Snap (NYSE:SNAP) Given New $14.00 Price Target at Rosenblatt Securities

Snap (NYSE:SNAP) had its target price increased by Rosenblatt Securities from $12.00 to $14.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research firms have also issued reports on SNAP. Wells Fargo & Company dropped their price target on shares of Snap from $22.00 to $16.00 and set an overweight rating on the stock in a research report on Wednesday, February 7th. HSBC raised shares of Snap from a reduce rating to a buy rating in a research report on Friday. Piper Sandler increased their price objective on shares of Snap from $12.00 to $17.00 and gave the company a neutral rating in a research report on Wednesday, January 17th. Deutsche Bank Aktiengesellschaft raised shares of Snap from a hold rating to a buy rating and increased their price objective for the company from $10.00 to $19.00 in a research report on Friday, January 26th. Finally, Morgan Stanley lowered 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. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $14.67.

Snap Stock Up 27.5 %

Snap stock opened at $14.53 on Friday. The stock has a market capitalization of $23.98 billion, a PE ratio of -17.94 and a beta of 1.13. Snap has a twelve month low of $7.86 and a twelve month high of $17.90. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. The company has a 50 day moving average of $11.26 and a 200-day moving average of $12.84.

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

Insider Activity

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 value of $1,666,500.00. Following the completion of the sale, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $1,666,500.00. Following the completion of the sale, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 2,442 shares of Snap stock in a transaction on Monday, March 18th. The shares were sold at an average price of $11.00, for a total transaction of $26,862.00. Following the completion of the sale, the chief accounting officer now directly owns 493,084 shares of the company’s stock, valued at approximately $5,423,924. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock worth $5,284,091 in the last quarter. 22.68% of the stock is owned by corporate insiders.

Institutional Trading of Snap

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

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.