Snap (NYSE:SNAP) PT Lowered to $12.00 at Stifel Nicolaus

Snap (NYSE:SNAP) had its price target reduced by Stifel Nicolaus from $14.00 to $12.00 in a report issued on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group reduced their price objective on shares of Snap from $15.00 to $13.50 and set a neutral rating for the company in a research note on Thursday, February 8th. Royal Bank of Canada reduced their price objective on shares of Snap from $17.00 to $13.00 and set a sector perform rating for the company in a research note on Wednesday, February 7th. Roth Mkm lifted their price objective on shares of Snap from $10.00 to $14.00 and gave the company a neutral rating in a research note on Friday, January 26th. Truist Financial lifted their price objective on shares of Snap from $11.00 to $12.00 and gave the company a hold rating in a research note on Wednesday, February 7th. Finally, Morgan Stanley reduced their price objective on shares of Snap from $13.00 to $11.00 and set an underweight rating for the company in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Snap currently has an average rating of Hold and a consensus price target of $13.86.

Snap Trading Up 6.7 %

NYSE:SNAP opened at $11.63 on Tuesday. 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 stock has a market capitalization of $19.20 billion, a PE ratio of -14.01 and a beta of 1.13. The firm’s 50 day moving average is $11.21 and its 200 day moving average is $12.71. Snap has a 12 month low of $7.86 and a 12 month high of $17.90.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. Sell-side analysts expect that Snap will post -0.58 earnings per share for the current year.

Insider Transactions at Snap

In other news, CEO Evan Spiegel sold 150,000 shares of Snap stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the completion of the sale, the chief executive officer now directly owns 3,627,844 shares of the company’s stock, valued at approximately $40,305,346.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snap news, CAO Rebecca Morrow sold 9,386 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the sale, the chief accounting officer now directly owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the completion of the sale, the chief executive officer now directly owns 3,627,844 shares of the company’s stock, valued at $40,305,346.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 470,482 shares of company stock valued at $5,284,091. Insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Several hedge funds have recently added to or reduced their stakes in the business. Sowell Financial Services LLC lifted its stake in Snap by 3.3% in the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock worth $392,000 after purchasing an additional 729 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Snap by 2.2% during the fourth 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 last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Snap by 7.4% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,440 shares of the company’s stock valued at $176,000 after acquiring an additional 930 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Snap by 3.3% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock valued at $533,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Impax Asset Management Group plc raised its stake in shares of Snap by 4.5% during the third quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock valued at $209,000 after acquiring an additional 1,017 shares during the last quarter. 47.52% of the stock is 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.