Snap (NYSE:SNAP) Stock Price Expected to Rise, Loop Capital Analyst Says

Snap (NYSE:SNAP) had its price target boosted by Loop Capital from $14.00 to $16.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Loop Capital’s price target points to a potential upside of 31.26% from the stock’s previous close.

SNAP has been the subject of several other research reports. Piper Sandler reaffirmed a “neutral” rating and set a $13.00 price target (up previously from $12.00) on shares of Snap in a research note on Wednesday, October 30th. Susquehanna cut their target price on Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus reduced their price target on Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $16.00 price objective on shares of Snap in a research note on Wednesday, October 30th. Finally, Roth Mkm reissued a “neutral” rating and set a $14.00 target price on shares of Snap in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Snap has an average rating of “Hold” and a consensus target price of $14.31.

Snap Price Performance

SNAP stock traded up $0.07 during midday trading on Tuesday, reaching $12.19. 21,789,913 shares of the stock were exchanged, compared to its average volume of 27,658,547. The stock has a market capitalization of $20.23 billion, a PE ratio of -21.02 and a beta of 0.99. Snap has a 52 week low of $8.29 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The company has a fifty day moving average price of $10.23 and a 200 day moving average price of $12.73.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. As a group, analysts expect that Snap will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total value of $12,500,000.00. Following the completion of the sale, the chief technology officer now directly owns 57,210,989 shares of the company’s stock, valued at $715,137,362.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.31, for a total transaction of $221,580.00. Following the transaction, the general counsel now owns 471,058 shares of the company’s stock, valued at $5,798,723.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the sale, the chief technology officer now directly owns 57,210,989 shares of the company’s stock, valued at $715,137,362.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,365,051 shares of company stock worth $15,965,178.

Institutional Investors Weigh In On Snap

Several large investors have recently made changes to their positions in SNAP. V Square Quantitative Management LLC bought a new stake in shares of Snap in the 3rd quarter worth approximately $29,000. Paladin Wealth LLC bought a new stake in shares of Snap in the third quarter valued at $30,000. Hollencrest Capital Management purchased a new position in shares of Snap during the 2nd quarter valued at $33,000. Blue Trust Inc. grew its stake in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in Snap in the 2nd quarter worth about $40,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

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.