Snap (NYSE:SNAP) Price Target Raised to $9.50

Snap (NYSE:SNAP) had its target price hoisted by research analysts at Rosenblatt Securities from $8.70 to $9.50 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Rosenblatt Securities’ price objective points to a potential upside of 29.96% from the stock’s current price.

A number of other analysts also recently weighed in on SNAP. Bank of America reduced their target price on shares of Snap from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Snap in a research report on Wednesday, August 6th. New Street Research downgraded shares of Snap from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 28th. Truist Financial reduced their target price on shares of Snap from $11.00 to $10.00 and set a “hold” rating on the stock in a research report on Wednesday, August 6th. Finally, Piper Sandler reduced their target price on shares of Snap from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Four investment 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.60.

Snap Stock Down 2.1%

Shares of Snap stock opened at $7.31 on Thursday. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 1.73. The company’s fifty day simple moving average is $7.80 and its two-hundred day simple moving average is $8.25. The company has a market cap of $12.35 billion, a P/E ratio of -22.84 and a beta of 0.89. Snap has a 12-month low of $6.90 and a 12-month high of $13.28.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Snap had a negative net margin of 9.69% and a negative return on equity of 23.32%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) earnings per share. Snap has set its Q4 2025 guidance at EPS. Research analysts anticipate that Snap will post -0.3 EPS for the current year.

Insider Activity

In other Snap news, CFO Derek Andersen sold 33,871 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $7.56, for a total transaction of $256,064.76. Following the transaction, the chief financial officer owned 3,109,581 shares in the company, valued at approximately $23,508,432.36. This represents a 1.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 24,000 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $7.73, for a total transaction of $185,520.00. Following the transaction, the general counsel owned 490,454 shares in the company, valued at $3,791,209.42. This represents a 4.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Signaturefd LLC lifted its stake in Snap by 169.9% during the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock valued at $26,000 after acquiring an additional 1,852 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in Snap during the 3rd quarter valued at about $33,000. Quarry LP bought a new position in Snap during the 1st quarter valued at about $34,000. Itau Unibanco Holding S.A. bought a new position in shares of Snap in the 1st quarter worth approximately $35,000. Finally, Wealth Preservation Advisors LLC bought a new position in shares of Snap in the 1st quarter worth approximately $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.