Wells Fargo & Company Lowers Snap (NYSE:SNAP) Price Target to $16.00

Snap (NYSE:SNAPGet Free Report) had its target price decreased by research analysts at Wells Fargo & Company from $22.00 to $16.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 44.27% from the company’s current price.

Several other analysts have also recently issued reports on SNAP. China Renaissance raised Snap from a “sell” rating to a “hold” rating and set a $9.00 price objective on the stock in a report on Thursday, October 26th. Piper Sandler boosted their target price on Snap from $12.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. BMO Capital Markets cut their target price on Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday. Stifel Nicolaus boosted their target price on Snap from $10.00 to $14.00 and gave the company a “hold” rating in a research report on Tuesday, January 9th. Finally, Susquehanna boosted their target price on Snap from $9.50 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $13.70.

Check Out Our Latest Research Report on SNAP

Snap Stock Down 2.8 %

Shares of SNAP opened at $11.09 on Wednesday. The stock has a market capitalization of $18.26 billion, a price-to-earnings 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 50 day simple moving average is $16.14 and its 200-day simple moving average is $12.22. The company has a debt-to-equity ratio of 1.50, a current ratio of 4.83 and a quick ratio of 4.83.

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the transaction, the general counsel now owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the sale, the general counsel now directly owns 461,005 shares in the company, valued at approximately $7,449,840.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rebecca Morrow sold 1,792 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $17.13, for a total value of $30,696.96. Following the sale, the chief accounting officer now owns 307,026 shares of the company’s stock, valued at $5,259,355.38. The disclosure for this sale can be found here. In the last 90 days, 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 Investors Weigh In On Snap

A number of hedge funds have recently made changes to their positions in SNAP. NBC Securities Inc. lifted its stake in shares of Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after purchasing an additional 1,445 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Snap during the 4th quarter worth $29,000. Newbridge Financial Services Group Inc. raised 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 buying an additional 1,500 shares during the last quarter. NVP Associates LLC purchased a new stake in Snap in the second quarter valued at about $41,000. Finally, Allworth Financial LP raised its stake in Snap by 161.6% in 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. 44.37% of the stock is currently owned by hedge funds and other institutional investors.

Snap Company Profile

(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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