Morgan Stanley Lowers Snap (NYSE:SNAP) Price Target to $11.00

Snap (NYSE:SNAPGet Free Report) had its price target lowered by research analysts at Morgan Stanley from $13.00 to $11.00 in a report released on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price objective suggests a potential downside of 0.81% from the stock’s previous close.

Several other equities analysts have also recently weighed in on SNAP. Rosenblatt Securities lifted their price objective on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday. Roth Mkm lifted their price objective on shares of Snap from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Piper Sandler lifted their price objective on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Susquehanna lifted their price objective on shares of Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Jefferies Financial Group upgraded shares of Snap from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $12.00 to $16.00 in a research report on Thursday, November 30th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus target price of $13.70.

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Snap Price Performance

NYSE SNAP opened at $11.09 on Wednesday. The stock has a market capitalization of $18.26 billion, a P/E ratio of -13.36 and a beta of 1.28. Snap has a 1 year low of $7.86 and a 1 year high of $17.90. The business’s fifty day moving average is $16.14 and its two-hundred day moving average is $12.22. The company has a debt-to-equity ratio of 1.50, a quick ratio of 4.83 and a current ratio of 4.83.

Insiders Place Their Bets

In other Snap news, CAO Rebecca Morrow sold 1,792 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $17.13, for a total transaction of $30,696.96. Following the completion of the transaction, the chief accounting officer now owns 307,026 shares of the company’s stock, valued at approximately $5,259,355.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Snap news, CAO Rebecca Morrow sold 1,792 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $17.13, for a total transaction of $30,696.96. Following the completion of the transaction, the chief accounting officer now owns 307,026 shares of the company’s stock, valued at approximately $5,259,355.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Eric Young sold 119,112 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $11.90, for a total transaction of $1,417,432.80. Following the transaction, the senior vice president now directly owns 3,391,040 shares of the company’s stock, valued at approximately $40,353,376. The disclosure for this sale can be found here. Insiders sold a total of 276,589 shares of company stock valued at $3,796,543 in the last quarter. Insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. NBC Securities Inc. raised its position in shares of Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after buying an additional 1,445 shares during the last quarter. Allworth Financial LP raised its position in shares of Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after buying an additional 1,708 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Snap during the fourth quarter valued at about $29,000. NVP Associates LLC bought a new stake in Snap in the second quarter valued at about $41,000. Finally, Newbridge Financial Services Group Inc. increased its stake in Snap by 75.0% in the third quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock valued at $31,000 after acquiring an additional 1,500 shares during the period. Institutional investors and hedge funds own 44.37% of the company’s stock.

About Snap

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Snap Inc operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images.

Further Reading

Analyst Recommendations for Snap (NYSE:SNAP)

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