Snap Inc. (NYSE:SNAP – Get Free Report)’s stock price gapped down prior to trading on Friday after Truist Financial lowered their price target on the stock from $16.00 to $13.00. The stock had previously closed at $12.81, but opened at $10.14. Truist Financial currently has a hold rating on the stock. Snap shares last traded at $10.00, with a volume of 13,492,017 shares changing hands.
A number of other research analysts also recently issued reports on the stock. Raymond James reaffirmed an “outperform” rating and issued a $16.00 price objective (up previously from $15.00) on shares of Snap in a research report on Friday, April 26th. Canaccord Genuity Group lifted their price objective on shares of Snap from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Rosenblatt Securities boosted their target price on shares of Snap from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. Wolfe Research assumed coverage on Snap in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, The Goldman Sachs Group boosted their price objective on Snap from $13.50 to $16.00 and gave the company a “neutral” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $14.93.
Read Our Latest Analysis on Snap
Insider Buying and Selling at Snap
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the stock. NBC Securities Inc. increased its position in shares of Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after acquiring an additional 1,445 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC acquired a new stake in Snap in the 2nd quarter valued at approximately $40,000. J.Safra Asset Management Corp raised its position in Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after purchasing an additional 2,330 shares during the period. Finally, Allworth Financial LP lifted its stake in Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.
Snap Stock Performance
The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 1.55. The firm has a 50-day moving average price of $15.33 and a 200 day moving average price of $13.91. The firm has a market capitalization of $16.41 billion, a PE ratio of -12.51 and a beta of 1.03.
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.
Featured Stories
- Five stocks we like better than Snap
- What is the Dow Jones Industrial Average (DJIA)?
- Shell Stock: Oil & Gas Giant Committed to Buybacks and Dividends
- Where to Find Earnings Call Transcripts
- Chevron Stock Dips as Earnings Miss Highlights Merger Uncertainty
- Investing in large cap stocks: Diving into big caps
- DraftKings Shares Fall After EPS Beat, Lower EBITDA Guidance
Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.