Truist Financial Increases Snap (NYSE:SNAP) Price Target to $16.00

Snap (NYSE:SNAP) had its target price upped by Truist Financial from $12.00 to $16.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other research firms have also recently issued reports on SNAP. Susquehanna increased their target price on Snap from $9.50 to $12.00 and gave the stock a neutral rating in a report on Wednesday, February 7th. Canaccord Genuity Group raised their target price on shares of Snap from $14.00 to $15.00 and gave the company a hold rating in a research report on Friday. Morgan Stanley lowered their target price on Snap from $13.00 to $11.00 and set an underweight rating on the stock in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft raised Snap from a hold rating to a buy rating and boosted their price target for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. Finally, BMO Capital Markets cut their price objective on Snap from $22.00 to $20.00 and set an outperform rating for the company in a report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Snap currently has a consensus rating of Hold and a consensus target price of $14.79.

Snap Trading Down 0.4 %

NYSE:SNAP opened at $14.49 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The business’s 50-day simple moving average is $11.33 and its 200-day simple moving average is $12.93. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The stock has a market capitalization of $23.92 billion, a PE ratio of -17.89 and a beta of 1.13.

Snap (NYSE:SNAP) last announced its quarterly 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 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%. Sell-side analysts expect that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, CEO Evan Spiegel sold 150,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the transaction, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Evan Spiegel sold 150,000 shares of the company’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 transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the transaction, the general counsel now directly owns 474,812 shares in the company, valued at $5,474,582.36. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock valued at $5,284,091 in the last quarter. Company insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Snap by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after acquiring an additional 3,503,230 shares during the last quarter. SRS Investment Management LLC boosted its stake in shares of Snap by 23.6% in 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 purchasing an additional 12,452,415 shares in the last quarter. Capital World Investors grew its holdings in shares of Snap by 0.6% during the 4th quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock valued at $776,868,000 after purchasing an additional 274,176 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Snap by 4.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock worth $73,666,000 after purchasing an additional 327,038 shares in the last quarter. Finally, Carmignac Gestion acquired a new position in Snap during the 4th quarter worth approximately $110,103,000. 47.52% of the stock is currently owned by institutional investors.

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.