Susquehanna Boosts Snap (NYSE:SNAP) Price Target to $13.00

Snap (NYSE:SNAP) had its price target lifted by stock analysts at Susquehanna from $12.00 to $13.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s price target would indicate a potential upside of 21.78% from the stock’s current price.

A number of other analysts also recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $640.00 target price on shares of Snap in a research note on Thursday, December 5th. 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. Wells Fargo & Company cut shares of Snap from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $15.00 to $11.00 in a research note on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and set a $16.00 price target (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $16.00 price objective on shares of Snap in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $36.87.

Snap Price Performance

NYSE:SNAP opened at $10.68 on Wednesday. The stock has a 50 day moving average of $11.51 and a two-hundred day moving average of $10.89. Snap has a 12 month low of $8.29 and a 12 month high of $17.33. The firm has a market cap of $17.90 billion, a P/E ratio of -18.40 and a beta of 0.99. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. On average, analysts expect that Snap will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Rebecca Morrow sold 11,154 shares of the business’s stock in a transaction on Monday, November 18th. The shares were 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 owns 465,064 shares in the company, valued at approximately $4,906,425.20. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Derek Andersen sold 94,164 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the sale, the chief financial officer now owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. This represents a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 445,184 shares of company stock worth $4,968,189 in the last quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SNAP. Charles Schwab Investment Management Inc. lifted its stake in Snap by 62.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock worth $66,462,000 after purchasing an additional 2,386,519 shares during the last quarter. TB Alternative Assets Ltd. raised its holdings in Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock worth $85,406,000 after purchasing an additional 4,098,847 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of Snap during the 3rd quarter worth approximately $1,345,000. Invenomic Capital Management LP acquired a new position in shares of Snap in the 3rd quarter valued at $2,349,000. Finally, Dynamic Advisor Solutions LLC purchased a new position in shares of Snap in the 3rd quarter valued at $832,000. Hedge funds and other institutional investors 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.