Research Analysts’ Weekly Ratings Changes for Snap (SNAP)

Several analysts have recently updated their ratings and price targets for Snap (NYSE: SNAP):

• 10/23/2024 – Snap was upgraded by analysts at JMP Securities from a “market perform” rating to an “outperform” rating. They now have a $17.00 price target on the stock.
• 10/14/2024 – Snap had its price target lowered by analysts at Stifel Nicolaus from $13.00 to $11.00. They now have a “hold” rating on the stock.
• 10/7/2024 – Snap had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $8.00 price target on the stock.
• 10/4/2024 – Snap had its price target lowered by analysts at Wells Fargo & Company from $15.00 to $14.00. They now have an “overweight” rating on the stock.
• 9/30/2024 – Snap had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $8.00 price target on the stock.
• 9/23/2024 – Snap had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $8.00 price target on the stock.
• 9/20/2024 – Snap is now covered by analysts at B. Riley. They set a “neutral” rating and a $11.00 price target on the stock.
• 9/19/2024 – Snap was upgraded by analysts at B. Riley to a “hold” rating.
• 9/18/2024 – Snap had its “neutral” rating reaffirmed by analysts at Roth Mkm. They now have a $14.00 price target on the stock.
• 9/18/2024 – Snap had its “market perform” rating reaffirmed by analysts at JMP Securities.
• 9/18/2024 – Snap had its “buy” rating reaffirmed by analysts at Deutsche Bank Aktiengesellschaft. They now have a $14.00 price target on the stock.
• 9/5/2024 – Snap is now covered by analysts at Cantor Fitzgerald. They set a “neutral” rating and a $8.00 price target on the stock.

Snap Price Performance

Shares of NYSE:SNAP traded up $0.27 during trading hours on Wednesday, hitting $10.25. 13,997,689 shares of the company’s stock traded hands, compared to its average volume of 26,827,107. Snap Inc. has a 52 week low of $8.29 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The company’s fifty day simple moving average is $9.87 and its two-hundred day simple moving average is $12.71. The company has a market cap of $17.01 billion, a price-to-earnings ratio of -14.24 and a beta of 1.01.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating 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 analyst estimates of $1.25 billion. As a group, equities analysts anticipate that Snap Inc. will post -0.47 EPS for the current fiscal year.

Insider Activity

In other Snap news, SVP Eric Young sold 114,097 shares of the firm’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 completion of the transaction, the senior vice president now directly owns 3,041,723 shares in the company, valued at $27,710,096.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Snap news, SVP Eric Young sold 114,097 shares of the firm’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 completion of the transaction, the senior vice president now directly owns 3,041,723 shares in the company, valued at $27,710,096.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Rebecca Morrow sold 8,923 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30. Following the completion of the transaction, the chief accounting officer now owns 472,405 shares of the company’s stock, valued at approximately $4,298,885.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,510,352 shares of company stock worth $13,446,353. Corporate insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Snap by 0.9% during 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 in the last quarter. Capital World Investors raised its position in Snap by 0.8% during the first quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock valued at $531,206,000 after acquiring an additional 385,191 shares in the last quarter. Marshall Wace LLP raised its position in Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after acquiring an additional 12,533,653 shares in the last quarter. Ossiam raised its position in Snap by 7.1% during the first quarter. Ossiam now owns 11,334,804 shares of the company’s stock valued at $130,124,000 after acquiring an additional 751,846 shares in the last quarter. Finally, TB Alternative Assets Ltd. raised its position in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after acquiring an additional 4,098,847 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.