Snap (NYSE:SNAP) PT Raised to $12.00

Snap (NYSE:SNAPGet Free Report) had its target price upped by Rosenblatt Securities from $11.00 to $12.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Rosenblatt Securities’ price objective would indicate a potential upside of 8.21% from the company’s current price.

SNAP has been the subject of several other reports. Stifel Nicolaus increased their price target on Snap from $10.00 to $14.00 and gave the stock a “hold” rating in a report on Tuesday, January 9th. Morgan Stanley boosted their price target on Snap from $6.50 to $7.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 25th. Roth Mkm increased their price target on Snap from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Jefferies Financial Group raised Snap from a “hold” rating to a “buy” rating and raised their price target for the stock from $12.00 to $16.00 in a research note on Thursday, November 30th. Finally, BMO Capital Markets began coverage on Snap in a report on Tuesday, January 9th. They set an “outperform” rating and a $22.00 price objective on the stock. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.70.

Check Out Our Latest Stock Report on SNAP

Snap Stock Down 2.8 %

SNAP stock opened at $11.09 on Wednesday. The company’s 50 day moving average price is $16.14 and its 200 day moving average price 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. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The firm has a market capitalization of $18.26 billion, a price-to-earnings ratio of -13.36 and a beta of 1.28.

Insider Activity

In other news, CFO Derek Andersen sold 10,047 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $12.15, for a total transaction of $122,071.05. Following the completion of the sale, the chief financial officer now owns 2,333,483 shares in the company, valued at $28,351,818.45. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Derek Andersen sold 10,047 shares of the company’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $12.15, for a total transaction of $122,071.05. Following the transaction, the chief financial officer now owns 2,333,483 shares of the company’s stock, valued at approximately $28,351,818.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the sale, the general counsel now owns 461,005 shares in the company, valued at $7,449,840.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,589 shares of company stock valued at $3,796,543. 22.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SNAP. NBC Securities Inc. grew its holdings in Snap by 2,580.4% during the 4th 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 in the last quarter. Allworth Financial LP grew its holdings in Snap by 161.6% during the 4th 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 in the last quarter. ICA Group Wealth Management LLC purchased a new position in Snap during the 4th quarter valued at approximately $29,000. NVP Associates LLC purchased a new position in Snap during the 2nd quarter valued at approximately $41,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Snap by 75.0% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock valued at $31,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors own 44.37% of the company’s stock.

About Snap

(Get Free Report)

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.

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Analyst Recommendations for Snap (NYSE:SNAP)

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