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

Shares of Snap Inc. (NYSE:SNAP) have been given a consensus recommendation of “Hold” by the thirty-two research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twenty-two have assigned a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $37.10.

A number of brokerages recently weighed in on SNAP. UBS Group increased their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald raised their price target on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Stifel Nicolaus reduced their price objective on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $16.00 target price on shares of Snap in a report on Wednesday, October 30th. Finally, Piper Sandler restated a “neutral” rating and set a $13.00 price target (up from $12.00) on shares of Snap in a research note on Wednesday, October 30th.

Insider Activity

In other news, CAO Rebecca Morrow sold 2,812 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $32,169.28. Following the completion of the sale, the chief accounting officer now owns 430,252 shares of the company’s stock, valued at approximately $4,922,082.88. This represents a 0.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer now owns 57,210,989 shares in the company, valued at approximately $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 quarter, insiders sold 1,451,618 shares of company stock valued at $17,560,157. Corporate insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Everence Capital Management Inc. purchased a new stake in shares of Snap during the fourth quarter valued at about $437,000. Sanctuary Advisors LLC lifted its position in Snap by 37.3% during the third quarter. Sanctuary Advisors LLC now owns 82,143 shares of the company’s stock valued at $938,000 after acquiring an additional 22,328 shares during the last quarter. Geode Capital Management LLC boosted its stake in Snap by 5.2% in the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock valued at $124,742,000 after acquiring an additional 575,324 shares in the last quarter. Groupama Asset Managment purchased a new position in Snap in the third quarter worth $13,032,000. Finally, MML Investors Services LLC increased its position in shares of 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 purchasing an additional 1,614 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Trading Up 6.5 %

Shares of NYSE SNAP opened at $11.97 on Wednesday. The company has a market cap of $20.08 billion, a PE ratio of -20.64 and a beta of 0.97. 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’s 50 day moving average price is $11.54 and its 200-day moving average price is $11.65. Snap has a 52-week low of $8.29 and a 52-week high of $17.75.

Snap (NYSE:SNAP) last posted its earnings results 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 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 analyst estimates of $1.36 billion. During the same quarter last year, the company earned ($0.21) EPS. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. On average, equities research analysts expect that Snap will post -0.4 EPS for the current fiscal year.

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.