Snap (NYSE:SNAP) PT Raised to $47.00 at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell

Snap (NYSE:SNAP) had its price target hoisted by equities researchers at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $40.00 to $47.00 in a report released on Tuesday, Stock Target Advisor reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s price target indicates a potential downside of 15.97% from the stock’s previous close.

SNAP has been the subject of several other research reports. Piper Sandler boosted their price target on shares of Snap from $66.00 to $83.00 and gave the stock an “overweight” rating in a report on Tuesday, March 2nd. Evercore ISI reaffirmed a “buy” rating on shares of Snap in a report on Sunday, April 25th. Canaccord Genuity increased their price objective on Snap from $62.00 to $76.00 and gave the company a “hold” rating in a report on Tuesday, March 2nd. Oppenheimer boosted their target price on Snap from $70.00 to $82.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 24th. Finally, Barclays increased their price target on shares of Snap from $66.00 to $75.00 in a research note on Friday, April 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirty have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $67.33.

SNAP traded down $3.24 on Tuesday, hitting $55.93. 1,840,409 shares of the company were exchanged, compared to its average volume of 24,168,006. The firm has a 50-day moving average price of $58.66 and a two-hundred day moving average price of $52.90. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.75. Snap has a twelve month low of $16.42 and a twelve month high of $73.59. The company has a market cap of $85.21 billion, a price-to-earnings ratio of -73.47 and a beta of 1.29.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, April 22nd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.02. Snap had a negative return on equity of 48.53% and a negative net margin of 49.74%. The business had revenue of $769.58 million during the quarter, compared to analysts’ expectations of $739.61 million. During the same quarter last year, the business posted ($0.08) EPS. The business’s quarterly revenue was up 66.4% compared to the same quarter last year. Equities analysts expect that Snap will post -0.64 EPS for the current year.

In other Snap news, Director Joanna Coles sold 2,201 shares of the firm’s stock in a transaction on Wednesday, April 14th. The stock was sold at an average price of $64.16, for a total value of $141,216.16. Following the completion of the sale, the director now owns 47,604 shares of the company’s stock, valued at $3,054,272.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jerry James Hunter sold 47,505 shares of the business’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $62.46, for a total transaction of $2,967,162.30. Following the sale, the vice president now owns 1,873,673 shares in the company, valued at $117,029,615.58. The disclosure for this sale can be found here. Insiders have sold a total of 1,469,463 shares of company stock worth $88,079,591 in the last quarter.

A number of hedge funds have recently added to or reduced their stakes in SNAP. Capital Asset Advisory Services LLC purchased a new position in Snap in the fourth quarter valued at about $25,000. Riggs Asset Managment Co. Inc. acquired a new stake in shares of Snap in the 4th quarter worth approximately $25,000. Private Capital Group LLC increased its stake in Snap by 200.0% in the 1st quarter. Private Capital Group LLC now owns 540 shares of the company’s stock valued at $28,000 after purchasing an additional 360 shares in the last quarter. Joseph P. Lucia & Associates LLC acquired a new position in Snap during the fourth quarter worth $31,000. Finally, Arlington Partners LLC boosted its position in Snap by 43.8% during the fourth quarter. Arlington Partners LLC now owns 719 shares of the company’s stock worth $36,000 after purchasing an additional 219 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures video from a human perspective; and advertising products, including AR and Snap ads.

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