Snap Inc. (NYSE:SNAP) Receives $13.70 Average Price Target from Analysts

Snap Inc. (NYSE:SNAPGet Free Report) has earned an average rating of “Hold” from the twenty-one research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $13.70.

SNAP has been the topic of a number of research reports. Rosenblatt Securities boosted their price objective on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company cut their target price on Snap from $22.00 to $16.00 and set an “overweight” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on Snap from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Wednesday, October 25th. Susquehanna lifted their price target on Snap from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, BMO Capital Markets lowered their price target on Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday.

Check Out Our Latest Stock Analysis on SNAP

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 35,683 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $11.90, for a total value of $424,627.70. Following the completion of the transaction, the general counsel now directly owns 1,016,181 shares of the company’s stock, valued at approximately $12,092,553.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, General Counsel Michael J. O’sullivan sold 35,683 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $11.90, for a total transaction of $424,627.70. Following the sale, the general counsel now directly owns 1,016,181 shares in the company, valued at approximately $12,092,553.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 1,792 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $17.13, for a total value of $30,696.96. Following the completion of the transaction, the chief accounting officer now owns 307,026 shares in the company, valued at $5,259,355.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,589 shares of company stock valued at $3,796,543. Corporate insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Sowell Financial Services LLC raised its stake in shares of Snap by 3.3% in the 4th quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock valued at $392,000 after purchasing an additional 729 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Snap by 7.4% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,440 shares of the company’s stock valued at $176,000 after purchasing an additional 930 shares during the period. U.S. Capital Wealth Advisors LLC raised its stake in shares of Snap by 3.3% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock valued at $533,000 after purchasing an additional 1,000 shares during the period. Impax Asset Management Group plc raised its stake in shares of Snap by 4.5% in the 3rd quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock valued at $209,000 after purchasing an additional 1,017 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Snap by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock valued at $137,000 after purchasing an additional 1,025 shares during the period. Institutional investors and hedge funds own 44.37% of the company’s stock.

Snap Trading Up 0.1 %

Shares of SNAP stock opened at $11.11 on Friday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.83 and a current ratio of 4.39. Snap has a 1 year low of $7.86 and a 1 year high of $17.90. The stock has a fifty day moving average of $16.08 and a two-hundred day moving average of $12.21. The firm has a market capitalization of $18.29 billion, a PE ratio of -13.39 and a beta of 1.28.

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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