Analysts Set Snap Inc. (NYSE:SNAP) Price Target at $14.31

Snap Inc. (NYSE:SNAP) has been given a consensus rating of “Hold” by the thirty-two research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $14.31.

Several analysts have recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. JPMorgan Chase & Co. dropped their price target on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Citigroup reduced their price objective on Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Evercore ISI lifted their price objective on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Argus upgraded shares of Snap to a “hold” rating in a report on Thursday, August 8th.

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.31, for a total transaction of $221,580.00. Following the completion of the sale, the general counsel now owns 471,058 shares of the company’s stock, valued at approximately $5,798,723.98. This trade represents a 3.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the completion of the sale, the chief technology officer now directly owns 57,210,989 shares in the company, valued at $715,137,362.50. This represents a 1.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,221,220 shares of company stock valued at $14,659,201. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Hedge funds and other institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in shares of Snap in the 3rd quarter valued at approximately $29,000. Paladin Wealth LLC bought a new stake in Snap during the third quarter valued at $30,000. Advisors Asset Management Inc. increased its stake in Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of Snap in the 2nd quarter worth about $33,000. Finally, Blue Trust Inc. boosted its holdings in shares of Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares during the period. Institutional investors own 47.52% of the company’s stock.

Snap Stock Performance

SNAP opened at $10.77 on Tuesday. Snap has a 1-year low of $8.29 and a 1-year high of $17.90. The stock has a market cap of $18.06 billion, a P/E ratio of -18.55 and a beta of 0.99. The stock’s 50 day simple moving average is $10.60 and its 200 day simple moving average is $12.73. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the business posted ($0.21) earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, equities analysts anticipate that Snap will post -0.41 EPS for the current fiscal year.

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.