Snap Inc. (NYSE:SNAP) Receives $36.87 Consensus PT from Analysts

Shares of Snap Inc. (NYSE:SNAP) have been assigned an average recommendation of “Hold” from the thirty-three research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, twenty-five have issued a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $36.87.

Several equities research analysts recently commented on the stock. Susquehanna boosted 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, February 5th. Bank of America lifted their price target on Snap from $14.00 to $14.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. BMO Capital Markets reissued an “outperform” rating and issued a $16.00 price target (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Needham & Company LLC reissued a “buy” rating and issued a $640.00 price target on shares of Snap in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. dropped their price target on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 5th.

Insider Buying and Selling

In other news, CFO Derek Andersen sold 33,618 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $8.83, for a total transaction of $296,846.94. Following the completion of the sale, the chief financial officer now owns 3,507,897 shares in the company, valued at $30,974,730.51. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $11.49, for a total value of $206,820.00. Following the sale, the general counsel now owns 480,498 shares of the company’s stock, valued at approximately $5,520,922.02. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,350,523 shares of company stock worth $12,698,797. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently made changes to their positions in SNAP. Capital International Investors bought a new stake in shares of Snap during the fourth quarter worth approximately $422,049,000. Capital World Investors raised its position in shares of Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after buying an additional 23,569,522 shares in the last quarter. Norges Bank acquired a new stake in shares of Snap in the fourth quarter valued at approximately $30,162,000. Renaissance Technologies LLC acquired a new stake in shares of Snap in the fourth quarter valued at approximately $27,713,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Snap by 62.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after buying an additional 2,386,519 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Stock Performance

Shares of NYSE:SNAP opened at $9.33 on Monday. The company has a market capitalization of $15.83 billion, a price-to-earnings ratio of -22.22 and a beta of 0.92. The firm’s 50 day simple moving average is $10.38 and its 200 day simple moving average is $10.77. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, sell-side analysts forecast that Snap will post -0.3 earnings per share for the current 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.