Snap (NYSE:SNAP) PT Lowered to $12.00 at Stifel Nicolaus

Snap (NYSE:SNAP) had its target price trimmed by Stifel Nicolaus from $14.00 to $12.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

SNAP has been the topic of a number of other research reports. Truist Financial increased their price target on Snap from $11.00 to $12.00 and gave the stock a hold rating in a research report on Wednesday, February 7th. Rosenblatt Securities upped their target price on Snap from $11.00 to $12.00 and gave the stock a neutral rating in a report on Wednesday, February 7th. Morgan Stanley cut their price target on Snap from $13.00 to $11.00 and set an underweight rating on the stock in a report on Wednesday, February 7th. BMO Capital Markets cut their target price on Snap from $22.00 to $20.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. Finally, Piper Sandler raised their price target on shares of Snap from $12.00 to $17.00 and gave the company a neutral rating in a report on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $13.86.

Snap Stock Performance

SNAP stock opened at $11.17 on Tuesday. The firm has a market cap of $18.44 billion, a price-to-earnings ratio of -13.46 and a beta of 1.13. Snap has a twelve month low of $7.86 and a twelve month high of $17.90. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. The business’s fifty day simple moving average is $11.21 and its two-hundred day simple moving average is $12.72.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, February 6th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. Analysts predict that Snap will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the sale, the general counsel now directly owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.14, for a total transaction of $104,560.04. Following the sale, the chief accounting officer now owns 495,526 shares in the company, valued at $5,520,159.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the sale, the general counsel now directly owns 461,005 shares in the company, valued at $7,449,840.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 470,482 shares of company stock worth $5,284,091. 22.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap

Large investors have recently bought and sold shares of the business. Sowell Financial Services LLC raised its position in shares of Snap by 3.3% during the 4th quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock worth $392,000 after purchasing an additional 729 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after acquiring an additional 891 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in Snap by 7.4% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,440 shares of the company’s stock valued at $176,000 after purchasing an additional 930 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in Snap by 3.3% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock worth $533,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Impax Asset Management Group plc raised its position in shares of Snap by 4.5% in the third quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock valued at $209,000 after buying an additional 1,017 shares during the last quarter. Institutional investors and hedge funds 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.