Stifel Nicolaus Lowers Snap (NYSE:SNAP) Price Target to $11.00

Snap (NYSE:SNAP) had its target price lowered by analysts at Stifel Nicolaus from $13.00 to $11.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target points to a potential downside of 0.41% from the company’s current price.

A number of other equities research analysts have also issued reports on SNAP. Wolfe Research assumed coverage on Snap in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Wells Fargo & Company cut their price target on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Barclays cut their price target on Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Truist Financial cut 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. Finally, Bank of America cut their price target on Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.77.

Snap Price Performance

Shares of SNAP opened at $11.05 on Monday. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The firm has a market cap of $18.13 billion, a PE ratio of -13.64 and a beta of 1.01. Snap has a 1-year low of $8.29 and a 1-year high of $17.90. The firm has a fifty day simple moving average of $9.68 and a two-hundred day simple moving average of $12.74.

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

Insider Buying and Selling

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction that occurred 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 approximately $508,832,634.97. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Eric Young sold 114,097 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction 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 approximately $27,710,096.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 in the company, valued at approximately $508,832,634.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,510,352 shares of company stock valued at $13,446,353 in the last ninety days. 22.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap

Several institutional investors have recently bought and sold shares of SNAP. Paladin Wealth LLC purchased a new position in Snap during the third quarter valued at approximately $30,000. Hollencrest Capital Management acquired a new stake in Snap in the second quarter valued at approximately $33,000. Blue Trust Inc. boosted its stake in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after acquiring an additional 1,682 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Snap in the second quarter valued at approximately $40,000. Finally, J.Safra Asset Management Corp boosted its stake in Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after acquiring an additional 2,330 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.