Snap (NYSE:SNAP) PT Raised to $12.00 at Morgan Stanley

Snap (NYSE:SNAP) had its price objective hoisted by Morgan Stanley from $11.00 to $12.00 in a report issued on Friday, Benzinga reports. They currently have an underweight rating on the stock.

Several other equities analysts have also issued reports on the company. BMO Capital Markets cut their price target on Snap from $22.00 to $20.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. Piper Sandler upped their target price on shares of Snap from $12.00 to $17.00 and gave the company a neutral rating in a research report on Wednesday, January 17th. Stifel Nicolaus lifted their price target on shares of Snap from $12.00 to $13.00 and gave the stock a hold rating in a research report on Friday. Canaccord Genuity Group increased their price objective on shares of Snap from $14.00 to $15.00 and gave the company a hold rating in a report on Friday. Finally, Susquehanna raised their price objective on shares of Snap from $9.50 to $12.00 and gave the company a neutral rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $14.79.

Snap Trading Down 0.4 %

SNAP opened at $14.49 on Friday. Snap has a 1-year low of $7.86 and a 1-year high of $17.90. The stock has a market capitalization of $23.92 billion, a PE ratio of -17.89 and a beta of 1.13. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. The firm has a 50-day moving average price of $11.33 and a two-hundred day moving average price of $12.93.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative net margin of 26.99% and a negative return on equity of 45.02%. The business had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. As a group, equities analysts anticipate that Snap will post -0.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the sale, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the sale, the general counsel now directly owns 474,812 shares in the company, valued at approximately $5,474,582.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Young sold 120,472 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the transaction, the senior vice president now owns 3,540,852 shares of the company’s stock, valued at $39,409,682.76. 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 quarter. 22.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Snap

A number of institutional investors and hedge funds have recently made changes to their positions in SNAP. Sowell Financial Services LLC increased its holdings in Snap by 3.3% during the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock worth $392,000 after buying an additional 729 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position 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 valued at $698,000 after acquiring an additional 891 shares during the period. U.S. Capital Wealth Advisors LLC increased its stake in shares of Snap by 3.3% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock worth $533,000 after purchasing an additional 1,000 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Snap by 4.5% in the 3rd quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock valued at $209,000 after purchasing an additional 1,017 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Snap by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock valued at $137,000 after purchasing an additional 1,025 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.