Snap (NYSE:SNAP) Price Target Cut to $12.00 by Analysts at Stifel Nicolaus

Snap (NYSE:SNAP) had its target price reduced by Stifel Nicolaus from $14.00 to $12.00 in a research report released on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upgraded Snap from a hold rating to a buy rating and increased their target price for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. Guggenheim raised shares of Snap from a neutral rating to a buy rating and raised their target price for the stock from $9.00 to $23.00 in a research report on Monday, December 18th. The Goldman Sachs Group dropped their price target on shares of Snap from $15.00 to $13.50 and set a neutral rating for the company in a research report on Thursday, February 8th. Truist Financial lifted their price target on shares of Snap from $11.00 to $12.00 and gave the company a hold rating in a report on Wednesday, February 7th. Finally, Wells Fargo & Company dropped their price objective on Snap from $22.00 to $16.00 and set an overweight rating for the company in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $13.86.

Snap Stock Performance

NYSE SNAP opened at $11.17 on Tuesday. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. The stock has a market cap of $18.44 billion, a price-to-earnings ratio of -13.46 and a beta of 1.13. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The business has a fifty day moving average of $11.21 and a 200-day moving average of $12.72.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.39 billion. As a group, analysts predict that Snap will post -0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction dated 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 directly owns 495,526 shares in the company, valued at $5,520,159.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the transaction, the general counsel now directly owns 461,005 shares in the company, valued at approximately $7,449,840.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 9,386 shares of the business’s stock in a transaction dated 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 directly owns 495,526 shares of the company’s stock, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock worth $5,284,091 in the last quarter. 22.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snap

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Snap by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after buying an additional 3,503,230 shares in the last quarter. SRS Investment Management LLC raised its position in shares of Snap by 23.6% during the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after acquiring an additional 12,452,415 shares in the last quarter. Capital World Investors lifted its stake in Snap by 0.6% during the fourth quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock worth $776,868,000 after purchasing an additional 274,176 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Snap by 28.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,959,640 shares of the company’s stock worth $320,988,000 after purchasing an additional 4,243,620 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Snap by 95.8% in the first quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock worth $641,028,000 after purchasing an additional 8,712,380 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.