Snap (NYSE:SNAP) Stock Price Expected to Rise, Citigroup Analyst Says

Snap (NYSE:SNAP) had its price target boosted by equities research analysts at Citigroup from $13.00 to $13.50 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective would indicate a potential upside of 26.46% from the stock’s current price.

SNAP has been the topic of several other reports. Wells Fargo & Company downgraded Snap from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $15.00 to $11.00 in a research report on Wednesday. Canaccord Genuity Group increased their target price on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday, October 30th. Guggenheim reiterated a “buy” rating and set a $12.11 target price on shares of Snap in a research report on Tuesday, December 3rd. Loop Capital increased their target price on Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, B. Riley increased their target price on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $36.87.

Snap Stock Up 0.4 %

Shares of NYSE:SNAP opened at $10.68 on Wednesday. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap has a 52-week low of $8.29 and a 52-week high of $17.33. The stock’s fifty day simple moving average is $11.51 and its 200-day simple moving average is $10.89. The company has a market capitalization of $17.90 billion, a P/E ratio of -18.40 and a beta of 0.99.

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

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 2,812 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the sale, the chief accounting officer now owns 430,252 shares in the company, valued at $4,922,082.88. This trade represents a 0.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Young sold 112,020 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00. Following the sale, the senior vice president now owns 2,791,048 shares of the company’s stock, valued at approximately $29,445,556.40. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 445,184 shares of company stock worth $4,968,189 in the last 90 days.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SNAP. V Square Quantitative Management LLC bought a new position in Snap during the 3rd quarter worth approximately $29,000. Paladin Wealth LLC bought a new position in Snap during the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. lifted its holdings in Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company’s stock worth $30,000 after buying an additional 1,632 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in Snap during the 4th quarter worth approximately $32,000. Finally, Brooklyn Investment Group bought a new position in Snap during the 3rd quarter worth approximately $41,000. Institutional investors own 47.52% of the company’s stock.

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.