Snap (NYSE:SNAP) Price Target Cut to $9.00 by Analysts at Wells Fargo & Company

Snap (NYSE:SNAP) had its price objective decreased by Wells Fargo & Company from $11.00 to $9.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 4.11% from the company’s previous close.

A number of other analysts have also commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Snap from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Wednesday, February 5th. Citizens Jmp cut Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays restated an “overweight” rating on shares of Snap in a report on Wednesday, February 5th. Citigroup increased their price target on shares of Snap from $13.00 to $13.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $16.00 price objective (down from $18.00) on shares of Snap in a report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $36.80.

Snap Stock Performance

Shares of NYSE:SNAP traded down $0.25 during trading hours on Monday, hitting $8.65. The stock had a trading volume of 9,949,938 shares, compared to its average volume of 27,074,958. The stock’s fifty day simple moving average is $10.16 and its 200 day simple moving average is $10.81. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The firm has a market capitalization of $14.67 billion, a price-to-earnings ratio of -20.54 and a beta of 0.92. Snap has a 1-year low of $8.29 and a 1-year high of $17.33.

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

Insider Activity

In related news, CFO Derek Andersen sold 61,334 shares of Snap stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $664,860.56. Following the transaction, the chief financial officer now owns 3,564,235 shares of the company’s stock, valued at $38,636,307.40. This trade represents a 1.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $10.84, for a total transaction of $195,120.00. Following the completion of the sale, the general counsel now directly owns 498,498 shares of the company’s stock, valued at $5,403,718.32. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,350,523 shares of company stock valued at $12,698,797 over the last 90 days. 22.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mountain Hill Investment Partners Corp. acquired a new stake in Snap during the 4th quarter worth $27,000. Raiffeisen Bank International AG acquired a new stake in shares of Snap during the fourth quarter worth about $30,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Snap during the 4th quarter valued at about $32,000. Osterweis Capital Management Inc. acquired a new position in shares of Snap in the 4th quarter valued at approximately $43,000. Finally, Blue Trust Inc. raised its holdings in Snap by 128.0% during the 4th quarter. Blue Trust Inc. now owns 4,370 shares of the company’s stock worth $47,000 after buying an additional 2,453 shares during the period. 47.52% of the stock is 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.