Susquehanna Boosts Snap (NYSE:SNAP) Price Target to $15.00

Snap (NYSE:SNAP) had its price objective raised by Susquehanna from $12.00 to $15.00 in a research note released on Monday, Benzinga reports. They currently have a neutral rating on the stock.

Other research analysts also recently issued research reports about the company. Piper Sandler boosted their target price on Snap from $12.00 to $17.00 and gave the company a neutral rating in a research note on Wednesday, January 17th. UBS Group lowered their target price on Snap from $14.00 to $13.00 and set a neutral rating on the stock in a research note on Tuesday, April 16th. Truist Financial boosted their price target on Snap from $12.00 to $16.00 and gave the stock a hold rating in a research report on Friday, April 26th. Evercore ISI boosted their price target on Snap from $13.00 to $14.00 and gave the stock an in-line rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada boosted their price target on Snap from $13.00 to $16.00 and gave the stock a sector perform rating in a research report on Friday, April 26th. Two equities 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’s stock. According to MarketBeat, Snap has an average rating of Hold and an average price target of $14.79.

Snap Stock Performance

Shares of NYSE SNAP opened at $15.85 on Monday. The business’s 50-day moving average price is $11.51 and its two-hundred day moving average price is $12.99. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 4.39. Snap has a one year low of $7.86 and a one year high of $17.90. The company has a market capitalization of $26.16 billion, a P/E ratio of -19.57 and a beta of 1.13.

Snap (NYSE:SNAP) last issued 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. Snap had a negative return on equity of 46.62% and a negative net margin of 26.99%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. Analysts anticipate that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snap news, SVP Eric Young sold 120,472 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the transaction, the senior vice president now owns 3,540,852 shares of the company’s stock, valued at approximately $39,409,682.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Snap news, SVP Eric Young sold 120,472 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the transaction, the senior vice president now owns 3,540,852 shares of the company’s stock, valued at approximately $39,409,682.76. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 2,442 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the transaction, the chief accounting officer now directly owns 493,084 shares of the company’s stock, valued at approximately $5,423,924. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,607,482 shares of company stock valued at $21,496,511.

Institutional Investors Weigh In On Snap

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

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.