Snap Inc. (NYSE:SNAP) Receives $14.79 Average Price Target from Brokerages

Snap Inc. (NYSE:SNAP) has been given a consensus recommendation of “Hold” by the twenty-six brokerages that are covering the firm, Marketbeat Ratings reports. Two investment 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. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $14.79.

SNAP has been the subject of several recent analyst reports. Raymond James restated an “outperform” rating and set a $16.00 target price (up from $15.00) on shares of Snap in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Snap from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.00 to $19.00 in a research note on Friday, January 26th. UBS Group lowered their price objective on shares of Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 16th. Canaccord Genuity Group lifted their target price on shares of Snap from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, HSBC raised shares of Snap from a “reduce” rating to a “buy” rating in a research note on Friday, April 26th.

Snap Stock Performance

SNAP opened at $15.19 on Tuesday. Snap has a 1-year low of $8.28 and a 1-year high of $17.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76. The stock’s 50 day simple moving average is $13.06 and its 200 day simple moving average is $13.69. The stock has a market cap of $24.93 billion, a P/E ratio of -18.75 and a beta of 1.02.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. As a group, equities analysts anticipate that Snap will post -0.44 EPS for the current fiscal year.

Insider Activity at Snap

In other Snap news, SVP Eric Young sold 115,915 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $15.91, for a total value of $1,844,207.65. Following the transaction, the senior vice president now directly owns 3,292,657 shares in the company, valued at $52,386,172.87. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Eric Young sold 115,915 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $15.91, for a total transaction of $1,844,207.65. Following the transaction, the senior vice president now directly owns 3,292,657 shares in the company, valued at $52,386,172.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. O’sullivan sold 59,641 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.00, for a total transaction of $656,051.00. Following the completion of the transaction, the general counsel now owns 1,267,193 shares in the company, valued at $13,939,123. The disclosure for this sale can be found here. Insiders have sold a total of 1,509,829 shares of company stock valued at $21,263,829 over the last quarter. 22.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. SRS Investment Management LLC raised its holdings in shares of Snap by 23.6% during the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after acquiring an additional 12,452,415 shares during the period. Carmignac Gestion bought a new stake in Snap in the 4th quarter valued at about $110,103,000. Contrarius Investment Management Ltd bought a new stake in Snap in the 4th quarter valued at about $80,644,000. Vanguard Group Inc. raised its position in shares of Snap by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after buying an additional 3,503,230 shares in the last quarter. Finally, TB Alternative Assets Ltd. raised its position in shares of Snap by 144.5% in the 1st quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock valued at $58,488,000 after buying an additional 3,011,400 shares in the last quarter. 47.52% of the stock is owned by 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.