Snap (NYSE:SNAP – Get Free Report) had its price objective upped by equities research analysts at UBS Group from $12.00 to $13.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s price target indicates a potential upside of 3.42% from the company’s previous close.
A number of other research analysts also recently commented on the stock. Truist Financial dropped their target price on shares of Snap from $16.00 to $13.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Evercore ISI increased their price target on shares of Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their target price on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Susquehanna decreased their price target on Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.12.
View Our Latest Research Report on SNAP
Snap Trading Up 15.4 %
Snap (NYSE:SNAP – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. As a group, equities research analysts forecast that Snap will post -0.47 earnings per share for the current year.
Insider Transactions at Snap
In other news, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total value of $1,327,500.00. Following the completion of the sale, the chief executive officer now directly owns 3,327,844 shares in the company, valued at approximately $29,451,419.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Evan Spiegel sold 150,000 shares of Snap stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total value of $1,327,500.00. Following the completion of the transaction, the chief executive officer now directly owns 3,327,844 shares of the company’s stock, valued at approximately $29,451,419.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the transaction, the chief technology officer now directly owns 58,553,813 shares in the company, valued at $508,832,634.97. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,490,617 shares of company stock valued at $13,183,890. Insiders own 22.68% of the company’s stock.
Hedge Funds Weigh In On Snap
Several institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Snap in the 3rd quarter valued at approximately $29,000. Paladin Wealth LLC acquired a new position in shares of Snap during the third quarter valued at $30,000. Hollencrest Capital Management bought a new stake in shares of Snap during the second quarter valued at about $33,000. Blue Trust Inc. lifted its holdings in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the period. Finally, Rothschild Investment LLC bought a new position in Snap in the 2nd quarter valued at about $40,000. 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.
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