Snap (NYSE:SNAP) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Snap (NYSE:SNAP) had its price objective raised by The Goldman Sachs Group from $12.00 to $13.50 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research firms also recently issued reports on SNAP. Canaccord Genuity Group boosted their target price on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $14.00 target price on shares of Snap in a report on Wednesday, September 18th. HSBC downgraded shares of Snap from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Cantor Fitzgerald lifted their price target on shares of Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, B. Riley lifted their price target on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.25.

Snap Stock Performance

Shares of NYSE SNAP opened at $12.53 on Wednesday. Snap has a 12 month low of $8.29 and a 12 month high of $17.90. The company has a 50-day simple moving average of $10.18 and a 200-day simple moving average of $12.72. The company has a market cap of $20.79 billion, a PE ratio of -21.60 and a beta of 0.99. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm earned ($0.21) earnings per share. Snap’s revenue was up 15.4% compared to the same quarter last year. On average, equities analysts anticipate that Snap will post -0.47 earnings per share for the current year.

Insider Activity at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the sale, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Snap news, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total transaction of $1,327,500.00. Following the completion of the sale, the chief executive officer now owns 3,327,844 shares in the company, valued at $29,451,419.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the sale, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,497,051 shares of company stock valued at $13,261,098 over the last ninety days. Corporate insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Institutional investors have recently added to or reduced their stakes in the business. TB Alternative Assets Ltd. increased its stake in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after purchasing an additional 4,098,847 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new position in shares of Snap during the third quarter worth about $832,000. Exchange Traded Concepts LLC grew its position in shares of Snap by 38.7% during the third quarter. Exchange Traded Concepts LLC now owns 784,982 shares of the company’s stock worth $8,399,000 after acquiring an additional 219,111 shares during the last quarter. APG Asset Management N.V. grew its position in shares of Snap by 3.9% during the second quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock worth $45,835,000 after acquiring an additional 112,135 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of Snap by 17.0% during the third quarter. Vontobel Holding Ltd. now owns 327,705 shares of the company’s stock worth $3,506,000 after acquiring an additional 47,717 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

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.