Snap (NYSE:SNAP) had its price target hoisted by Credit Suisse Group from $15.00 to $18.00 in a research report sent to investors on Tuesday, Briefing.com Automated Import reports. The firm currently has an outperform rating on the stock.
Other analysts have also issued research reports about the company. Barclays lowered their target price on Waters from $218.00 to $210.00 and set an equal weight rating for the company in a report on Wednesday, April 24th. Pivotal Research upgraded Snap from a hold rating to a buy rating and upped their target price for the stock from $13.25 to $17.25 in a report on Thursday, June 6th. Nomura increased their price objective on Twitter from $31.00 to $33.00 and gave the company a neutral rating in a report on Wednesday, April 24th. Vertical Group lowered Snap from a mixed rating to a negative rating in a report on Thursday, April 18th. Finally, Aegis lowered Shutterfly from a buy rating to a hold rating in a report on Monday, June 17th. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $11.66.
Snap stock opened at $15.57 on Tuesday. The business’s fifty day moving average is $13.72. The company has a debt-to-equity ratio of 0.15, a quick ratio of 4.75 and a current ratio of 4.75. The stock has a market capitalization of $20.67 billion, a price-to-earnings ratio of -16.05 and a beta of 1.08. Snap has a twelve month low of $4.82 and a twelve month high of $15.94.
Snap (NYSE:SNAP) last posted its earnings results on Tuesday, April 23rd. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The company had revenue of $320.43 million for the quarter, compared to analysts’ expectations of $306.28 million. Snap had a negative return on equity of 47.71% and a negative net margin of 92.94%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. Research analysts anticipate that Snap will post -0.76 earnings per share for the current year.
In related news, Director Michael Lynton sold 25,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $11.09, for a total value of $277,250.00. Following the completion of the transaction, the director now owns 126,817 shares in the company, valued at approximately $1,406,400.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jerry James Hunter sold 39,943 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $14.90, for a total value of $595,150.70. Following the completion of the transaction, the vice president now owns 1,700,678 shares of the company’s stock, valued at approximately $25,340,102.20. The disclosure for this sale can be found here. Insiders sold a total of 2,748,027 shares of company stock valued at $34,004,202 in the last 90 days.
A number of hedge funds have recently modified their holdings of the stock. FMR LLC grew its position in Snap by 2.8% during the 4th quarter. FMR LLC now owns 22,150,589 shares of the company’s stock worth $122,050,000 after purchasing an additional 606,983 shares during the period. BlackRock Inc. grew its position in Snap by 2.7% during the 4th quarter. BlackRock Inc. now owns 14,919,140 shares of the company’s stock worth $82,205,000 after purchasing an additional 396,692 shares during the period. Hillhouse Capital Advisors Ltd. acquired a new stake in Snap during the 4th quarter worth about $38,157,000. Geode Capital Management LLC grew its position in Snap by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 4,810,361 shares of the company’s stock worth $26,505,000 after purchasing an additional 208,932 shares during the period. Finally, Northern Trust Corp grew its position in Snap by 3.2% during the 4th quarter. Northern Trust Corp now owns 1,455,150 shares of the company’s stock worth $8,018,000 after purchasing an additional 44,768 shares during the period. Institutional investors own 26.08% of the company’s stock.
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
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