Snap (NYSE:SNAP) Price Target Increased to $14.00 by Analysts at TD Cowen

Snap (NYSE:SNAP) had its price target hoisted by TD Cowen from $11.00 to $14.00 in a report published on Friday morning, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other brokerages have also commented on SNAP. Benchmark reissued a hold rating on shares of Snap in a research report on Friday. Susquehanna upped their price target on shares of Snap from $9.50 to $12.00 and gave the stock a neutral rating in a research report on Wednesday, February 7th. UBS Group dropped their price target on shares of Snap from $14.00 to $13.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. The Goldman Sachs Group upped their price objective on shares of Snap from $13.50 to $16.00 and gave the company a neutral rating in a report on Friday. Finally, Morgan Stanley upped their price objective on shares of Snap from $11.00 to $12.00 and gave the company an underweight rating in a report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $14.67.

Snap Stock Up 27.5 %

Snap stock opened at $14.53 on Friday. The stock has a market capitalization of $23.98 billion, a PE ratio of -17.94 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 company has a 50 day moving average of $11.26 and a 200-day moving average of $12.84.

Snap (NYSE:SNAP) last released 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 company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 45.02%. On average, equities research analysts anticipate that Snap will post -0.58 EPS for the current fiscal year.

Insider Transactions at Snap

In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the 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 completion of the transaction, the general counsel now owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the transaction, the general counsel now owns 474,812 shares of the company’s stock, valued at approximately $5,474,582.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 470,482 shares of company stock valued at $5,284,091. 22.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SNAP. NBC Securities Inc. raised its holdings in Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after buying an additional 1,445 shares during the last quarter. Allworth Financial LP raised its holdings in Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Snap during the 4th quarter worth approximately $51,000. Rakuten Securities Inc. bought a new position in Snap during the 4th quarter worth approximately $73,000. Finally, Westpac Banking Corp raised its holdings in Snap by 108.7% during the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after purchasing an additional 2,506 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

About Snap

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.