Snap (SNAP) – Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for Snap (NYSE: SNAP):

  • 2/8/2024 – Snap had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $15.00 to $13.50. They now have a “neutral” rating on the stock.
  • 2/7/2024 – Snap had its price target lowered by analysts at Morgan Stanley from $13.00 to $11.00. They now have an “underweight” rating on the stock.
  • 2/7/2024 – Snap had its price target lowered by analysts at Royal Bank of Canada from $17.00 to $13.00. They now have a “sector perform” rating on the stock.
  • 2/7/2024 – Snap had its price target lowered by analysts at Wells Fargo & Company from $22.00 to $16.00. They now have an “overweight” rating on the stock.
  • 2/7/2024 – Snap had its price target lowered by analysts at BMO Capital Markets from $22.00 to $20.00. They now have an “outperform” rating on the stock.
  • 2/7/2024 – Snap had its price target raised by analysts at Susquehanna from $9.50 to $12.00. They now have a “neutral” rating on the stock.
  • 2/7/2024 – Snap had its price target raised by analysts at Rosenblatt Securities from $11.00 to $12.00. They now have a “neutral” rating on the stock.
  • 2/7/2024 – Snap had its price target raised by analysts at Truist Financial Co. from $11.00 to $12.00. They now have a “hold” rating on the stock.
  • 1/26/2024 – Snap had its price target raised by analysts at Roth Mkm from $10.00 to $14.00. They now have a “neutral” rating on the stock.
  • 1/26/2024 – Snap was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating. They now have a $19.00 price target on the stock, up previously from $10.00.
  • 1/17/2024 – Snap had its price target raised by analysts at Piper Sandler from $12.00 to $17.00. They now have a “neutral” rating on the stock.
  • 1/9/2024 – Snap is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $22.00 price target on the stock.
  • 1/9/2024 – Snap had its price target raised by analysts at Stifel Nicolaus from $10.00 to $14.00. They now have a “hold” rating on the stock.
  • 12/18/2023 – Snap was upgraded by analysts at Guggenheim from a “neutral” rating to a “buy” rating. They now have a $23.00 price target on the stock, up previously from $9.00.

Snap Price Performance

NYSE SNAP opened at $11.11 on Monday. Snap Inc. has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The stock’s 50-day moving average is $16.08 and its two-hundred day moving average is $12.22. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The firm has a market cap of $18.29 billion, a P/E ratio of -13.39 and a beta of 1.28.

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 1,792 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $17.13, for a total transaction of $30,696.96. Following the transaction, the chief accounting officer now directly owns 307,026 shares in the company, valued at $5,259,355.38. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Derek Andersen sold 10,047 shares of Snap stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $12.15, for a total transaction of $122,071.05. Following the sale, the chief financial officer now directly owns 2,333,483 shares of the company’s stock, valued at $28,351,818.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Rebecca Morrow sold 1,792 shares of the firm’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $17.13, for a total transaction of $30,696.96. Following the transaction, the chief accounting officer now owns 307,026 shares of the company’s stock, valued at approximately $5,259,355.38. The disclosure for this sale can be found here. Insiders have sold a total of 276,589 shares of company stock worth $3,796,543 over the last three months.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SNAP. Acadian Asset Management LLC raised its stake in shares of Snap by 72.6% in the first quarter. Acadian Asset Management LLC now owns 8,456 shares of the company’s stock valued at $304,000 after acquiring an additional 3,556 shares during the last quarter. Raymond James Trust N.A. raised its position in Snap by 28.6% in the 1st quarter. Raymond James Trust N.A. now owns 8,708 shares of the company’s stock worth $313,000 after purchasing an additional 1,936 shares during the last quarter. Cibc World Market Inc. lifted its holdings in Snap by 9.4% during the 1st quarter. Cibc World Market Inc. now owns 23,977 shares of the company’s stock worth $863,000 after buying an additional 2,061 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Snap by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 786,417 shares of the company’s stock worth $28,305,000 after buying an additional 5,182 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in Snap during the 1st quarter worth $3,216,000. Institutional investors own 44.37% of the company’s stock.

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.

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