Snap (NYSE:SNAP) Price Target Raised to $13.00

Snap (NYSE:SNAP) had its price target hoisted by BMO Capital Markets from $12.00 to $13.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Rosenblatt Securities lifted their price objective on shares of Snap from $8.70 to $9.50 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen boosted their price target on shares of Snap from $9.00 to $10.00 and gave the stock a “hold” rating in a report on Tuesday, July 15th. Morgan Stanley decreased their price objective on shares of Snap from $8.50 to $8.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Sanford C. Bernstein boosted their target price on Snap from $9.00 to $10.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Snap in a report on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $34.98.

Snap Price Performance

SNAP stock opened at $8.18 on Thursday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 3.88 and a current ratio of 3.88. The business has a 50-day simple moving average of $7.84 and a two-hundred day simple moving average of $8.25. The company has a market capitalization of $13.83 billion, a P/E ratio of -28.22 and a beta of 0.89. Snap has a 52-week low of $6.90 and a 52-week high of $13.28.

Snap (NYSE:SNAP) last posted its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Snap had a negative net margin of 8.60% and a negative return on equity of 21.49%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the business earned ($0.09) EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. Snap has set its Q4 2025 guidance at EPS. Research analysts expect that Snap will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, CFO Derek Andersen sold 60,966 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $7.17, for a total value of $437,126.22. Following the completion of the sale, the chief financial officer directly owned 3,143,452 shares of the company’s stock, valued at $22,538,550.84. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ajit Mohan sold 184,287 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $7.18, for a total value of $1,323,180.66. Following the completion of the sale, the insider owned 5,492,006 shares in the company, valued at approximately $39,432,603.08. The trade was a 3.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 510,569 shares of company stock valued at $3,741,723. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its stake in shares of Snap by 169.9% in the second quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock worth $26,000 after purchasing an additional 1,852 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Snap in the 3rd quarter worth approximately $33,000. Quarry LP purchased a new position in Snap in the 1st quarter valued at approximately $34,000. Itau Unibanco Holding S.A. bought a new stake in Snap during the 1st quarter valued at $35,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of Snap during the first quarter worth $44,000. 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.