Snap (NYSE:SNAP) PT Raised to $13.00

Snap (NYSE:SNAP) had its price objective lifted by Stifel Nicolaus from $12.00 to $13.00 in a research report released on Friday, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other brokerages have also recently commented on SNAP. Truist Financial increased their price target on Snap from $12.00 to $16.00 and gave the company a hold rating in a research note on Friday. Wells Fargo & Company dropped their target price on Snap from $22.00 to $16.00 and set an overweight rating for the company in a research report on Wednesday, February 7th. Rosenblatt Securities boosted their price target on Snap from $12.00 to $14.00 and gave the stock a neutral rating in a report on Friday. Barclays raised their price objective on shares of Snap from $15.00 to $17.00 and gave the company an overweight rating in a report on Friday. Finally, HSBC raised shares of Snap from a reduce rating to a buy rating in a report on Friday. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Snap has a consensus rating of Hold and an average target price of $14.79.

Snap Stock Performance

Snap stock opened at $14.49 on Friday. 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 stock has a market cap of $23.92 billion, a PE ratio of -17.89 and a beta of 1.13. Snap has a 12-month low of $7.86 and a 12-month high of $17.90. The business’s 50-day moving average price is $11.33 and its two-hundred day moving average price is $12.93.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates 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, analysts expect that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now directly owns 461,005 shares in the company, valued at $7,449,840.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction 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 completion of the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock worth $5,284,091 in the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several institutional investors have recently made changes to their positions in SNAP. HCR Wealth Advisors grew its stake in Snap by 10.0% in the third quarter. HCR Wealth Advisors now owns 23,162 shares of the company’s stock valued at $206,000 after acquiring an additional 2,098 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Snap by 7.6% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 191,542 shares of the company’s stock worth $1,707,000 after purchasing an additional 13,500 shares in the last quarter. Compass Advisory Group LLC grew its position in Snap by 13.2% in the 3rd quarter. Compass Advisory Group LLC now owns 13,678 shares of the company’s stock valued at $122,000 after purchasing an additional 1,591 shares during the period. Avaii Wealth Management LLC increased its stake in Snap by 24.2% during the 3rd quarter. Avaii Wealth Management LLC now owns 15,819 shares of the company’s stock valued at $141,000 after purchasing an additional 3,080 shares in the last quarter. Finally, Forsta AP Fonden raised its holdings in Snap by 3.6% during the third quarter. Forsta AP Fonden now owns 238,700 shares of the company’s stock worth $2,127,000 after buying an additional 8,400 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.