Snap (NYSE:SNAP) Price Target Cut to $9.50 by Analysts at The Goldman Sachs Group

Snap (NYSE:SNAP) had its target price lowered by analysts at The Goldman Sachs Group from $13.50 to $9.50 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 20.56% from the stock’s current price.

Several other research firms have also issued reports on SNAP. Barclays reaffirmed an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Guggenheim reaffirmed a “neutral” rating on shares of Snap in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. lowered their price objective on Snap from $10.00 to $8.00 and set an “underweight” rating on the stock in a report on Tuesday, April 8th. Citigroup boosted their target price on Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Finally, JMP Securities reiterated a “market outperform” rating and set a $16.00 price target on shares of Snap in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.17.

Snap Stock Down 1.0 %

Shares of Snap stock traded down $0.08 on Monday, hitting $7.88. 15,173,285 shares of the company traded hands, compared to its average volume of 28,146,187. Snap has a 12-month low of $7.08 and a 12-month high of $17.33. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. The company has a market cap of $13.37 billion, a PE ratio of -18.76 and a beta of 0.92. The company has a 50-day moving average price of $9.48 and a 200 day moving average price of $10.67.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Sell-side analysts predict that Snap will post -0.3 earnings per share for the current year.

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $11.49, for a total transaction of $206,820.00. Following the sale, the general counsel now directly owns 480,498 shares of the company’s stock, valued at $5,520,922.02. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca Morrow sold 8,837 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the transaction, the chief accounting officer now owns 429,892 shares of the company’s stock, valued at $4,660,029.28. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,356,523 shares of company stock worth $12,710,077. Insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several hedge funds have recently added to or reduced their stakes in the company. Sivia Capital Partners LLC acquired a new position in Snap during the 1st quarter valued at about $184,000. Prospect Financial Services LLC acquired a new position in shares of Snap in the 1st quarter valued at $100,000. Intellectus Partners LLC bought a new position in shares of Snap in the 1st quarter worth $103,000. NBC Securities Inc. increased its holdings in Snap by 154,650.0% in the first quarter. NBC Securities Inc. now owns 3,095 shares of the company’s stock valued at $26,000 after purchasing an additional 3,093 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in Snap by 10.2% in the first quarter. Rhumbline Advisers now owns 192,210 shares of the company’s stock valued at $1,674,000 after buying an additional 17,868 shares during the period. Institutional investors own 47.52% of the company’s stock.

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.