Snap Inc. (NYSE:SNAP) Receives $37.10 Consensus Target Price from Analysts

Shares of Snap Inc. (NYSE:SNAP) have earned an average recommendation of “Hold” from the thirty-two research firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twenty-two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $37.10.

A number of equities analysts have recently issued reports on SNAP shares. The Goldman Sachs Group increased their target price on Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Piper Sandler reiterated a “neutral” rating and set a $13.00 price objective (up from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Guggenheim restated a “buy” rating and issued a $12.11 target price on shares of Snap in a research note on Tuesday, December 3rd. Loop Capital increased their target price on shares of Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, JMP Securities cut their price target on shares of Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a report on Wednesday, October 30th.

Snap Price Performance

NYSE:SNAP opened at $11.33 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The company has a fifty day moving average price of $11.35 and a 200 day moving average price of $12.09. Snap has a one year low of $8.29 and a one year high of $17.90. The stock has a market cap of $18.99 billion, a P/E ratio of -19.53 and a beta of 0.97.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the firm earned ($0.21) EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Analysts anticipate that Snap will post -0.4 earnings per share for the current year.

Insider Activity

In other Snap news, CFO Derek Andersen sold 97,608 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction of $906,778.32. Following the completion of the transaction, the chief financial officer now owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. This represents a 4.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 59,053 shares of Snap stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $548,602.37. Following the completion of the sale, the general counsel now directly owns 1,258,278 shares in the company, valued at $11,689,402.62. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,439,012 shares of company stock valued at $17,063,335 in the last quarter. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

A number of hedge funds and other institutional investors have recently bought and sold shares of SNAP. Charles Schwab Investment Management Inc. increased its stake in Snap by 62.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after buying an additional 2,386,519 shares during the last quarter. TB Alternative Assets Ltd. increased its position in shares of Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after acquiring an additional 4,098,847 shares during the last quarter. Aigen Investment Management LP bought a new stake in Snap during the third quarter worth about $1,345,000. Invenomic Capital Management LP acquired a new position in Snap during the third quarter valued at approximately $2,349,000. Finally, Dynamic Advisor Solutions LLC bought a new position in Snap in the third quarter valued at approximately $832,000. 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.