Snap (NYSE:SNAP) Given New $14.00 Price Target at TD Cowen

Snap (NYSE:SNAP) had its target price hoisted by equities research analysts at TD Cowen from $11.00 to $14.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective would suggest a potential downside of 4.11% from the stock’s previous close.

SNAP has been the topic of a number of other reports. Susquehanna increased their price target on shares of Snap from $9.50 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Piper Sandler raised their target price on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. The Goldman Sachs Group raised their target price on shares of Snap from $13.50 to $16.00 and gave the stock a “neutral” rating in a report on Friday. Canaccord Genuity Group raised their target price on shares of Snap from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday. Finally, Royal Bank of Canada raised their target price on shares of Snap from $13.00 to $16.00 and gave the stock a “sector perform” rating in a report on Friday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.67.

Snap Price Performance

SNAP traded up $3.20 on Friday, reaching $14.60. The company had a trading volume of 109,326,296 shares, compared to its average volume of 31,199,594. The business has a 50 day simple moving average of $11.19 and a 200 day simple moving average of $12.79. The company has a market cap of $24.10 billion, a price-to-earnings ratio of -17.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. Snap has a 52-week low of $7.86 and a 52-week high of $17.90.

Snap (NYSE:SNAP) last announced 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 for the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. As a group, sell-side analysts anticipate that Snap will post -0.58 EPS for the current year.

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the transaction, the general counsel now owns 474,812 shares of the company’s stock, valued at approximately $5,474,582.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now directly owns 474,812 shares in the company, valued at approximately $5,474,582.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Derek Andersen sold 96,953 shares of Snap stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the sale, the chief financial officer now owns 2,534,689 shares of the company’s stock, valued at $27,856,232.11. The disclosure for this sale can be found here. Insiders sold a total of 470,482 shares of company stock valued at $5,284,091 in the last quarter. 22.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Snap

Several large investors have recently bought and sold shares of SNAP. NBC Securities Inc. grew its stake in shares of Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after purchasing an additional 1,445 shares during the period. Allworth Financial LP grew its stake in shares of Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares during the period. ICA Group Wealth Management LLC bought a new stake in shares of Snap during the 4th quarter valued at about $51,000. Rakuten Securities Inc. bought a new stake in shares of Snap during the 4th quarter valued at about $73,000. Finally, Westpac Banking Corp grew its stake in shares of Snap by 108.7% during the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after purchasing an additional 2,506 shares during the period. 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.