Snap (NYSE:SNAP) Price Target Raised to $13.00

Snap (NYSE:SNAP) had its price target increased by Stifel Nicolaus from $12.00 to $13.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other research analysts have also recently commented on the company. BMO Capital Markets decreased their price target on Snap from $22.00 to $20.00 and set an outperform rating on the stock in a research report on Wednesday, February 7th. Barclays raised their price target on Snap from $15.00 to $17.00 and gave the stock an overweight rating in a research report on Friday. HSBC upgraded Snap from a reduce rating to a buy rating in a research report on Friday. Truist Financial raised their price objective on Snap from $12.00 to $16.00 and gave the company a hold rating in a research note on Friday. Finally, Canaccord Genuity Group raised their price objective on Snap from $14.00 to $15.00 and gave the company a hold rating in a research note on Friday. 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. According to MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $14.67.

Snap Trading Up 27.5 %

NYSE:SNAP opened at $14.53 on Friday. The company has a market cap of $23.98 billion, a P/E ratio of -17.94 and a beta of 1.13. 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 twelve month low of $7.86 and a twelve month high of $17.90. The business has a 50 day moving average price of $11.26 and a two-hundred day moving average price of $12.84.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. As a group, analysts expect that Snap will post -0.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap 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 in the company, valued at $7,449,840.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap 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 in the company, valued at $7,449,840.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Eric Young sold 120,472 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $11.13, for a total value of $1,340,853.36. Following 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 disclosure for this sale can be found here. Over the last three months, insiders sold 470,482 shares of company stock worth $5,284,091. 22.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snap

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in Snap by 1.5% in the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after purchasing an additional 1,352,655 shares during the last quarter. Jump Financial LLC boosted its position in Snap by 565.4% in the third quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock worth $2,343,000 after purchasing an additional 223,432 shares during the last quarter. Allworth Financial LP boosted its position in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new position in Snap in the third quarter worth $423,000. Finally, Korea Investment CORP lifted its position in shares of Snap by 191.7% during the 3rd quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock valued at $3,703,000 after buying an additional 273,156 shares during the last quarter. 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.