Snap Inc. (NYSE:SNAP) Receives $37.10 Average Price Target from Analysts

Shares of Snap Inc. (NYSE:SNAP) have earned a consensus rating of “Hold” from the thirty-two analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.10.

SNAP has been the topic of a number of research analyst reports. Canaccord Genuity Group boosted their price objective on shares of Snap from $12.00 to $13.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Truist Financial boosted their price target on Snap from $13.00 to $14.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. B. Riley raised their price objective on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Stifel Nicolaus dropped their target price on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Finally, Loop Capital raised their price target on shares of Snap from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th.

Insider Buying and Selling at Snap

In related news, SVP Eric Young sold 112,020 shares of Snap stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the transaction, the senior vice president now owns 2,791,048 shares in the company, valued at approximately $29,445,556.40. This trade represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Rebecca Morrow sold 11,154 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the sale, the chief accounting officer now owns 465,064 shares of the company’s stock, valued at approximately $4,906,425.20. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,451,618 shares of company stock worth $17,560,157. Corporate insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in Snap by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 1,558,268 shares of the company’s stock worth $25,883,000 after acquiring an additional 27,673 shares during the period. Rothschild Investment LLC acquired a new stake in shares of Snap during the 2nd quarter worth about $40,000. Concurrent Investment Advisors LLC raised its holdings in Snap by 4.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after buying an additional 1,048 shares during the period. CIBC Asset Management Inc lifted its position in Snap by 41.1% in the second quarter. CIBC Asset Management Inc now owns 45,322 shares of the company’s stock valued at $753,000 after buying an additional 13,208 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in Snap by 2.1% during the second quarter. TD Asset Management Inc now owns 167,755 shares of the company’s stock worth $2,786,000 after buying an additional 3,376 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap Stock Up 6.5 %

Shares of SNAP stock opened at $11.97 on Wednesday. The stock’s fifty day moving average price is $11.54 and its 200 day moving average price is $11.63. Snap has a 1-year low of $8.29 and a 1-year high of $17.75. The company has a market cap of $20.08 billion, a price-to-earnings ratio of -20.64 and a beta of 0.98. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.21) earnings per share. On average, research analysts expect that Snap will post -0.4 earnings per share for the current fiscal year.

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.