Snap Inc. (NYSE:SNAP) Receives $14.31 Consensus Price Target from Analysts

Shares of Snap Inc. (NYSE:SNAP) have earned a consensus rating of “Hold” from the thirty-two analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $14.31.

A number of equities research analysts have recently issued reports on SNAP shares. Argus upgraded Snap to a “hold” rating in a research report on Thursday, August 8th. The Goldman Sachs Group upped their target price on Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Stifel Nicolaus cut their target price on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Monday, October 14th. Wells Fargo & Company lowered their price target on shares of Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Finally, UBS Group upped their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th.

Snap Price Performance

Shares of NYSE SNAP opened at $10.77 on Tuesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04. The firm has a market cap of $18.06 billion, a PE ratio of -18.55 and a beta of 0.99. Snap has a one year low of $8.29 and a one year high of $17.90. The firm has a fifty day moving average of $10.60 and a 200 day moving average of $12.73.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. Snap’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.21) EPS. As a group, research analysts predict that Snap will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Friday, August 30th. The shares were sold at an average price of $9.30, for a total value of $167,400.00. Following the transaction, the general counsel now directly owns 456,662 shares of the company’s stock, valued at $4,246,956.60. The trade was a 3.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction on Thursday, October 31st. The stock was 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. This represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,221,220 shares of company stock valued at $14,659,201. 22.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snap

Several large investors have recently modified their holdings of the stock. Empowered Funds LLC raised its holdings in Snap by 37.0% during the first quarter. Empowered Funds LLC now owns 30,878 shares of the company’s stock worth $354,000 after purchasing an additional 8,338 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of Snap by 2,224.6% in the first quarter. SG Americas Securities LLC now owns 343,486 shares of the company’s stock valued at $3,943,000 after buying an additional 328,710 shares in the last quarter. Forsta AP Fonden grew its holdings in Snap by 16.2% during the first quarter. Forsta AP Fonden now owns 230,600 shares of the company’s stock worth $2,647,000 after acquiring an additional 32,200 shares during the period. Atomi Financial Group Inc. purchased a new position in Snap in the first quarter worth $293,000. Finally, Russell Investments Group Ltd. lifted its holdings in Snap by 31.9% in the first quarter. Russell Investments Group Ltd. now owns 275,539 shares of the company’s stock valued at $3,160,000 after acquiring an additional 66,694 shares during the period. 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.