Snap (NYSE:SNAP) Price Target Increased to $15.00 by Analysts at Susquehanna

Snap (NYSE:SNAP) had its target price hoisted by Susquehanna from $12.00 to $15.00 in a research note issued to investors on Monday, Benzinga reports. Susquehanna currently has a neutral rating on the stock.

Several other analysts have also commented on SNAP. The Goldman Sachs Group raised their price objective on Snap from $13.50 to $16.00 and gave the company a neutral rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised Snap from a hold rating to a buy rating and raised their price objective for the company from $10.00 to $19.00 in a report on Friday, January 26th. BMO Capital Markets dropped their price objective on Snap from $22.00 to $20.00 and set an outperform rating on the stock in a report on Wednesday, February 7th. UBS Group dropped their price objective on Snap from $14.00 to $13.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. Finally, HSBC raised Snap from a reduce rating to a buy rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Snap has an average rating of Hold and a consensus target price of $14.79.

Snap Stock Down 0.4 %

Snap stock opened at $14.49 on Monday. Snap has a 52 week low of $7.86 and a 52 week high of $17.90. The business’s 50-day moving average price is $11.33 and its 200 day moving average price is $12.93. 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 (NYSE:SNAP) last posted its earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. Sell-side analysts predict that Snap will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Snap news, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.14, for a total transaction of $104,560.04. Following the completion of the sale, the chief accounting officer now owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now directly owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the sale, the chief accounting officer now directly owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 470,482 shares of company stock worth $5,284,091.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in Snap by 11.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 129,057 shares of the company’s stock worth $1,482,000 after purchasing an additional 13,055 shares in the last quarter. Lindbrook Capital LLC grew its stake in Snap by 44,707.8% during the 1st quarter. Lindbrook Capital LLC now owns 355,326 shares of the company’s stock worth $4,079,000 after purchasing an additional 354,533 shares in the last quarter. TRUE Private Wealth Advisors grew its stake in Snap by 6.1% during the 1st quarter. TRUE Private Wealth Advisors now owns 49,642 shares of the company’s stock worth $570,000 after purchasing an additional 2,850 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Snap by 12.5% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 209,242 shares of the company’s stock worth $2,402,000 after purchasing an additional 23,300 shares in the last quarter. Finally, Pegasus Partners Ltd. acquired a new position in Snap during the 1st quarter worth $367,000. 47.52% of the stock is owned by institutional investors and hedge funds.

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.