Raymond James Reaffirms Outperform Rating for Snap (NYSE:SNAP)

Raymond James reiterated their outperform rating on shares of Snap (NYSE:SNAP) in a research report report published on Friday morning, Benzinga reports. The firm currently has a $16.00 price objective on the stock, up from their prior price objective of $15.00.

SNAP has been the subject of a number of other research reports. Evercore ISI raised their price target on shares of Snap from $13.00 to $14.00 and gave the stock an in-line rating in a research report on Friday. Roth Mkm reissued a neutral rating and set a $14.00 price objective on shares of Snap in a report on Tuesday, April 23rd. The Goldman Sachs Group upped their target price on shares of Snap from $13.50 to $16.00 and gave the company a neutral rating in a research note on Friday. Stifel Nicolaus lifted their price target on Snap from $12.00 to $13.00 and gave the stock a hold rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft upgraded Snap from a hold rating to a buy rating and upped their price objective for the company from $10.00 to $19.00 in a research note 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 MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $14.79.

Snap Stock Performance

Shares of SNAP stock opened at $14.49 on Friday. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The company’s fifty day moving average price is $11.33 and its two-hundred day moving average price is $12.93. The firm has a market capitalization of $23.92 billion, a P/E ratio of -17.89 and a beta of 1.13. Snap has a 12 month low of $7.86 and a 12 month high of $17.90.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The business 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 45.02% and a negative net margin of 26.99%. On average, research analysts anticipate that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap 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 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 Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction on 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 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 SEC, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the sale, the general counsel now owns 474,812 shares in the company, valued at $5,474,582.36. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock valued at $5,284,091 in the last ninety days. Company insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. NBC Securities Inc. raised its holdings in Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after purchasing an additional 1,445 shares in the last quarter. Allworth Financial LP raised its stake in shares of Snap by 161.6% in the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after buying an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Snap in the fourth quarter valued at $51,000. Rakuten Securities Inc. bought a new position in Snap during the fourth quarter valued at about $73,000. Finally, Westpac Banking Corp grew its holdings in Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after acquiring an additional 2,506 shares during the period. 47.52% of the stock is currently owned by institutional investors.

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.