Snap (NYSE:SNAP) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Snap (NYSE:SNAP) had its price target raised by research analysts at Wells Fargo & Company from $14.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 22.65% from the stock’s previous close.

SNAP has been the subject of a number of other research reports. Roth Mkm reaffirmed a “neutral” rating and set a $14.00 target price on shares of Snap in a research note on Wednesday, September 18th. Evercore ISI lifted their price objective on Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 target price on shares of Snap in a research note on Wednesday, October 30th. B. Riley lifted their price target on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their price target on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $37.13.

Snap Trading Down 1.9 %

Shares of NYSE:SNAP traded down $0.24 on Monday, reaching $12.23. 6,467,826 shares of the company traded hands, compared to its average volume of 25,936,488. The stock has a market capitalization of $20.51 billion, a P/E ratio of -21.09 and a beta of 0.98. The business’s 50-day simple moving average is $11.59 and its 200 day simple moving average is $11.47. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap has a 52 week low of $8.29 and a 52 week high of $17.50.

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

Insider Buying and Selling at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the transaction, the chief technology officer now owns 57,210,989 shares in the company, valued at $715,137,362.50. The trade was a 1.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rebecca Morrow sold 32,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $12.42, for a total transaction of $397,440.00. Following the completion of the transaction, the chief accounting officer now owns 433,064 shares of the company’s stock, valued at $5,378,654.88. This represents a 6.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,451,618 shares of company stock valued at $17,560,157. Company insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Several hedge funds and other institutional investors have recently made changes to their positions in SNAP. Metis Global Partners LLC grew its position in Snap by 6.9% during the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock worth $207,000 after purchasing an additional 1,255 shares during the period. Intech Investment Management LLC lifted its holdings in Snap by 1.9% in the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company’s stock valued at $830,000 after purchasing an additional 1,433 shares in the last quarter. MML Investors Services LLC boosted its stake in Snap by 6.8% during the third quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock worth $270,000 after buying an additional 1,614 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after acquiring an additional 1,632 shares during the last quarter. Finally, TRUE Private Wealth Advisors boosted its position in shares of Snap by 3.5% during the 3rd quarter. TRUE Private Wealth Advisors now owns 51,941 shares of the company’s stock valued at $556,000 after acquiring an additional 1,749 shares during the last quarter. Hedge funds and other institutional investors 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.