Snap (NYSE:SNAP) Price Target Raised to $17.00 at Barclays

Snap (NYSE:SNAP) had its price target raised by Barclays from $15.00 to $17.00 in a research report report published on Friday, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities analysts have also recently issued reports on the stock. The Goldman Sachs Group reduced their price target on shares of Snap from $15.00 to $13.50 and set a neutral rating on the stock in a research report on Thursday, February 8th. Piper Sandler raised their target price 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. Royal Bank of Canada lowered their target price on shares of Snap from $17.00 to $13.00 and set a sector perform rating for the company in a report on Wednesday, February 7th. Roth Mkm restated a neutral rating and issued a $14.00 price target on shares of Snap in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised Snap from a hold rating to a buy rating and raised their price objective for the company from $10.00 to $19.00 in a research report on Friday, January 26th. 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 stock. According to data from MarketBeat.com, Snap has a consensus rating of Hold and an average price target of $14.67.

Snap Stock Up 27.5 %

Shares of Snap stock opened at $14.53 on Friday. Snap has a 52-week low of $7.86 and a 52-week high of $17.90. The stock has a market capitalization of $23.98 billion, a price-to-earnings ratio of -17.94 and a beta of 1.13. 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 company’s 50 day moving average price is $11.26 and its 200-day moving average price is $12.84.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) 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 analysts’ expectations of $1.12 billion. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. Equities research analysts forecast that Snap will post -0.58 EPS for the current year.

Insider Activity at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s 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 sale, the general counsel now owns 461,005 shares in the company, valued at $7,449,840.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the transaction, the general counsel now directly owns 461,005 shares in the company, valued at approximately $7,449,840.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 495,526 shares in the company, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 470,482 shares of company stock worth $5,284,091. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently bought and sold shares of SNAP. HCR Wealth Advisors lifted its position in shares of Snap by 10.0% in the third quarter. HCR Wealth Advisors now owns 23,162 shares of the company’s stock valued at $206,000 after acquiring an additional 2,098 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in Snap by 7.6% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 191,542 shares of the company’s stock valued at $1,707,000 after purchasing an additional 13,500 shares during the period. Compass Advisory Group LLC lifted its holdings in Snap by 13.2% in the 3rd quarter. Compass Advisory Group LLC now owns 13,678 shares of the company’s stock worth $122,000 after purchasing an additional 1,591 shares in the last quarter. Avaii Wealth Management LLC raised its position in shares of Snap by 24.2% during the third quarter. Avaii Wealth Management LLC now owns 15,819 shares of the company’s stock valued at $141,000 after buying an additional 3,080 shares during the last quarter. Finally, Forsta AP Fonden lifted its holdings in shares of Snap by 3.6% in the third quarter. Forsta AP Fonden now owns 238,700 shares of the company’s stock worth $2,127,000 after buying an additional 8,400 shares in the last quarter. Hedge funds and other 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.