Evercore ISI Issues Positive Forecast for Snap (NYSE:SNAP) Stock Price

Snap (NYSE:SNAP) had its price target hoisted by research analysts at Evercore ISI from $12.00 to $15.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “in-line” rating on the stock. Evercore ISI’s price target would indicate a potential upside of 23.36% from the company’s current price.

Several other equities research analysts have also recently commented on SNAP. Benchmark reiterated a “hold” rating on shares of Snap in a research report on Friday, October 25th. Hsbc Global Res cut shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 2nd. Wells Fargo & Company reduced their price target on Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price objective on shares of Snap in a report on Wednesday, September 18th. Finally, Wolfe Research began coverage on Snap in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.25.

Snap Stock Down 3.6 %

NYSE SNAP opened at $12.16 on Wednesday. Snap has a 52 week low of $8.29 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The stock has a fifty day moving average of $10.06 and a 200-day moving average of $12.69.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 35.63% and a negative net margin of 18.49%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Analysts forecast that Snap will post -0.47 EPS for the current year.

Insider Activity at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the sale, the general counsel now directly owns 489,058 shares of the company’s stock, valued at $5,286,716.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, SVP Eric Young sold 114,097 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s 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 sale, the general counsel now directly owns 489,058 shares in the company, valued at $5,286,716.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,490,617 shares of company stock valued at $13,183,890. Corporate insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Kovack Advisors Inc. grew its holdings in Snap by 29.1% during 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 period. Commonwealth Equity Services LLC boosted its stake in shares of Snap by 11.3% during the 1st 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 increased its holdings in shares of Snap by 69.6% during the 1st 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 last quarter. Blackhawk Capital Partners LLC. acquired a new position in shares of Snap during the 1st quarter worth approximately $115,000. Finally, Tobam raised its stake in Snap by 13.0% in the 1st 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. Institutional investors own 47.52% of the company’s stock.

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.