Snap (NYSE:SNAP) Given New $14.00 Price Target at Evercore ISI

Snap (NYSE:SNAP) had its target price upped by Evercore ISI from $13.00 to $14.00 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has an in-line rating on the stock.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group dropped their price objective on Snap from $15.00 to $13.50 and set a neutral rating on the stock in a research note on Thursday, February 8th. Susquehanna increased their price objective on Snap from $9.50 to $12.00 and gave the stock a neutral rating in a research note on Wednesday, February 7th. Rosenblatt Securities increased their price objective on Snap from $12.00 to $14.00 and gave the stock a neutral rating in a research note on Friday. Piper Sandler increased their price objective on Snap from $12.00 to $17.00 and gave the stock a neutral rating in a research note on Wednesday, January 17th. Finally, Barclays increased their target price on Snap from $15.00 to $17.00 and gave the company an overweight rating in a research report on Friday. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $14.67.

Snap Trading Up 27.5 %

SNAP opened at $14.53 on Friday. The stock has a market cap of $23.98 billion, a price-to-earnings ratio of -17.94 and a beta of 1.13. The stock’s 50 day moving average price is $11.26 and its 200-day moving average price is $12.84. Snap has a one year low of $7.86 and a one year high of $17.90. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39.

Snap (NYSE:SNAP) last released its earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. On average, equities analysts forecast that Snap will post -0.58 EPS for the current year.

Insider Buying and Selling

In related news, CEO Evan Spiegel sold 150,000 shares of Snap stock in a transaction dated 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 sale, the chief executive officer now directly owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the transaction, the general counsel now directly owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan Spiegel sold 150,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 3,627,844 shares in the company, valued at $40,305,346.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 470,482 shares of company stock worth $5,284,091. Insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Snap by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock valued at $818,067,000 after buying an additional 1,352,655 shares during the period. Jump Financial LLC raised its position in shares of Snap by 565.4% during the 3rd quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock valued at $2,343,000 after buying an additional 223,432 shares during the period. Allworth Financial LP raised its position in shares of Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after buying an additional 1,708 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in shares of Snap during the 3rd quarter valued at approximately $423,000. Finally, Korea Investment CORP raised its position in shares of Snap by 191.7% during the 3rd quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock valued at $3,703,000 after buying an additional 273,156 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.