Snap (NYSE:SNAP) Given New $12.00 Price Target at Loop Capital

Snap (NYSE:SNAP) had its price target decreased by Loop Capital from $16.00 to $12.00 in a research report report published on Friday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

Several other research analysts have also recently issued reports on the stock. Piper Sandler reduced their target price on shares of Snap from $13.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. cut their price target on Snap from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Tuesday, April 8th. BMO Capital Markets decreased their price objective on Snap from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Citizens Jmp upgraded Snap from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Finally, Rosenblatt Securities reduced their price target on Snap from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $35.62.

Snap Stock Up 1.9%

Snap stock opened at $8.74 on Friday. The business’s 50-day simple moving average is $8.48 and its two-hundred day simple moving average is $10.27. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The company has a market cap of $14.60 billion, a PE ratio of -20.81 and a beta of 0.61. Snap has a fifty-two week low of $7.08 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.12). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same period last year, the firm earned $0.03 EPS. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities analysts anticipate that Snap will post -0.3 EPS for the current year.

Insider Activity at Snap

In other news, SVP Eric Young sold 102,152 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $1,107,327.68. Following the completion of the sale, the senior vice president now directly owns 3,443,419 shares in the company, valued at $37,326,661.96. This represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Derek Andersen sold 61,334 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $664,860.56. Following the completion of the transaction, the chief financial officer now directly owns 3,564,235 shares in the company, valued at approximately $38,636,307.40. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,632,116 shares of company stock valued at $23,127,182. 22.68% of the stock is owned by corporate insiders.

Institutional Trading of Snap

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Snap by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company’s stock worth $953,601,000 after purchasing an additional 6,921,841 shares in the last quarter. Capital World Investors increased its holdings in shares of Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after purchasing an additional 23,569,522 shares during the last quarter. SRS Investment Management LLC lifted its position in Snap by 1.4% during the fourth quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock worth $793,998,000 after buying an additional 1,001,632 shares in the last quarter. Capital International Investors purchased a new position in Snap during the fourth quarter worth approximately $422,049,000. Finally, Geode Capital Management LLC boosted its stake in Snap by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock worth $127,078,000 after buying an additional 134,017 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.