Analysts Set Snap Inc. (NYSE:SNAP) PT at $36.87

Snap Inc. (NYSE:SNAP) has been assigned an average rating of “Hold” from the thirty-three analysts that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $36.87.

SNAP has been the topic of a number of recent analyst reports. Wells Fargo & Company cut Snap from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $15.00 to $11.00 in a report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price target on Snap from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and set a $640.00 price target on shares of Snap in a research note on Thursday, December 5th. Bank of America upped their price target on Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Finally, BMO Capital Markets restated an “outperform” rating and set a $16.00 price target (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th.

Snap Price Performance

SNAP stock opened at $9.06 on Monday. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The business has a 50 day simple moving average of $10.56 and a 200-day simple moving average of $10.80. The firm has a market capitalization of $15.36 billion, a PE ratio of -21.56 and a beta of 0.92. Snap has a 1 year low of $8.29 and a 1 year high of $17.33.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. Equities research analysts anticipate that Snap will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other Snap news, CAO Rebecca Morrow sold 8,837 shares of Snap stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the transaction, the chief accounting officer now owns 429,892 shares in the company, valued at $4,660,029.28. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the transaction, the chief technology officer now owns 55,818,548 shares in the company, valued at approximately $504,599,673.92. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,350,523 shares of company stock worth $12,698,797. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently made changes to their positions in SNAP. Checchi Capital Advisers LLC lifted its holdings in Snap by 3.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company’s stock worth $335,000 after buying an additional 901 shares in the last quarter. HCR Wealth Advisors lifted its holdings in Snap by 3.9% in the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company’s stock worth $269,000 after buying an additional 934 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Snap by 8.0% in the 4th quarter. Captrust Financial Advisors now owns 13,918 shares of the company’s stock worth $150,000 after buying an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Snap by 1.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company’s stock worth $661,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock worth $384,000 after purchasing an additional 1,055 shares during the last quarter. Institutional investors and hedge funds 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.