Brokerages Set Snap Inc. (NYSE:SNAP) PT at $14.79

Snap Inc. (NYSE:SNAP) has been assigned a consensus rating of “Hold” from the twenty-six analysts that are presently covering the company, Marketbeat.com reports. 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 on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $14.79.

A number of research analysts recently commented on SNAP shares. Wells Fargo & Company increased their price target on shares of Snap from $16.00 to $18.00 and gave the company an “overweight” rating in a report on Friday, April 26th. BMO Capital Markets lowered their price target on shares of Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Rosenblatt Securities increased 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, April 26th. UBS Group reduced their price target on shares of Snap from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, April 16th. Finally, Truist Financial upped their price target on shares of Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, April 26th.

Snap Trading Down 4.5 %

NYSE:SNAP opened at $15.19 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76. The firm has a market capitalization of $24.93 billion, a price-to-earnings ratio of -18.75 and a beta of 1.02. Snap has a one year low of $8.28 and a one year high of $17.90. The business has a fifty day moving average price of $13.06 and a 200-day moving average price of $13.69.

Snap (NYSE:SNAP) last issued its quarterly earnings results 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. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. Sell-side analysts forecast that Snap will post -0.44 EPS for the current year.

Insider Transactions at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $14.27, for a total value of $14,270,000.00. Following the completion of the transaction, the chief technology officer now directly owns 59,894,865 shares in the company, valued at $854,699,723.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $14.27, for a total transaction of $14,270,000.00. Following the transaction, the chief technology officer now directly owns 59,894,865 shares in the company, valued at approximately $854,699,723.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Derek Andersen sold 96,953 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the transaction, the chief financial officer now owns 2,534,689 shares in the company, valued at $27,856,232.11. The disclosure for this sale can be found here. Insiders sold 1,509,829 shares of company stock valued at $21,263,829 over the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

A number of large investors have recently modified their holdings of the company. Swedbank AB acquired a new stake in shares of Snap in the 1st quarter worth about $7,877,000. Virtu Financial LLC acquired a new position in shares of Snap in the first quarter worth about $236,000. Rokos Capital Management LLP acquired a new position in shares of Snap in the first quarter worth about $4,797,000. California State Teachers Retirement System boosted its holdings in shares of Snap by 7.3% during the first quarter. California State Teachers Retirement System now owns 1,534,341 shares of the company’s stock worth $17,614,000 after purchasing an additional 103,755 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Snap by 14.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,671,193 shares of the company’s stock worth $19,185,000 after purchasing an additional 208,046 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

About Snap

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.