Snap (NYSE:SNAP) Price Target Raised to $5.25
by Sarita Garza · The Markets DailySnap (NYSE:SNAP – Free Report) had its price objective raised by Stifel Nicolaus from $4.50 to $5.25 in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. They currently have a hold rating on the stock.
Other research analysts have also recently issued reports about the stock. Piper Sandler reissued a “neutral” rating on shares of Snap in a report on Thursday, February 5th. Citizens Jmp reissued a “market perform” rating on shares of Snap in a report on Thursday, February 5th. Canaccord Genuity Group decreased their price objective on shares of Snap from $7.00 to $6.00 and set a “hold” rating for the company in a report on Tuesday, April 14th. TD Cowen decreased their price objective on shares of Snap from $9.00 to $8.00 and set a “hold” rating for the company in a report on Thursday, February 5th. Finally, Evercore reissued a “mixed” rating on shares of Snap in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.16.
Get Our Latest Stock Analysis on SNAP
Snap Stock Down 4.7%
Shares of Snap stock opened at $5.57 on Tuesday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.56 and a current ratio of 3.56. The stock has a market capitalization of $9.40 billion, a PE ratio of -20.61 and a beta of 0.91. Snap has a 52-week low of $3.81 and a 52-week high of $10.41. The company has a 50-day simple moving average of $4.97 and a two-hundred day simple moving average of $6.71.
Snap (NYSE:SNAP – Get Free Report) last issued its earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.12). The firm had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Snap had a negative return on equity of 20.72% and a negative net margin of 7.76%.The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $0.01 earnings per share. On average, analysts anticipate that Snap will post -0.12 EPS for the current fiscal year.
Insider Activity
In other news, General Counsel Zachary M. Briers sold 134,705 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total transaction of $633,113.50. Following the completion of the transaction, the general counsel directly owned 2,854,088 shares of the company’s stock, valued at $13,414,213.60. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ajit Mohan sold 119,339 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total transaction of $560,893.30. Following the sale, the insider directly owned 5,158,477 shares of the company’s stock, valued at approximately $24,244,841.90. This represents a 2.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,565,573 shares of company stock valued at $13,329,781 over the last three months. Corporate insiders own 22.68% of the company’s stock.
Institutional Trading of Snap
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its position in shares of Snap by 92.3% in the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after purchasing an additional 1,581 shares during the period. Oak Harvest Investment Services bought a new position in shares of Snap in the fourth quarter worth approximately $26,000. Arax Advisory Partners boosted its position in shares of Snap by 220.0% in the fourth quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock worth $27,000 after purchasing an additional 2,275 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Snap in the fourth quarter worth approximately $29,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Snap by 561.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after purchasing an additional 3,071 shares during the period. 47.52% of the stock is owned by hedge funds and other institutional investors.
About Snap
Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.
Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.