Snap (NYSE:SNAP) Given New $15.00 Price Target at Wells Fargo & Company

Snap (NYSE:SNAP) had its target price boosted by Wells Fargo & Company from $14.00 to $15.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald raised their price target on Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $16.00 target price on shares of Snap in a research note on Wednesday, October 30th. Citigroup increased their price target on shares of Snap from $11.00 to $13.00 and gave the stock a “neutral” rating in a research note on Friday, November 29th. B. Riley lifted their price objective on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, 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. One analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.13.

Snap Trading Down 2.6 %

NYSE:SNAP opened at $12.15 on Monday. The stock has a market cap of $20.38 billion, a PE ratio of -20.95 and a beta of 0.98. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.50. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The stock’s 50-day moving average is $11.59 and its two-hundred day moving average is $11.47.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating 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 posted ($0.21) earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. As a group, equities research analysts forecast that Snap will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Eric Young sold 50,000 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $10.54, for a total value of $527,000.00. Following the transaction, the senior vice president now owns 752,110 shares of the company’s stock, valued at approximately $7,927,239.40. This trade represents a 6.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.54, for a total value of $129,800.10. Following the completion of the transaction, the general counsel now directly owns 1,195,567 shares in the company, valued at approximately $12,601,276.18. This trade represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,451,618 shares of company stock valued at $17,560,157 over the last ninety days. 22.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap

Hedge funds have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in Snap during the third quarter worth about $29,000. Paladin Wealth LLC acquired a new stake in shares of Snap during the third quarter worth about $30,000. Advisors Asset Management Inc. raised its position in shares of Snap by 141.9% during the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after purchasing an additional 1,632 shares during the period. Hollencrest Capital Management acquired a new position in shares of Snap in the 2nd quarter valued at approximately $33,000. Finally, Brooklyn Investment Group bought a new stake in Snap during the 3rd quarter worth approximately $41,000. 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.