Snap (NYSE:SNAP) Shares Gap Up on Analyst Upgrade

Shares of Snap Inc. (NYSE:SNAP) gapped up before the market opened on Thursday after Cantor Fitzgerald raised their price target on the stock from $7.00 to $9.00. The stock had previously closed at $7.30, but opened at $8.58. Cantor Fitzgerald currently has a neutral rating on the stock. Snap shares last traded at $8.3690, with a volume of 55,056,015 shares.

Several other equities analysts also recently weighed in on the company. UBS Group decreased their target price on Snap from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. TD Cowen increased their price target on Snap from $9.00 to $10.00 and gave the company a “hold” rating in a report on Tuesday, July 15th. Guggenheim reaffirmed a “neutral” rating and issued a $8.00 price target on shares of Snap in a report on Friday, September 12th. Citizens Jmp reaffirmed a “market perform” rating on shares of Snap in a report on Wednesday, August 6th. Finally, Sanford C. Bernstein raised 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. Four research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $34.72.

Insiders Place Their Bets

In other news, CFO Derek Andersen sold 33,871 shares of Snap stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $7.56, for a total transaction of $256,064.76. Following the sale, the chief financial officer owned 3,109,581 shares in the company, valued at approximately $23,508,432.36. The trade was a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ajit Mohan sold 28,238 shares of Snap stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $7.83, for a total value of $221,103.54. Following the sale, the insider owned 5,436,173 shares in the company, valued at $42,565,234.59. This trade represents a 0.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 510,569 shares of company stock valued at $3,741,723 over the last quarter. Corporate 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 lifted its stake in Snap by 169.9% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock valued at $26,000 after buying an additional 1,852 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Snap in the 3rd quarter valued at approximately $33,000. Quarry LP purchased a new stake in Snap in the 1st quarter valued at approximately $34,000. Itau Unibanco Holding S.A. purchased a new stake in Snap in the 1st quarter valued at approximately $35,000. Finally, Wealth Preservation Advisors LLC purchased a new position in shares of Snap in the 1st quarter worth $44,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Stock Up 12.6%

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 firm has a market capitalization of $13.89 billion, a PE ratio of -25.83 and a beta of 0.89. The firm has a 50-day moving average of $7.80 and a two-hundred day moving average of $8.25.

Snap (NYSE:SNAP) last announced its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). The business had revenue of $1.51 billion for the quarter, compared to analyst estimates 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 was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share. Snap has set its Q4 2025 guidance at EPS. On average, equities research analysts forecast that Snap Inc. will post -0.3 EPS for the current year.

Snap Company Profile

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.