Snap (NYSE:SNAP) Given New $5.25 Price Target at Stifel Nicolaus

Snap (NYSE:SNAP) had its price target upped by analysts at Stifel Nicolaus from $4.50 to $5.25 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential downside of 12.69% from the company’s current price.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets lifted their target price on Snap from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, April 15th. B. Riley Financial raised Snap from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, February 5th. Guggenheim reissued a “neutral” rating and issued a $6.50 target price on shares of Snap in a research report on Thursday, April 16th. Piper Sandler reissued a “neutral” rating on shares of Snap in a research report on Thursday, February 5th. Finally, JPMorgan Chase & Co. dropped their target price on Snap from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.16.

Snap Trading Down 0.3%

NYSE SNAP opened at $6.01 on Tuesday. The firm has a market cap of $10.16 billion, a P/E ratio of -22.27 and a beta of 0.91. The company has a debt-to-equity ratio of 1.53, a current ratio of 3.56 and a quick ratio of 3.56. The stock’s 50-day moving average is $4.93 and its 200-day moving average is $6.75. Snap has a one year low of $3.81 and a one year high of $10.41.

Snap (NYSE:SNAP) last announced its earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the business posted $0.01 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts anticipate that Snap will post -0.14 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other Snap news, General Counsel Zachary M. Briers sold 134,705 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total value of $633,113.50. Following the completion of the transaction, the general counsel directly owned 2,854,088 shares in the company, valued at $13,414,213.60. This trade represents a 4.51% 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, insider Ajit Mohan sold 119,339 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total value of $560,893.30. Following the completion of the transaction, the insider owned 5,158,477 shares of the company’s stock, valued at approximately $24,244,841.90. This represents a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,565,573 shares of company stock valued at $13,329,781.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP boosted its stake in shares of Snap by 92.3% during the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock worth $25,000 after acquiring an additional 1,581 shares during the period. Arax Advisory Partners boosted its stake in shares of Snap by 220.0% during the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock worth $27,000 after acquiring an additional 2,275 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Snap during the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC boosted its stake in shares of Snap by 561.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock worth $29,000 after acquiring an additional 3,071 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Snap during the 3rd quarter worth approximately $33,000. 47.52% of the stock is currently owned by institutional investors.

About Snap

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.