Snap (NYSE:SNAP) PT Raised to $14.00

Snap (NYSE:SNAP) had its price objective hoisted by TD Cowen from $11.00 to $14.00 in a research report report published on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also issued research reports about the company. Morgan Stanley boosted their price objective on Snap from $11.00 to $12.00 and gave the stock an underweight rating in a report on Friday. Wells Fargo & Company boosted their price objective on Snap from $16.00 to $18.00 and gave the stock an overweight rating in a report on Friday. UBS Group cut their price objective on Snap from $14.00 to $13.00 and set a neutral rating for the company in a report on Tuesday, April 16th. Barclays boosted their price objective on Snap from $15.00 to $17.00 and gave the stock an overweight rating in a report on Friday. Finally, Roth Mkm reissued a neutral rating and set a $14.00 price objective on shares of Snap in a report on Tuesday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $14.67.

Snap Stock Up 27.5 %

SNAP stock 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 market capitalization of $23.98 billion, a PE ratio of -17.94 and a beta of 1.13. Snap has a twelve month low of $7.86 and a twelve month high of $17.90. The stock has a 50-day simple moving average of $11.26 and a two-hundred day simple moving average of $12.84.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating 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 45.02% and a negative net margin of 26.99%. On average, equities analysts predict that Snap will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 2,442 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares in the company, valued at $5,423,924. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snap news, CAO Rebecca Morrow sold 2,442 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares in the company, valued at $5,423,924. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $11.11, for a total value of $1,666,500.00. Following the completion of the sale, the chief executive officer now owns 3,627,844 shares of the company’s stock, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 470,482 shares of company stock worth $5,284,091. 22.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snap

Hedge funds and other institutional investors have recently made changes to their positions in the business. NBC Securities Inc. raised its holdings in shares of Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after acquiring an additional 1,445 shares in the last quarter. Allworth Financial LP raised 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 valued at $47,000 after acquiring an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Snap during the fourth quarter valued at approximately $51,000. Rakuten Securities Inc. bought a new position in shares of Snap during the fourth quarter valued at approximately $73,000. Finally, Westpac Banking Corp raised its holdings in shares of Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after acquiring an additional 2,506 shares in the last quarter. 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.