Snap (NYSE:SNAP) Price Target Increased to $16.00 by Analysts at The Goldman Sachs Group

Snap (NYSE:SNAP) had its price objective raised by The Goldman Sachs Group from $13.50 to $16.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms have also weighed in on SNAP. Evercore ISI lifted their price objective on shares of Snap from $13.00 to $14.00 and gave the company an in-line rating in a research report on Friday. Roth Mkm reiterated a neutral rating and issued a $14.00 price objective on shares of Snap in a research report on Tuesday. Benchmark reiterated a hold rating on shares of Snap in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Snap from a hold rating to a buy rating and lifted their price objective for the company from $10.00 to $19.00 in a research report on Friday, January 26th. Finally, Piper Sandler lifted their price objective on shares of Snap from $12.00 to $17.00 and gave the company a neutral rating in a research report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $14.67.

Snap Stock Performance

Shares of Snap stock opened at $14.53 on Friday. The firm’s fifty day simple moving average is $11.26 and its 200-day simple moving average is $12.84. The stock has a market capitalization of $23.98 billion, a price-to-earnings ratio of -17.94 and a beta of 1.13. Snap has a 12 month low of $7.86 and a 12 month 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 announced its earnings results on Thursday, April 25th. The company reported ($0.14) EPS 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 analysts’ expectations of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 45.02%. As a group, equities analysts forecast that Snap will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $11.11, for a total value of $1,666,500.00. Following the sale, the chief executive officer now directly owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the transaction, the general counsel now owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the completion of the transaction, the chief executive officer now directly owns 3,627,844 shares of the company’s stock, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock worth $5,284,091 in the last three months. Corporate insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Snap by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock valued at $818,067,000 after purchasing an additional 1,352,655 shares during the last quarter. Jump Financial LLC raised its stake in Snap by 565.4% in the 3rd quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock valued at $2,343,000 after purchasing an additional 223,432 shares during the last quarter. Allworth Financial LP raised its stake in Snap by 161.6% in 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 last quarter. Illinois Municipal Retirement Fund acquired a new position in Snap in the 3rd quarter valued at about $423,000. Finally, Korea Investment CORP increased its stake in shares of Snap by 191.7% during the 3rd quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock valued at $3,703,000 after acquiring an additional 273,156 shares during the last quarter. 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.