Snap (NYSE:SNAP) PT Raised to $14.00

Snap (NYSE:SNAP) had its price target boosted by Evercore ISI from $13.00 to $14.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s target price points to a potential downside of 3.78% from the company’s previous close.

A number of other analysts have also recently commented on SNAP. Rosenblatt Securities lifted their target price on shares of Snap from $12.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday. Canaccord Genuity Group lifted their target price on shares of Snap from $14.00 to $15.00 and gave the stock a “hold” rating in a research note on Friday. Stifel Nicolaus lifted their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday. Piper Sandler lifted their target price on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Finally, Morgan Stanley lowered their target price on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $14.67.

Snap Stock Up 27.6 %

Shares of Snap stock opened at $14.55 on Friday. The firm’s 50 day moving average price is $11.26 and its 200-day moving average price is $12.86. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap has a 52-week low of $7.86 and a 52-week high of $17.90. The company has a market cap of $24.02 billion, a P/E ratio of -17.96 and a beta of 1.13.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative net margin of 26.99% and a negative return on equity of 45.02%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. On average, sell-side analysts predict that Snap will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the sale, the chief financial officer now owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Rebecca Morrow sold 2,442 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares of the company’s stock, valued at approximately $5,423,924. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Derek Andersen sold 96,953 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the sale, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The disclosure for this sale can be found here. In the last quarter, insiders sold 470,482 shares of company stock valued at $5,284,091. 22.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snap

A number of large investors have recently modified their holdings of SNAP. HCR Wealth Advisors grew its holdings in shares of Snap by 10.0% during the third quarter. HCR Wealth Advisors now owns 23,162 shares of the company’s stock worth $206,000 after buying an additional 2,098 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in shares of Snap by 7.6% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 191,542 shares of the company’s stock worth $1,707,000 after buying an additional 13,500 shares in the last quarter. Compass Advisory Group LLC grew its holdings in shares of Snap by 13.2% during the third quarter. Compass Advisory Group LLC now owns 13,678 shares of the company’s stock worth $122,000 after buying an additional 1,591 shares in the last quarter. Avaii Wealth Management LLC grew its holdings in shares of Snap by 24.2% during the third quarter. Avaii Wealth Management LLC now owns 15,819 shares of the company’s stock worth $141,000 after buying an additional 3,080 shares in the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of Snap by 3.6% during the third quarter. Forsta AP Fonden now owns 238,700 shares of the company’s stock worth $2,127,000 after buying an additional 8,400 shares in the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Company Profile

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.