Snap (NYSE:SNAP) PT Raised to $13.00 at Stifel Nicolaus

Snap (NYSE:SNAP) had its price target hoisted by equities researchers at Stifel Nicolaus from $12.00 to $13.00 in a report issued on Friday, Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price indicates a potential downside of 10.96% from the company’s previous close.

Several other equities research analysts have also recently commented on SNAP. HSBC upgraded shares of Snap from a “reduce” rating to a “buy” rating in a research report on Friday. Roth Mkm reiterated a “neutral” rating and issued a $14.00 price target on shares of Snap in a research report on Tuesday. Morgan Stanley dropped their price target on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 7th. Susquehanna boosted their price target on shares of Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Snap from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.43.

Snap Stock Performance

Shares of NYSE SNAP traded up $3.20 during midday trading on Friday, reaching $14.60. 84,764,758 shares of the company traded hands, compared to its average volume of 30,880,594. Snap has a 52 week low of $7.86 and a 52 week high of $17.90. The stock has a 50-day moving average price of $11.19 and a 200 day moving average price of $12.79. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The company has a market cap of $24.10 billion, a price-to-earnings ratio of -17.36 and a beta of 1.13.

Snap (NYSE:SNAP) last issued its quarterly earnings data 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 28.71% and a negative return on equity of 47.47%. The business had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Sell-side analysts anticipate that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now directly owns 474,812 shares in the company, valued at approximately $5,474,582.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CAO Rebecca Morrow sold 9,386 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $11.14, for a total transaction of $104,560.04. Following the completion of the transaction, the chief accounting officer now directly owns 495,526 shares in the company, valued at $5,520,159.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the transaction, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 470,482 shares of company stock worth $5,284,091. 22.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SNAP. Sowell Financial Services LLC raised its stake in shares of Snap by 3.3% in the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock valued at $392,000 after purchasing an additional 729 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after purchasing an additional 891 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Snap by 3.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock valued at $533,000 after purchasing an additional 1,000 shares in the last quarter. Impax Asset Management Group plc raised its stake in shares of Snap by 4.5% in the third 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 in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of Snap by 7.1% in the third 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 in the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.