Snap Inc. (NYSE:SNAP) Receives $8.17 Consensus Target Price from Analysts

Shares of Snap Inc. (NYSE:SNAP) have been assigned an average rating of “Hold” from the twenty-nine research firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $8.0096.

A number of research firms recently weighed in on SNAP. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $8.00 price target on shares of Snap in a report on Thursday, February 5th. Piper Sandler reaffirmed a “neutral” rating on shares of Snap in a report on Thursday, February 5th. Guggenheim reaffirmed a “neutral” rating and set a $6.50 price target on shares of Snap in a report on Thursday, April 16th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $6.40 price target on shares of Snap in a report on Thursday, April 16th. Finally, B. Riley Financial raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Thursday, February 5th.

Snap Trading Up 1.3%

SNAP stock opened at $5.65 on Tuesday. The business has a fifty day moving average price of $4.98 and a 200 day moving average price of $6.68. Snap has a fifty-two week low of $3.81 and a fifty-two week high of $10.41. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of -20.91 and a beta of 0.91. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56.

Snap (NYSE:SNAP) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the business earned $0.01 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts expect that Snap will post -0.12 EPS for the current fiscal year.

Insider Transactions at Snap

In other Snap news, insider Ajit Mohan sold 119,339 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total value of $560,893.30. Following the transaction, the insider directly owned 5,158,477 shares in the company, valued at approximately $24,244,841.90. This trade represents a 2.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Zachary M. Briers sold 134,705 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total value of $633,113.50. Following the completion of the transaction, the general counsel owned 2,854,088 shares in the company, valued at $13,414,213.60. The trade was a 4.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 2,565,573 shares of company stock worth $13,329,781. Corporate insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP boosted its position in Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after buying an additional 1,581 shares during the last quarter. Oak Harvest Investment Services bought a new position in Snap in the 4th quarter valued at $26,000. Arax Advisory Partners boosted its position in Snap by 220.0% in the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock valued at $27,000 after buying an additional 2,275 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Snap in the 4th quarter valued at $29,000. Finally, EverSource Wealth Advisors LLC boosted its position in Snap by 561.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock valued at $29,000 after buying an additional 3,071 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap Company Profile

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.