Wells Fargo & Company Increases Snap (NYSE:SNAP) Price Target to $18.00

Snap (NYSE:SNAP) had its price objective upped by Wells Fargo & Company from $16.00 to $18.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target points to a potential upside of 23.29% from the company’s current price.

SNAP has been the topic of a number of other research reports. Piper Sandler lifted their price target on shares of Snap from $12.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. BMO Capital Markets cut their price target on shares of Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Evercore ISI lifted their price target on shares of Snap from $13.00 to $14.00 and gave the company an “in-line” rating in a research note on Friday. Benchmark reaffirmed a “hold” rating on shares of Snap in a research note on Friday. Finally, Roth Mkm reaffirmed a “neutral” rating and issued a $14.00 price target on shares of Snap in a research note on Tuesday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.67.

Snap Trading Up 28.1 %

NYSE SNAP traded up $3.20 during trading on Friday, reaching $14.60. 109,326,296 shares of the stock traded hands, compared to its average volume of 31,199,594. The firm has a market cap of $24.10 billion, a price-to-earnings ratio of -17.55 and a beta of 1.13. The stock’s 50-day moving average price is $11.19 and its 200 day moving average price is $12.79. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Analysts predict that Snap will post -0.58 EPS for the current year.

Insider Buying and Selling at Snap

In other Snap news, SVP Eric Young sold 120,472 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.13, for a total value of $1,340,853.36. Following the transaction, the senior vice president now directly owns 3,540,852 shares in the company, valued at $39,409,682.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the transaction, the general counsel now directly owns 461,005 shares in the company, valued at $7,449,840.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Eric Young sold 120,472 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the completion of the transaction, the senior vice president now owns 3,540,852 shares in the company, valued at $39,409,682.76. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock worth $5,284,091 over the last ninety days. Insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several institutional investors and hedge funds have recently modified their holdings of the business. Sowell Financial Services LLC grew its stake in shares of Snap by 3.3% in the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock valued at $392,000 after acquiring an additional 729 shares in the last quarter. Steward Partners Investment Advisory LLC grew 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 valued at $698,000 after acquiring an additional 891 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of Snap by 3.3% in the fourth 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 in the last quarter. Impax Asset Management Group plc grew its stake 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 acquiring an additional 1,017 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Snap by 7.1% during the third quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock worth $137,000 after buying an additional 1,025 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.