Snap (NYSE:SNAP) Price Target Raised to $15.00

Snap (NYSE:SNAP) had its price target increased by investment analysts at Canaccord Genuity Group from $14.00 to $15.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 3.09% from the stock’s current price.

SNAP has been the topic of a number of other reports. The Goldman Sachs Group cut their target price on Snap from $15.00 to $13.50 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. HSBC upgraded Snap from a “reduce” rating to a “buy” rating in a report on Friday. Truist Financial lifted their price target on Snap from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, February 7th. Susquehanna lifted their price target on Snap from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, February 7th. Finally, Rosenblatt Securities lifted their price target on Snap from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.67.

Snap Stock Up 27.6 %

Shares of Snap stock opened at $14.55 on Friday. The stock’s fifty day moving average is $11.26 and its 200-day moving average is $12.86. The firm has a market capitalization of $24.02 billion, a PE ratio of -17.96 and a beta of 1.13. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap has a 12-month low of $7.86 and a 12-month high of $17.90.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 45.02% and a negative net margin of 26.99%. Equities analysts anticipate that Snap will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Snap news, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of 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 available through this link. In other Snap news, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of 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 available through this link. Also, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $11.11, for a total value of $1,666,500.00. Following 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 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.

Hedge Funds Weigh In On Snap

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Snap by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after purchasing an additional 1,352,655 shares during the last quarter. Jump Financial LLC raised its holdings 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 acquiring an additional 223,432 shares in the last quarter. Allworth Financial LP raised its holdings 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 acquiring an additional 1,708 shares in the last quarter. Illinois Municipal Retirement Fund acquired a new position in Snap in the 3rd quarter valued at approximately $423,000. Finally, Korea Investment CORP raised its holdings in Snap by 191.7% in 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 in 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.