Snap (NYSE:SNAP) PT Raised to $14.00 at Rosenblatt Securities

Snap (NYSE:SNAP) had its price target hoisted by research analysts at Rosenblatt Securities from $12.00 to $14.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Rosenblatt Securities’ target price indicates a potential upside of 22.81% from the stock’s previous close.

A number of other research firms also recently weighed in on SNAP. HSBC raised shares of Snap from a “reduce” rating to a “buy” rating in a research note on Friday. Morgan Stanley dropped their price target on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 7th. Truist Financial upped their price target on shares of Snap from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft raised shares of Snap from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. Finally, Susquehanna increased their target price on shares of Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus target price of $13.95.

Snap Price Performance

Shares of NYSE:SNAP opened at $11.40 on Friday. The company’s fifty day moving average is $11.19 and its two-hundred day moving average is $12.79. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap has a 12-month low of $7.86 and a 12-month high of $17.90. The company has a market cap of $18.82 billion, a P/E ratio of -13.73 and a beta of 1.13.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. Equities analysts expect that Snap will post -0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the transaction, the general counsel now owns 461,005 shares in the company, valued at $7,449,840.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s 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 sale, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the sale, the general counsel now directly owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. Insiders sold a total of 470,482 shares of company stock worth $5,284,091 over the last quarter. Company insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings 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 purchasing an additional 3,503,230 shares in the last quarter. SRS Investment Management LLC increased its holdings 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 purchasing an additional 12,452,415 shares in the last quarter. Capital World Investors increased its holdings 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 purchasing an additional 274,176 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in Snap by 4.1% in the third quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock valued at $73,666,000 after acquiring an additional 327,038 shares during the last quarter. Finally, Carmignac Gestion bought a new position in Snap in the fourth quarter valued at approximately $110,103,000. Institutional investors and hedge funds 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.