Snap Inc. (NYSE:SNAP) Receives $36.87 Average Price Target from Analysts

Shares of Snap Inc. (NYSE:SNAP) have received a consensus rating of “Hold” from the thirty-three ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, twenty-five have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $36.87.

SNAP has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $16.00 price target on shares of Snap in a research note on Monday, January 27th. Barclays reiterated an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Bank of America increased their price target on shares of Snap from $14.00 to $14.50 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Wells Fargo & Company downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $15.00 to $11.00 in a report on Wednesday, February 5th. Finally, Guggenheim downgraded shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, February 11th.

Snap Price Performance

Shares of NYSE:SNAP opened at $9.06 on Monday. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.33. The firm has a 50-day simple moving average of $10.56 and a 200 day simple moving average of $10.80. The company has a market cap of $15.36 billion, a PE ratio of -21.56 and a beta of 0.92.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. On average, sell-side analysts anticipate that Snap will post -0.3 EPS for the current year.

Insider Buying and Selling at Snap

In other news, CAO Rebecca Morrow sold 8,837 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the transaction, the chief accounting officer now owns 429,892 shares of the company’s stock, valued at approximately $4,660,029.28. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the completion of the transaction, the chief technology officer now directly owns 55,818,548 shares in the company, valued at $504,599,673.92. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,350,523 shares of company stock worth $12,698,797. 22.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Snap by 19.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 17,115 shares of the company’s stock worth $184,000 after acquiring an additional 2,792 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in Snap during the 4th quarter worth approximately $3,838,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Snap in the fourth quarter valued at approximately $5,135,000. B. Riley Wealth Advisors Inc. acquired a new position in shares of Snap in the fourth quarter valued at approximately $225,000. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Snap in the fourth quarter valued at approximately $4,924,000. Institutional investors own 47.52% of the company’s stock.

Snap Company Profile

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.