Snap (NYSE:SNAP) Trading Up 6.3% – What’s Next?

Shares of Snap Inc. (NYSE:SNAP) rose 6.3% on Friday . The company traded as high as $13.28 and last traded at $12.80. Approximately 17,214,273 shares changed hands during mid-day trading, a decline of 21% from the average daily volume of 21,841,229 shares. The stock had previously closed at $12.04.

Wall Street Analysts Forecast Growth

SNAP has been the subject of several research reports. The Goldman Sachs Group upped their price objective on shares of Snap from $12.00 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citigroup boosted their target price on shares of Snap from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Friday, November 29th. B. Riley increased their price target on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Truist Financial boosted their price objective on shares of Snap from $13.00 to $14.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. Finally, Roth Mkm restated a “neutral” rating and issued a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.10.

Snap Stock Performance

The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The firm has a 50-day moving average price of $11.59 and a two-hundred day moving average price of $11.50. The firm has a market cap of $20.91 billion, a PE ratio of -21.50 and a beta of 0.98.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted ($0.21) EPS. Research analysts forecast that Snap Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snap news, SVP Eric Young sold 112,020 shares of Snap stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the transaction, the senior vice president now directly owns 2,791,048 shares of the company’s stock, valued at $29,445,556.40. The trade was a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s 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 sale, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at $715,137,362.50. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,451,618 shares of company stock valued at $17,560,157 in the last ninety days. 22.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new stake in shares of Snap during the third quarter valued at about $29,000. Paladin Wealth LLC acquired a new position in Snap during the 3rd quarter worth about $30,000. Advisors Asset Management Inc. lifted its position in shares of Snap by 141.9% during 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 in the last quarter. Hollencrest Capital Management acquired a new position in shares of Snap in the second quarter valued at approximately $33,000. Finally, Brooklyn Investment Group acquired a new position in shares of Snap in the third quarter worth $41,000. 47.52% of the stock is owned by institutional investors and hedge funds.

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.