Snap Inc. (NYSE:SNAP) Receives $13.77 Average Price Target from Analysts

Shares of Snap Inc. (NYSE:SNAP) have been assigned a consensus recommendation of “Hold” from the thirty-two brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, twenty-four have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $13.77.

A number of equities analysts recently issued reports on the company. Argus raised Snap to a “hold” rating in a report on Thursday, August 8th. Truist Financial decreased their price target on Snap from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Snap in a research note on Tuesday, August 6th. Roth Mkm reaffirmed a “neutral” rating and set a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. Finally, Morgan Stanley raised Snap from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $12.00 to $16.00 in a research note on Tuesday, July 23rd.

Insider Transactions at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the transaction, the general counsel now directly owns 489,058 shares of the company’s stock, valued at $5,286,716.98. 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 Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were 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 of the company’s stock, valued at $508,832,634.97. 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. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $10.81, for a total transaction of $194,580.00. Following the transaction, the general counsel now directly owns 489,058 shares in the company, valued at $5,286,716.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,510,352 shares of company stock valued at $13,446,353. 22.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Snap

Hedge funds have recently bought and sold shares of the business. EP Wealth Advisors LLC grew its position in shares of Snap by 19.0% in the fourth quarter. EP Wealth Advisors LLC now owns 20,263 shares of the company’s stock valued at $343,000 after purchasing an additional 3,238 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Snap by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after buying an additional 3,503,230 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Snap by 6.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after buying an additional 1,232 shares during the period. Kapitalo Investimentos Ltda bought a new stake in shares of Snap in the fourth quarter valued at about $108,000. Finally, Perpetual Ltd bought a new stake in shares of Snap in the first quarter valued at about $273,000. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Stock Performance

Shares of SNAP stock opened at $10.49 on Friday. Snap has a 12-month low of $8.29 and a 12-month high of $17.90. The firm has a market capitalization of $17.21 billion, a price-to-earnings ratio of -12.95 and a beta of 1.01. The business has a 50 day simple moving average of $9.83 and a 200 day simple moving average of $12.72. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. On average, equities research analysts anticipate that Snap will post -0.47 EPS for the current year.

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.