Analysts Set Snap Inc. (NYSE:SNAP) Target Price at $37.10

Snap Inc. (NYSE:SNAP) has earned an average recommendation of “Hold” from the thirty-two analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, twenty-two have issued a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $37.10.

SNAP has been the subject of several recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $13.00 target price (up from $12.00) on shares of Snap in a report on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Guggenheim reiterated a “buy” rating and set a $12.11 target price on shares of Snap in a research note on Tuesday, December 3rd. Truist Financial increased their price target on shares of Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald lifted their price objective on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th.

Insiders Place Their Bets

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the sale, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. The trade was a 1.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 11,154 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $117,674.70. Following the completion of the transaction, the chief accounting officer now directly owns 465,064 shares of the company’s stock, valued at approximately $4,906,425.20. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,451,618 shares of company stock worth $17,560,157. 22.68% of the stock is currently owned by company insiders.

Institutional Trading of Snap

Hedge funds and other institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new stake in Snap in the third quarter worth about $29,000. Paladin Wealth LLC bought a new stake in shares of Snap in the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. grew its stake in shares of Snap by 141.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares during the last quarter. Hollencrest Capital Management bought a new position in Snap during the 2nd quarter valued at approximately $33,000. Finally, Rothschild Investment LLC purchased a new position in Snap during the second quarter valued at $40,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Stock Up 6.5 %

SNAP stock opened at $11.97 on Wednesday. The firm has a market capitalization of $20.08 billion, a PE ratio of -20.64 and a beta of 0.97. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap has a twelve month low of $8.29 and a twelve month high of $17.75. The stock’s 50 day moving average is $11.54 and its 200-day moving average is $11.65.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm earned ($0.21) EPS. The business’s revenue for the quarter was up 15.4% compared to the same quarter last year. Sell-side analysts expect that Snap will post -0.4 EPS for the current fiscal year.

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.