Brokerages Set Snap Inc. (NYSE:SNAP) Price Target at $13.76

Snap Inc. (NYSE:SNAP) has earned a consensus recommendation of “Hold” from the thirty-two brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $14.00.

Several equities analysts have commented on SNAP shares. Citigroup lowered their target price on shares of Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Hsbc Global Res lowered Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group decreased their target price on Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, JMP Securities reissued a “market perform” rating on shares of Snap in a research report on Wednesday, September 18th.

Insider Transactions at Snap

In related news, SVP Eric Young sold 114,097 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the sale, the senior vice president now owns 3,041,723 shares of the company’s stock, valued at $27,710,096.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, SVP Eric Young sold 114,097 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the sale, the senior vice president now owns 3,041,723 shares of the company’s stock, valued at approximately $27,710,096.53. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 59,053 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $548,602.37. Following the transaction, the general counsel now owns 1,258,278 shares of the company’s stock, valued at $11,689,402.62. The disclosure for this sale can be found here. In the last three months, insiders sold 1,493,540 shares of company stock valued at $13,271,826. Company insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Several large investors have recently added to or reduced their stakes in SNAP. Vanguard Group Inc. raised its stake in shares of Snap by 0.9% in the first quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock valued at $1,103,786,000 after acquiring an additional 830,889 shares during the last quarter. SRS Investment Management LLC raised its position in Snap by 23.6% in the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after purchasing an additional 12,452,415 shares during the last quarter. Capital World Investors boosted its stake in Snap by 0.8% in the first quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock worth $531,206,000 after purchasing an additional 385,191 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after purchasing an additional 12,533,653 shares during the last quarter. Finally, Ossiam increased its stake in shares of Snap by 7.1% in the first quarter. Ossiam now owns 11,334,804 shares of the company’s stock valued at $130,124,000 after buying an additional 751,846 shares in the last quarter. 47.52% of the stock is owned by institutional investors.

Snap Trading Up 2.9 %

Shares of NYSE SNAP opened at $10.87 on Monday. The business has a 50 day simple moving average of $10.11 and a 200 day simple moving average of $12.78. Snap has a 52 week low of $8.29 and a 52 week high of $17.90. The stock has a market cap of $18.04 billion, a price-to-earnings ratio of -13.42 and a beta of 1.00. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. On average, research analysts predict that Snap will post -0.47 earnings per share for the current fiscal 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.