Snap (NYSE:SNAP) had its price target raised by equities researchers at 140166 from $25.00 to $40.00 in a research note issued on Wednesday, Briefing.com reports. The brokerage currently has a “neutral” rating on the stock. 140166’s price target indicates a potential upside of 40.60% from the company’s previous close.
SNAP has been the topic of several other research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $28.00 price target on shares of Snap in a report on Monday, July 20th. Truist raised Snap from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a report on Wednesday. Oppenheimer upped their price target on Snap from $18.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, July 22nd. Jefferies Financial Group boosted their target price on shares of Snap from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus reissued a “buy” rating and set a $32.00 target price (up from $27.00) on shares of Snap in a research note on Wednesday, October 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $30.36.
NYSE SNAP opened at $28.45 on Wednesday. The stock has a market capitalization of $41.80 billion, a P/E ratio of -36.95 and a beta of 1.64. Snap has a 1 year low of $7.89 and a 1 year high of $29.08. The business’s fifty day moving average is $25.22 and its two-hundred day moving average is $21.09. The company has a debt-to-equity ratio of 0.87, a quick ratio of 5.99 and a current ratio of 5.99.
Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 20th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.06. The company had revenue of $678.67 million for the quarter, compared to analysts’ expectations of $551.36 million. Snap had a negative return on equity of 49.08% and a negative net margin of 57.18%. The firm’s revenue was up 52.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) earnings per share. On average, research analysts forecast that Snap will post -0.71 earnings per share for the current year.
In related news, Director Joanna Coles sold 5,027 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $22.00, for a total value of $110,594.00. Following the completion of the sale, the director now directly owns 59,978 shares in the company, valued at $1,319,516. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jerry James Hunter sold 7,721 shares of the company’s stock in a transaction on Monday, October 19th. The stock was sold at an average price of $28.30, for a total transaction of $218,504.30. Following the completion of the sale, the vice president now owns 2,003,121 shares of the company’s stock, valued at $56,688,324.30. The disclosure for this sale can be found here. Insiders sold 4,807,756 shares of company stock valued at $108,726,157 over the last quarter.
Large investors have recently modified their holdings of the stock. Cullen Frost Bankers Inc. boosted its holdings in Snap by 266.7% in the second quarter. Cullen Frost Bankers Inc. now owns 1,100 shares of the company’s stock worth $26,000 after purchasing an additional 800 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new stake in Snap during the third quarter valued at about $26,000. Jackson Square Capital LLC bought a new stake in Snap during the second quarter valued at about $35,000. Truewealth LLC boosted its holdings in Snap by 70.1% during the second quarter. Truewealth LLC now owns 1,789 shares of the company’s stock valued at $42,000 after acquiring an additional 737 shares during the period. Finally, M&R Capital Management Inc. boosted its holdings in Snap by 160.0% during the third quarter. M&R Capital Management Inc. now owns 1,625 shares of the company’s stock valued at $42,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 47.00% 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 called Snaps. It also provides Camera, a tool to personalize and add context to Snaps; Chat 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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