Snap (NYSE:SNAP) Price Target Increased to $15.00 by Analysts at Susquehanna

Snap (NYSE:SNAP) had its target price hoisted by investment analysts at Susquehanna from $12.00 to $15.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s target price would indicate a potential downside of 0.40% from the stock’s current price.

SNAP has been the topic of several other research reports. BMO Capital Markets reduced their price target on shares of Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft raised shares of Snap from a “hold” rating to a “buy” rating and increased their price target for the company from $10.00 to $19.00 in a report on Friday, January 26th. HSBC upgraded Snap from a “reduce” rating to a “buy” rating in a research report on Friday, April 26th. Evercore ISI increased their price target on Snap from $13.00 to $14.00 and gave the company an “in-line” rating in a report on Friday, April 26th. Finally, Raymond James restated an “outperform” rating and issued a $16.00 price target (up from $15.00) on shares of Snap in a research report on Friday, April 26th. Two investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $14.79.

Snap Trading Up 3.9 %

Shares of SNAP opened at $15.06 on Monday. Snap has a 1 year low of $7.86 and a 1 year high of $17.90. The company has a 50 day simple moving average of $11.41 and a two-hundred day simple moving average of $12.97. 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 $24.86 billion, a P/E ratio of -18.59 and a beta of 1.13.

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

Insider Activity at Snap

In other Snap news, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the transaction, the chief accounting officer now owns 495,526 shares in the company, valued at $5,520,159.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Evan Spiegel sold 150,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 3,627,844 shares of the company’s stock, valued at approximately $40,305,346.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the sale, the chief accounting officer now directly owns 495,526 shares of the company’s stock, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. Insiders have sold a total of 457,482 shares of company stock valued at $5,074,011 over the last ninety days.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently modified their holdings of the stock. NBC Securities Inc. increased its position in shares of Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after acquiring an additional 1,445 shares during the period. Allworth Financial LP grew its stake in Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Snap in the fourth quarter valued at about $51,000. Rakuten Securities Inc. purchased a new position in shares of Snap in the fourth quarter worth about $73,000. Finally, Westpac Banking Corp lifted its holdings in shares of Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after purchasing an additional 2,506 shares during the period. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.