Snap (NYSE:SNAP) Price Target Lowered to $16.00 at JMP Securities

Snap (NYSE:SNAP) had its price target lowered by JMP Securities from $17.00 to $16.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has a market outperform rating on the stock.

Other analysts have also recently issued reports about the company. Argus raised Snap to a “hold” rating in a research note on Thursday, August 8th. B. Riley lifted their price objective on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday. Cantor Fitzgerald upped their target price on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Wednesday. Truist Financial lifted their price target on shares of Snap from $13.00 to $14.00 and gave the company a “hold” rating in a report on Wednesday. Finally, Morgan Stanley raised shares of Snap from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $12.00 to $16.00 in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.25.

Snap Stock Performance

Shares of SNAP stock opened at $12.53 on Wednesday. The company has a market capitalization of $20.79 billion, a P/E ratio of -21.60 and a beta of 0.99. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The company has a debt-to-equity ratio of 1.63, a quick ratio of 3.98 and a current ratio of 4.04. The stock has a 50 day moving average price of $10.18 and a two-hundred day moving average price of $12.72.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.21) EPS. Analysts expect that Snap will post -0.47 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Evan Spiegel sold 150,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total transaction of $1,327,500.00. Following the sale, the chief executive officer now owns 3,327,844 shares in the company, valued at $29,451,419.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.85, for a total value of $1,327,500.00. Following the completion of the transaction, the chief executive officer now owns 3,327,844 shares in the company, valued at $29,451,419.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joanna Coles sold 6,434 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total value of $77,208.00. Following the sale, the director now directly owns 54,761 shares in the company, valued at $657,132. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,497,051 shares of company stock worth $13,261,098 in the last quarter. Corporate insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

A number of large investors have recently made changes to their positions in SNAP. Kovack Advisors Inc. boosted its holdings in Snap by 29.1% in the first quarter. Kovack Advisors Inc. now owns 35,085 shares of the company’s stock worth $403,000 after purchasing an additional 7,900 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in shares of Snap by 11.3% in the first quarter. Commonwealth Equity Services LLC now owns 129,057 shares of the company’s stock worth $1,482,000 after acquiring an additional 13,055 shares during the period. Private Advisor Group LLC grew its holdings in shares of Snap by 69.6% in the first quarter. Private Advisor Group LLC now owns 77,061 shares of the company’s stock worth $885,000 after acquiring an additional 31,631 shares during the period. Blackhawk Capital Partners LLC. purchased a new stake in Snap during the first quarter valued at $115,000. Finally, Tobam lifted its holdings in Snap by 13.0% in the first quarter. Tobam now owns 909,641 shares of the company’s stock valued at $10,443,000 after acquiring an additional 104,458 shares during the period. 47.52% of the stock is currently owned by institutional investors.

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.