Analysts Set Snap Inc. (NYSE:SNAP) Target Price at $14.31

Snap Inc. (NYSE:SNAP) has received an average rating of “Hold” from the thirty-two research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, twenty-two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $14.31.

A number of analysts have recently commented on SNAP shares. Loop Capital boosted their price target on Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Canaccord Genuity Group upped their price target on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Susquehanna lowered their price objective on shares of Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Hsbc Global Res cut shares of Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, 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 note on Wednesday, October 30th.

Insider Buying and Selling

In other Snap news, CFO Derek Andersen sold 97,608 shares of Snap stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the transaction, the chief technology officer now owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,221,220 shares of company stock valued at $14,659,201. Insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Several institutional investors have recently made changes to their positions in SNAP. V Square Quantitative Management LLC acquired a new position in Snap in the 3rd quarter valued at $29,000. Paladin Wealth LLC bought a new position in shares of Snap in the third quarter worth $30,000. Advisors Asset Management Inc. raised its stake in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock valued at $30,000 after purchasing an additional 1,632 shares in the last quarter. Hollencrest Capital Management bought a new stake in Snap during the second quarter worth about $33,000. Finally, Blue Trust Inc. grew its stake in Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after buying an additional 1,682 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

Snap Stock Performance

Shares of SNAP stock opened at $10.60 on Tuesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. Snap has a 52 week low of $8.29 and a 52 week high of $17.90. The company’s 50 day moving average price is $10.68 and its two-hundred day moving average price is $12.67. The company has a market capitalization of $17.78 billion, a P/E ratio of -18.28 and a beta of 0.99.

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