Stifel Nicolaus Raises Snap (NYSE:SNAP) Price Target to $13.00

Snap (NYSE:SNAP) had its price objective hoisted by analysts at Stifel Nicolaus from $12.00 to $13.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential downside of 10.65% from the stock’s previous close.

A number of other research firms also recently weighed in on SNAP. BMO Capital Markets dropped their price target on Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Piper Sandler upped their price target on Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Morgan Stanley dropped their price target on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft raised Snap from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.00 to $19.00 in a research note on Friday, January 26th. Finally, Truist Financial boosted their price objective on Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Snap presently has an average rating of “Hold” and an average target price of $14.67.

Snap Stock Up 27.6 %

Shares of NYSE:SNAP opened at $14.55 on Friday. The company has a market capitalization of $24.02 billion, a price-to-earnings ratio of -17.96 and a beta of 1.13. 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 business’s 50-day moving average is $11.26 and its 200-day moving average is $12.86. Snap has a 1 year low of $7.86 and a 1 year high of $17.90.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. Equities research analysts predict that Snap will post -0.58 earnings per share for the current year.

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 9,386 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.14, for a total transaction of $104,560.04. Following the completion of the transaction, the chief accounting officer now directly owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Snap news, CEO Evan Spiegel sold 150,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the completion of the transaction, the chief executive officer now directly owns 3,627,844 shares of the company’s stock, valued at $40,305,346.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Rebecca Morrow sold 9,386 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the sale, the chief accounting officer now owns 495,526 shares in the company, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 470,482 shares of company stock valued at $5,284,091. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Several institutional investors have recently made changes to their positions in SNAP. NBC Securities Inc. lifted its position in shares of Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after acquiring an additional 1,445 shares in the last quarter. Allworth Financial LP lifted its position in shares of Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after acquiring an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Snap during the fourth quarter worth $51,000. Rakuten Securities Inc. purchased a new stake in shares of Snap in the fourth quarter worth $73,000. Finally, Westpac Banking Corp raised its position in shares of Snap by 108.7% in the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after buying an additional 2,506 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.