Snap (NYSE:SNAP) Price Target Increased to $15.00 by Analysts at Canaccord Genuity Group

Snap (NYSE:SNAP) had its price objective boosted by Canaccord Genuity Group from $14.00 to $15.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada reduced their price objective on Snap from $17.00 to $13.00 and set a sector perform rating for the company in a report on Wednesday, February 7th. Piper Sandler upped their price objective on Snap from $12.00 to $17.00 and gave the company a neutral rating in a report on Wednesday, January 17th. Stifel Nicolaus dropped their target price on Snap from $14.00 to $12.00 and set a hold rating for the company in a report on Tuesday, April 16th. The Goldman Sachs Group lowered their price target on shares of Snap from $15.00 to $13.50 and set a neutral rating on the stock in a research report on Thursday, February 8th. Finally, Roth Mkm reissued a neutral rating and issued a $14.00 price objective on shares of Snap in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Hold and an average price target of $14.67.

Snap Stock Performance

Shares of SNAP stock opened at $14.53 on Friday. The stock has a market cap of $23.98 billion, a P/E ratio of -17.94 and a beta of 1.13. The company has a fifty day moving average price of $11.26 and a two-hundred day moving average price of $12.84. Snap has a one year low of $7.86 and a one year high of $17.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39.

Snap (NYSE:SNAP) last posted 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. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. As a group, equities analysts predict that Snap will post -0.58 EPS for the current year.

Insider Buying and Selling

In other Snap news, CFO Derek Andersen sold 96,953 shares of the company’s 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 sale, the chief financial officer now owns 2,534,689 shares of the company’s stock, valued at $27,856,232.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Eric Young sold 120,472 shares of the business’s 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 in the company, valued at approximately $39,409,682.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Derek Andersen sold 96,953 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the transaction, the chief financial officer now directly owns 2,534,689 shares in the company, valued at $27,856,232.11. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock valued at $5,284,091 over the last quarter. Insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Several large investors have recently made changes to their positions in the company. NBC Securities Inc. lifted its holdings in shares of Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after purchasing an additional 1,445 shares in the last quarter. Allworth Financial LP grew its holdings in Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after buying an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Snap in the fourth quarter valued at about $51,000. Rakuten Securities Inc. purchased a new position in Snap during the fourth quarter worth about $73,000. Finally, Westpac Banking Corp increased its stake in Snap by 108.7% in the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after buying an additional 2,506 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.