Snap (NYSE:SNAP) Given New $17.00 Price Target at Barclays

Snap (NYSE:SNAP) had its price objective increased by Barclays from $15.00 to $17.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the company. UBS Group cut their price target on Snap from $14.00 to $13.00 and set a neutral rating for the company in a report on Tuesday, April 16th. 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 note on Thursday, February 8th. Stifel Nicolaus reduced their price objective on shares of Snap from $14.00 to $12.00 and set a hold rating on the stock in a research note on Tuesday, April 16th. Susquehanna increased their price target on Snap from $9.50 to $12.00 and gave the company a neutral rating in a research note on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Snap from a hold rating to a buy rating and upped their price objective for the company from $10.00 to $19.00 in a report on Friday, January 26th. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $14.67.

Snap Stock Performance

NYSE:SNAP opened at $14.53 on Friday. 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 firm has a 50-day moving average price of $11.26 and a 200 day moving average price of $12.84. Snap has a 12-month low of $7.86 and a 12-month high of $17.90. The firm has a market capitalization of $23.98 billion, a PE ratio of -17.94 and a beta of 1.13.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 26.99% and a negative return on equity of 45.02%. Research analysts anticipate that Snap will post -0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Eric Young sold 120,472 shares of Snap stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the completion of the sale, the senior vice president now owns 3,540,852 shares of the company’s stock, valued at approximately $39,409,682.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the transaction, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock valued at $5,284,091 over the last 90 days. 22.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snap

Institutional investors have recently made changes to their positions in the company. NBC Securities Inc. boosted its stake in Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after purchasing an additional 1,445 shares during the period. Allworth Financial LP lifted its holdings in shares of Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after buying an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Snap in the fourth quarter valued at about $51,000. Rakuten Securities Inc. acquired a new position in shares of Snap in the fourth quarter valued at about $73,000. Finally, Westpac Banking Corp increased its position in Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after acquiring an additional 2,506 shares during the period. Institutional investors 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.