Snap Inc. (NYSE:SNAP) Receives $14.31 Average Price Target from Brokerages

Snap Inc. (NYSE:SNAP) has earned an average recommendation of “Hold” from the thirty-two brokerages that are covering the company, MarketBeat Ratings reports. One equities research 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 ratings on the stock in the last year is $14.31.

A number of equities analysts recently issued reports on SNAP shares. Loop Capital increased their target price on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Canaccord Genuity Group raised their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. Cantor Fitzgerald boosted their target price on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI raised their price target on shares of Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised Snap from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $12.00 to $16.00 in a report on Tuesday, July 23rd.

Insider Buying and Selling at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $9.30, for a total value of $167,400.00. Following the sale, the general counsel now owns 456,662 shares of the company’s stock, valued at $4,246,956.60. The trade was a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Derek Andersen sold 97,608 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the sale, the chief financial officer now owns 2,287,970 shares in the company, valued at $21,255,241.30. The trade was a 4.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,221,220 shares of company stock worth $14,659,201 over the last ninety days.

Institutional Investors Weigh In On Snap

Several large investors have recently added to or reduced their stakes in SNAP. V Square Quantitative Management LLC bought a new position in Snap in the 3rd quarter worth about $29,000. Paladin Wealth LLC purchased a new position in shares of Snap during the third quarter worth about $30,000. Advisors Asset Management Inc. increased its position in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares during the last quarter. Hollencrest Capital Management purchased a new stake in Snap in the second quarter valued at approximately $33,000. Finally, Blue Trust Inc. lifted its position in Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after purchasing an additional 1,682 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

Snap Trading Down 0.5 %

Shares of SNAP stock opened at $10.55 on Tuesday. The firm has a 50 day moving average of $10.68 and a 200-day moving average of $12.65. 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 has a 52 week low of $8.29 and a 52 week high of $17.90.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) EPS. Sell-side analysts predict that Snap will post -0.41 earnings per share for the current year.

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.