Snap (NYSE:SNAP – Get Free Report) had its target price lowered by investment analysts at Stifel Nicolaus from $14.00 to $12.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 10.09% from the company’s current price.
Other equities analysts also recently issued reports about the company. Piper Sandler lifted their target price on Snap from $12.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Susquehanna lifted their target price on Snap from $9.50 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Truist Financial lifted their target price on Snap from $11.00 to $12.00 and gave the company a “hold” rating in a research report on Wednesday, February 7th. Morgan Stanley lowered their price objective on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Wednesday, February 7th. Finally, Rosenblatt Securities boosted their price objective on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $13.86.
View Our Latest Report on Snap
Snap Stock Up 4.7 %
Snap (NYSE:SNAP – Get Free Report) last released its earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.39 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. Sell-side analysts expect that Snap will post -0.58 EPS for the current year.
Insider Buying and Selling at Snap
In other Snap news, CAO Rebecca Morrow sold 2,442 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares in the company, valued at $5,423,924. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Snap news, CAO Rebecca Morrow sold 2,442 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares in the company, valued at $5,423,924. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Eric Young sold 120,472 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the sale, the senior vice president now owns 3,540,852 shares of the company’s stock, valued at approximately $39,409,682.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 470,054 shares of company stock worth $5,279,729.
Institutional Investors Weigh In On Snap
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Snap by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after acquiring an additional 3,503,230 shares during the period. SRS Investment Management LLC raised its position in Snap by 23.6% in the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after acquiring an additional 12,452,415 shares in the last quarter. Capital World Investors raised its position in Snap by 0.6% in the fourth quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock worth $776,868,000 after acquiring an additional 274,176 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Snap by 28.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,959,640 shares of the company’s stock worth $320,988,000 after acquiring an additional 4,243,620 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Snap by 95.8% in the first quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock worth $641,028,000 after acquiring an additional 8,712,380 shares in the last quarter. Hedge funds and other 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.
Featured Stories
- Five stocks we like better than Snap
- Buy P&G Now, Before It Sets A New All-Time High
- United Airlines Soars on Earnings Beat
- Asset Allocation: The Key to a Successful Portfolio. Are You Paying Attention to Yours?
- J.B. Hunt Hits the Skids: Lower Prices to Come
- NYSE Stocks Give Investors a Variety of Quality OptionsĀ
- Predicting a Bear Market: 7 Signs and Why it’s Tough to Do
Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.