Loop Capital Increases Snap (NYSE:SNAP) Price Target to $16.00

Snap (NYSE:SNAP) had its target price increased by Loop Capital from $14.00 to $16.00 in a report released on Tuesday morning,Benzinga reports. Loop Capital currently has a buy rating on the stock.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Susquehanna reduced their target price on Snap from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. JMP Securities lowered their price target on Snap from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Wednesday, October 30th. HSBC downgraded Snap from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $16.00 target price on shares of Snap in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $14.31.

Snap Trading Down 3.8 %

Shares of Snap stock opened at $12.00 on Tuesday. The stock has a market cap of $20.13 billion, a PE ratio of -20.69 and a beta of 0.99. The firm has a fifty day moving average price of $10.46 and a 200 day moving average price of $12.74. Snap has a 1 year low of $8.29 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.21) EPS. Equities research analysts predict that Snap will post -0.41 earnings per share for the current year.

Insider Buying and Selling at Snap

In other news, SVP Eric Young sold 114,097 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the sale, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at approximately $27,710,096.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Eric Young sold 114,097 shares of Snap 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 transaction, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at $27,710,096.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rebecca Morrow sold 8,923 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30. Following the sale, the chief accounting officer now owns 472,405 shares of the company’s stock, valued at approximately $4,298,885.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,365,051 shares of company stock worth $15,965,178 over the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several institutional investors have recently added to or reduced their stakes in SNAP. Hollencrest Capital Management purchased a new position in shares of Snap in the 2nd quarter valued at approximately $33,000. Blue Trust Inc. grew its position in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares during the last quarter. Rothschild Investment LLC acquired a new position in Snap in the 2nd quarter valued at $40,000. V Square Quantitative Management LLC purchased a new position in Snap during the 3rd quarter worth $29,000. Finally, Paladin Wealth LLC acquired a new stake in shares of Snap in the 3rd quarter worth $30,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.