Snap (NYSE:SNAP) PT Raised to $15.00 at Susquehanna

Snap (NYSE:SNAP) had its target price boosted by stock analysts at Susquehanna from $12.00 to $15.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Susquehanna’s price target points to a potential downside of 0.40% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company raised their price target on Snap from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. The Goldman Sachs Group boosted their price target on Snap from $13.50 to $16.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. UBS Group reduced their price objective on Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. Stifel Nicolaus boosted their target price on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Finally, TD Cowen raised their price target on shares of Snap from $11.00 to $14.00 and gave the company a “hold” rating in a research note on Friday, April 26th. 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 company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.79.

Snap Price Performance

NYSE:SNAP opened at $15.06 on Monday. Snap has a 52 week low of $7.86 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The firm’s 50-day simple moving average is $11.41 and its 200 day simple moving average is $12.97. The firm has a market cap of $24.86 billion, a price-to-earnings ratio of -18.59 and a beta of 1.13.

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

Insider Buying and Selling

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now owns 474,812 shares in the company, valued at approximately $5,474,582.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the transaction, the general counsel now owns 474,812 shares of the company’s stock, valued at approximately $5,474,582.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Derek Andersen sold 96,953 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at $27,856,232.11. The disclosure for this sale can be found here. Insiders sold 457,482 shares of company stock valued at $5,074,011 over the last 90 days.

Institutional Trading of Snap

Hedge funds and other institutional investors have recently bought and sold shares of the business. NBC Securities Inc. boosted its position in shares of Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after buying an additional 1,445 shares during the last quarter. Allworth Financial LP boosted 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 acquiring an additional 1,708 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Snap in the 4th quarter worth $51,000. Rakuten Securities Inc. purchased a new stake in shares of Snap in the fourth quarter valued at about $73,000. Finally, Westpac Banking Corp lifted its position in shares of Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after purchasing an additional 2,506 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

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.