Snap (NYSE:SNAP) Price Target Raised to $12.00

Snap (NYSE:SNAP) had its price objective boosted by B. Riley from $11.00 to $12.00 in a research report released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock. B. Riley also issued estimates for Snap’s FY2028 earnings at $0.47 EPS.

A number of other brokerages have also recently commented on SNAP. Roth Mkm reissued a “neutral” rating and issued a $14.00 price target on shares of Snap in a research report on Wednesday, September 18th. Stifel Nicolaus lowered their price objective on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Barclays lowered their price objective on Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $14.00 price objective on shares of Snap in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. lowered their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Snap presently has an average rating of “Hold” and an average target price of $14.25.

Snap Stock Performance

Shares of SNAP opened at $12.53 on Wednesday. The company has a quick ratio of 3.98, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The business’s 50 day moving average price is $10.18 and its 200-day moving average price is $12.70. Snap has a 52 week low of $8.29 and a 52 week high of $17.90. The stock has a market cap of $20.79 billion, a P/E ratio of -21.60 and a beta of 0.99.

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

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the sale, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Eric Young sold 114,097 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the transaction, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at approximately $27,710,096.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now directly owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. 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 1,497,051 shares of company stock valued at $13,261,098 in the last ninety days. 22.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap

Institutional investors have recently modified their holdings of the stock. United Bank purchased a new position in Snap during the third quarter valued at approximately $177,000. Concurrent Investment Advisors LLC increased its holdings in Snap by 8.3% during the third quarter. Concurrent Investment Advisors LLC now owns 29,227 shares of the company’s stock valued at $313,000 after buying an additional 2,229 shares during the period. Forum Financial Management LP increased its holdings in Snap by 49.2% during the third quarter. Forum Financial Management LP now owns 17,556 shares of the company’s stock valued at $188,000 after buying an additional 5,793 shares during the period. Westbourne Investment Advisors Inc. increased its holdings in Snap by 3.7% during the third quarter. Westbourne Investment Advisors Inc. now owns 336,837 shares of the company’s stock valued at $3,604,000 after buying an additional 11,958 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Snap by 150.1% during the third quarter. Van ECK Associates Corp now owns 73,295 shares of the company’s stock valued at $744,000 after buying an additional 43,994 shares during the period. 47.52% of the stock is owned by hedge funds and other 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.