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

Snap (NYSE:SNAP) had its target price raised by Wells Fargo & Company from $14.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 32.28% from the company’s current price.

Other analysts also recently issued reports about the company. The Goldman Sachs Group boosted their price target on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Benchmark restated a “hold” rating on shares of Snap in a research note on Friday, October 25th. UBS Group raised their price target on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Guggenheim reissued a “buy” rating and issued a $12.11 price objective on shares of Snap in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 target price on shares of Snap in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Snap presently has a consensus rating of “Hold” and a consensus price target of $37.13.

Snap Stock Performance

NYSE SNAP opened at $11.34 on Monday. The stock has a market cap of $19.02 billion, a PE ratio of -19.55 and a beta of 0.98. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a 50-day moving average of $11.57 and a 200-day moving average of $11.40. Snap has a 52-week low of $8.29 and a 52-week high of $17.50.

Snap (NYSE:SNAP) last issued its quarterly earnings data 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. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm 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 business posted ($0.21) earnings per share. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Snap will post -0.4 EPS for the current year.

Insider Buying and Selling at Snap

In other news, SVP Eric Young sold 112,020 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00. Following the sale, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at approximately $29,445,556.40. This represents a 3.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Joanna Coles sold 6,434 shares of Snap stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $12.00, for a total transaction of $77,208.00. Following the transaction, the director now directly owns 54,761 shares of the company’s stock, valued at $657,132. This represents a 10.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,451,618 shares of company stock worth $17,560,157 over the last quarter. Corporate insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

A number of large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 2,386,519 shares during the period. TB Alternative Assets Ltd. increased its holdings in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after purchasing an additional 4,098,847 shares in the last quarter. Aigen Investment Management LP bought a new stake in Snap in the third quarter worth approximately $1,345,000. Invenomic Capital Management LP acquired a new position in Snap in the third quarter valued at approximately $2,349,000. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of Snap during the 3rd quarter worth approximately $832,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.