s recent earnings report showed a beat on earnings per share, but revenue fell short of expectations. The company also reported negative return on equity and net margin, fueling investor concerns.

Adding to the negative sentiment, insiders have been selling shares of Snap. CTO Robert C. Murphy sold 1 million shares for a total value of $8.69 million, and CAO Rebecca Morrow sold 8,923 shares for $81,199.30. In the last three months, insiders sold a total of 1,511,540 shares, representing 22.68% of the company’s stock.

While institutional investors have been making some purchases, overall, the recent news surrounding Snap suggests a cautious outlook. Investors are closely watching the company’s future performance, particularly its ability to navigate the challenging advertising landscape.

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