Snap (NYSE:SNAP) PT Raised to $12.00

Snap (NYSE:SNAP) had its price target hoisted by stock analysts at Morgan Stanley from $11.00 to $12.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the stock. Morgan Stanley’s target price indicates a potential downside of 17.53% from the stock’s previous close.

SNAP has been the subject of a number of other research reports. Susquehanna boosted their price objective on shares of Snap from $9.50 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Barclays upped their target price on shares of Snap from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group dropped their target price on shares of Snap from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Stifel Nicolaus upped their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Friday. Finally, Truist Financial upped their target price on shares of Snap from $12.00 to $16.00 and gave the stock a “hold” 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 given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.67.

Snap Trading Up 27.6 %

Shares of SNAP stock opened at $14.55 on Friday. Snap has a 1 year low of $7.86 and a 1 year high of $17.90. The firm has a fifty day moving average price of $11.26 and a 200-day moving average price of $12.86. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The company has a market cap of $24.02 billion, a price-to-earnings ratio of -17.96 and a beta of 1.13.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative net margin of 26.99% and a negative return on equity of 45.02%. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. As a group, equities analysts predict that Snap will post -0.58 earnings per share for the current year.

Insider Activity

In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the sale, the general counsel now directly owns 461,005 shares in the company, valued at approximately $7,449,840.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Derek Andersen sold 96,953 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.99, for a total value of $1,065,513.47. Following the sale, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction dated 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 directly owns 461,005 shares in the company, valued at $7,449,840.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 470,482 shares of company stock worth $5,284,091. 22.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNAP. HCR Wealth Advisors raised its position in Snap by 10.0% in the 3rd quarter. HCR Wealth Advisors now owns 23,162 shares of the company’s stock worth $206,000 after purchasing an additional 2,098 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in 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 during the period. Compass Advisory Group LLC raised 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 worth $122,000 after purchasing an additional 1,591 shares during the period. Avaii Wealth Management LLC increased its position in shares of Snap by 24.2% during the third quarter. Avaii Wealth Management LLC now owns 15,819 shares of the company’s stock worth $141,000 after acquiring an additional 3,080 shares during the period. Finally, Forsta AP Fonden increased its position in shares of 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 acquiring an additional 8,400 shares during the period. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Company Profile

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.