Snap (NYSE:SNAP) PT Raised to $16.00

Snap (NYSE:SNAP) had its target price hoisted by analysts at Royal Bank of Canada from $13.00 to $16.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 9.59% from the stock’s previous close.

Several other research analysts have also weighed in on the company. BMO Capital Markets dropped their target price on Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Susquehanna upped their target price on Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Morgan Stanley dropped their target price on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 7th. Rosenblatt Securities increased their price objective on Snap from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Friday. Finally, Barclays increased their price objective on Snap from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.43.

Snap Stock Up 28.1 %

NYSE:SNAP traded up $3.20 during trading hours on Friday, hitting $14.60. 84,764,758 shares of the company’s stock traded hands, compared to its average volume of 30,880,594. The firm has a market cap of $24.10 billion, a P/E ratio of -17.36 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 debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The stock’s fifty day moving average price is $11.19 and its two-hundred day moving average price is $12.79.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. On average, research analysts expect that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Derek Andersen sold 96,953 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the completion of the transaction, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Derek Andersen sold 96,953 shares of Snap stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the transaction, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the transaction, the general counsel now directly owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The disclosure for this sale can be found here. Insiders sold a total of 470,482 shares of company stock valued at $5,284,091 in the last three months. Insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

A number of hedge funds have recently added to or reduced their stakes in SNAP. Sowell Financial Services LLC raised its holdings in shares of Snap by 3.3% in 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 period. Steward Partners Investment Advisory LLC raised its holdings in shares of Snap by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after purchasing an additional 891 shares during the period. U.S. Capital Wealth Advisors LLC raised its holdings 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 valued at $533,000 after acquiring an additional 1,000 shares during the period. Impax Asset Management Group plc raised its holdings in Snap by 4.5% during the 3rd quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock valued at $209,000 after acquiring an additional 1,017 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Snap by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock valued at $137,000 after acquiring an additional 1,025 shares during the period. 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.