Stifel Nicolaus Trims Snap (NYSE:SNAP) Target Price to $12.00

Snap (NYSE:SNAP) had its target price dropped by stock analysts at Stifel Nicolaus from $14.00 to $12.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 16.11% from the company’s current price.

Other analysts have also recently issued reports about the stock. Truist Financial upped their target price on shares of Snap from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, February 7th. Morgan Stanley reduced their target price on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, February 7th. Wells Fargo & Company dropped their price target on shares of Snap from $22.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Snap from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. Finally, Rosenblatt Securities upped their price target on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.61.

Snap Stock Down 4.7 %

SNAP opened at $10.34 on Tuesday. 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 $11.35 and a 200-day moving average price of $12.72. Snap has a twelve month low of $7.86 and a twelve month high of $17.90. The stock has a market capitalization of $17.06 billion, a price-to-earnings ratio of -12.45 and a beta of 1.13.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Equities research analysts forecast that Snap will post -0.58 earnings per share for the current year.

Insider Buying and Selling at Snap

In other Snap news, SVP Eric Young sold 120,472 shares of the stock in a transaction on 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 transaction, the senior vice president now owns 3,540,852 shares in the company, valued at $39,409,682.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Snap news, CFO Derek Andersen sold 96,953 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the completion of the transaction, the chief financial officer now owns 2,534,689 shares in the company, valued at $27,856,232.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Young sold 120,472 shares of the stock in a transaction on 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 transaction, 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. Insiders sold 470,054 shares of company stock worth $5,279,729 over the last 90 days.

Institutional Investors Weigh In On Snap

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of 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 period. SRS Investment Management LLC raised its stake in shares of Snap by 23.6% in the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after acquiring an additional 12,452,415 shares during the period. Capital World Investors raised its stake in shares of Snap by 0.6% in the fourth quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock valued at $776,868,000 after acquiring an additional 274,176 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Snap by 28.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,959,640 shares of the company’s stock valued at $320,988,000 after acquiring an additional 4,243,620 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Snap by 95.8% in the first quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock valued at $641,028,000 after acquiring an additional 8,712,380 shares during the period. Hedge funds and other 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.