Susquehanna Forecasts Strong Price Appreciation for Snap (NYSE:SNAP) Stock

Snap (NYSE:SNAP) had its price objective upped by Susquehanna from $12.00 to $13.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

SNAP has been the subject of several other reports. Truist Financial lifted their price objective on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Stifel Nicolaus decreased their price objective on shares of Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Canaccord Genuity Group boosted 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. Benchmark reissued a “hold” rating on shares of Snap in a research report on Friday, October 25th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $16.00 price target (down from $18.00) on shares of Snap in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Snap has an average rating of “Hold” and a consensus price target of $36.87.

Snap Stock Performance

NYSE:SNAP opened at $10.91 on Wednesday. The company has a market cap of $18.29 billion, a price-to-earnings ratio of -18.80 and a beta of 0.99. The company has a fifty day simple moving average of $11.49 and a two-hundred day simple moving average of $10.89. Snap has a 52 week low of $8.29 and a 52 week high of $17.33. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. As a group, equities analysts anticipate that Snap will post -0.39 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other news, CAO Rebecca Morrow sold 11,154 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $117,674.70. Following the transaction, the chief accounting officer now directly owns 465,064 shares in the company, valued at $4,906,425.20. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.54, for a total transaction of $129,800.10. Following the transaction, the general counsel now owns 1,195,567 shares in the company, valued at $12,601,276.18. The trade was a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 445,184 shares of company stock worth $4,968,189 over the last ninety days. 22.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Citizens Financial Group Inc. RI grew its position in Snap by 182.5% during the fourth quarter. Citizens Financial Group Inc. RI now owns 30,602 shares of the company’s stock worth $330,000 after buying an additional 19,769 shares during the period. Independent Advisor Alliance grew its position in Snap by 19.4% during the fourth quarter. Independent Advisor Alliance now owns 20,105 shares of the company’s stock worth $217,000 after buying an additional 3,267 shares during the period. Inceptionr LLC acquired a new position in Snap during the fourth quarter worth about $145,000. Raymond James Financial Inc. acquired a new position in Snap during the fourth quarter worth about $3,291,000. Finally, Arizona State Retirement System grew its position in Snap by 2.7% during the fourth quarter. Arizona State Retirement System now owns 306,137 shares of the company’s stock worth $3,297,000 after buying an additional 8,133 shares during the period. 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.