The Goldman Sachs Group downgraded shares of Snap (NYSE:SNAP – Get Rating) from a buy rating to a neutral rating in a research report released on Wednesday morning. They currently have $12.00 price target on the stock, down from their previous price target of $25.00.
A number of other equities research analysts have also recently issued reports on the company. Evercore ISI reduced their price objective on Snap from $36.00 to $26.00 and set an outperform rating for the company in a report on Thursday, July 7th. Susquehanna Bancshares cut their price target on Snap from $14.00 to $11.00 and set a neutral rating for the company in a research note on Friday, July 22nd. Jefferies Financial Group cut their price target on Snap from $25.00 to $20.00 in a research note on Friday, July 22nd. KeyCorp cut Snap from an overweight rating to a sector weight rating in a research note on Friday, July 22nd. Finally, MKM Partners cut their price target on Snap from $41.00 to $26.00 and set a buy rating for the company in a research note on Tuesday, May 24th. Three equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $21.94.
Snap Trading Down 0.7 %
Shares of NYSE:SNAP opened at $10.18 on Wednesday. Snap has a 12-month low of $9.34 and a 12-month high of $83.34. The stock has a market cap of $16.79 billion, a PE ratio of -19.58 and a beta of 1.01. The business has a 50 day moving average of $13.05 and a 200-day moving average of $25.41. The company has a quick ratio of 5.65, a current ratio of 5.65 and a debt-to-equity ratio of 1.09.
Insider Activity at Snap
Institutional Trading of Snap
Institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC boosted its position in Snap by 64.7% during the fourth quarter. Manchester Capital Management LLC now owns 621 shares of the company’s stock valued at $29,000 after acquiring an additional 244 shares during the last quarter. Cornerstone Advisory LLC bought a new position in shares of Snap during the 4th quarter worth about $33,000. AdvisorNet Financial Inc boosted its position in shares of Snap by 198.7% during the 1st quarter. AdvisorNet Financial Inc now owns 708 shares of the company’s stock worth $25,000 after purchasing an additional 471 shares in the last quarter. UMB Bank N A MO bought a new position in shares of Snap during the 4th quarter worth about $35,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Snap during the 1st quarter worth about $27,000. Institutional investors own 53.88% of the company’s stock.
Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.
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