Snap (NYSE:SNAP) PT Lowered to $12.00

Snap (NYSE:SNAP) had its price target lowered by Stifel Nicolaus from $14.00 to $12.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 10.09% from the company’s current price.

SNAP has been the subject of a number of other research reports. Piper Sandler lifted their target price on shares of Snap from $12.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. The Goldman Sachs Group cut their target price on shares of Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Rosenblatt Securities boosted their price objective on shares of Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Snap from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. Finally, Susquehanna boosted their price objective on shares of Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $13.86.

Snap Stock Up 4.7 %

NYSE SNAP opened at $10.90 on Tuesday. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. The stock’s 50 day moving average is $11.19 and its two-hundred day moving average is $12.71. The company has a market capitalization of $17.99 billion, a price-to-earnings ratio of -13.13 and a beta of 1.13. Snap has a 1-year low of $7.86 and a 1-year high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.39 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. Equities analysts forecast that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the transaction, the general counsel now directly owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Snap news, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the sale, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the sale, the general counsel now directly owns 461,005 shares in the company, valued at $7,449,840.80. The disclosure for this sale can be found here. Insiders sold 470,054 shares of company stock valued at $5,279,729 in the last quarter.

Institutional Investors Weigh In On Snap

A number of institutional investors and hedge funds have recently modified their holdings of the company. NBC Securities Inc. raised its holdings in Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after acquiring an additional 1,445 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of Snap during the 4th quarter worth approximately $29,000. Newbridge Financial Services Group Inc. grew its position in shares of Snap by 75.0% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares in the last quarter. Allworth Financial LP boosted its position in shares of Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after acquiring an additional 1,708 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Snap by 365.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company’s stock worth $47,000 after acquiring an additional 3,094 shares in the last quarter. 47.52% of the stock is owned by institutional investors.

About Snap

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.