Snap Inc. (NYSE:SNAP) Receives $36.87 Average Target Price from Analysts

Snap Inc. (NYSE:SNAP) has been assigned an average recommendation of “Hold” from the thirty-three brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $36.87.

Several research analysts have commented on SNAP shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 price objective (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Bank of America lifted their price target on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Cantor Fitzgerald increased their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lowered Snap from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $15.00 to $11.00 in a research report on Wednesday, February 5th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $16.00 price target on shares of Snap in a report on Monday, January 27th.

Snap Stock Down 2.5 %

Shares of NYSE:SNAP opened at $10.15 on Thursday. The company has a 50-day moving average price of $11.14 and a 200 day moving average price of $10.79. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap has a 12 month low of $8.29 and a 12 month high of $17.33. The company has a market cap of $17.21 billion, a price-to-earnings ratio of -24.15 and a beta of 0.99.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. As a group, equities research analysts predict that Snap will post -0.3 earnings per share for the current year.

Insiders Place Their Bets

In other Snap news, SVP Eric Young sold 102,152 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the sale, the senior vice president now directly owns 3,443,419 shares of the company’s stock, valued at approximately $37,326,661.96. This represents a 2.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $11.89, for a total transaction of $214,020.00. Following the completion of the sale, the general counsel now owns 464,009 shares in the company, valued at $5,517,067.01. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 499,471 shares of company stock worth $5,608,926 over the last 90 days. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several institutional investors and hedge funds have recently bought and sold shares of SNAP. International Assets Investment Management LLC boosted its position in shares of Snap by 3,391.5% in the 3rd quarter. International Assets Investment Management LLC now owns 24,685 shares of the company’s stock worth $264,000 after purchasing an additional 23,978 shares in the last quarter. Forsta AP Fonden boosted its holdings in Snap by 15.0% in the third quarter. Forsta AP Fonden now owns 236,600 shares of the company’s stock worth $2,532,000 after acquiring an additional 30,900 shares in the last quarter. PFG Investments LLC grew its stake in shares of Snap by 80.3% during the third quarter. PFG Investments LLC now owns 49,271 shares of the company’s stock worth $527,000 after acquiring an additional 21,950 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Snap by 20.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,323 shares of the company’s stock valued at $153,000 after acquiring an additional 2,395 shares in the last quarter. Finally, Trajan Wealth LLC increased its holdings in shares of Snap by 24.8% during the third quarter. Trajan Wealth LLC now owns 19,059 shares of the company’s stock valued at $204,000 after acquiring an additional 3,792 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.