Snap (NYSE:SNAP) PT Raised to $17.00 at Barclays

Snap (NYSE:SNAP) had its target price lifted by equities researchers at Barclays from $15.00 to $17.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 22.48% from the company’s current price.

Other equities analysts also recently issued reports about the company. Stifel Nicolaus dropped their price objective on Snap from $14.00 to $12.00 and set a “hold” rating for the company in a research note on Tuesday, April 16th. The Goldman Sachs Group dropped their price objective on Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Canaccord Genuity Group raised their price objective on Snap from $14.00 to $15.00 and gave the company a “hold” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised Snap from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.00 to $19.00 in a research note on Friday, January 26th. Finally, UBS Group dropped their price objective on Snap from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Snap presently has a consensus rating of “Hold” and an average price target of $14.09.

Snap Stock Performance

Shares of SNAP stock traded up $2.48 during trading hours on Friday, reaching $13.88. 51,443,823 shares of the company’s stock were exchanged, compared to its average volume of 30,380,549. The company has a market cap of $22.91 billion, a P/E ratio of -16.90 and a beta of 1.13. The company’s 50 day moving average is $11.19 and its two-hundred day moving average is $12.79. Snap has a 1 year low of $7.86 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. Equities research analysts anticipate that Snap will post -0.58 EPS for the current fiscal year.

Insider Transactions at Snap

In other news, CEO Evan Spiegel sold 150,000 shares of the firm’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 sale, the chief executive officer now owns 3,627,844 shares in the company, valued at $40,305,346.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Evan Spiegel sold 150,000 shares of Snap stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total value of $1,666,500.00. Following the transaction, the chief executive officer now owns 3,627,844 shares in the company, valued at $40,305,346.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Derek Andersen sold 96,953 shares of Snap stock in a transaction on Monday, March 18th. The shares were sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the transaction, the chief financial officer now owns 2,534,689 shares in the company, valued at approximately $27,856,232.11. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock worth $5,284,091 over the last quarter. 22.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. HCR Wealth Advisors increased its holdings in Snap by 10.0% in the third quarter. HCR Wealth Advisors now owns 23,162 shares of the company’s stock valued at $206,000 after buying an additional 2,098 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Snap by 7.6% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 191,542 shares of the company’s stock worth $1,707,000 after buying an additional 13,500 shares during the period. Compass Advisory Group LLC lifted its position in Snap by 13.2% in the third quarter. Compass Advisory Group LLC now owns 13,678 shares of the company’s stock worth $122,000 after purchasing an additional 1,591 shares during the period. Avaii Wealth Management LLC lifted its position in Snap by 24.2% in the third quarter. Avaii Wealth Management LLC now owns 15,819 shares of the company’s stock worth $141,000 after purchasing an additional 3,080 shares during the period. Finally, Forsta AP Fonden increased its holdings in shares of Snap by 3.6% in the third quarter. Forsta AP Fonden now owns 238,700 shares of the company’s stock valued at $2,127,000 after buying an additional 8,400 shares in the last quarter. 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.