Snap Inc. (NYSE:SNAP) Receives $36.87 Average Price Target from Analysts

Shares of Snap Inc. (NYSE:SNAP) have received an average rating of “Hold” from the thirty-three ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, twenty-five have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $36.87.

A number of research analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price objective on Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a report on Wednesday, February 5th. Evercore ISI raised their target price on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Susquehanna lifted their price target on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Finally, Loop Capital upped their price objective on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th.

Snap Stock Up 0.8 %

Shares of SNAP stock opened at $10.43 on Thursday. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The firm has a market capitalization of $17.68 billion, a PE ratio of -24.82 and a beta of 0.99. 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 stock’s 50-day simple moving average is $11.17 and its 200-day simple moving average is $10.78.

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

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $11.89, for a total value of $214,020.00. Following the transaction, the general counsel now directly owns 464,009 shares of the company’s stock, valued at $5,517,067.01. This trade represents a 3.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Rebecca Morrow sold 32,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $12.42, for a total value of $397,440.00. Following the completion of the sale, the chief accounting officer now owns 433,064 shares of the company’s stock, valued at $5,378,654.88. This trade represents a 6.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 499,471 shares of company stock valued at $5,608,926 in the last 90 days. 22.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC raised its stake in Snap by 3,391.5% during the third quarter. International Assets Investment Management LLC now owns 24,685 shares of the company’s stock worth $264,000 after purchasing an additional 23,978 shares during the period. Forsta AP Fonden increased its holdings in shares of Snap by 15.0% during the 3rd quarter. Forsta AP Fonden now owns 236,600 shares of the company’s stock worth $2,532,000 after buying an additional 30,900 shares during the last quarter. PFG Investments LLC raised its position in shares of Snap by 80.3% during the 3rd quarter. PFG Investments LLC now owns 49,271 shares of the company’s stock valued at $527,000 after buying an additional 21,950 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Snap by 20.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,323 shares of the company’s stock valued at $153,000 after acquiring an additional 2,395 shares during the last quarter. Finally, Trajan Wealth LLC grew its position in Snap by 24.8% in the third quarter. Trajan Wealth LLC now owns 19,059 shares of the company’s stock worth $204,000 after acquiring an additional 3,792 shares during the period. 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.