Susquehanna Increases Snap (NYSE:SNAP) Price Target to $15.00

Snap (NYSE:SNAP) had its price objective hoisted by analysts at Susquehanna from $12.00 to $15.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s price target would suggest a potential upside of 4.17% from the company’s previous close.

SNAP has been the topic of a number of other research reports. UBS Group reduced their price objective on Snap from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 16th. HSBC upgraded Snap from a “reduce” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada lifted their target price on Snap from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Friday. Rosenblatt Securities lifted their target price on Snap from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Barclays lifted their target price on Snap from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $14.79.

Snap Price Performance

Shares of Snap stock opened at $14.40 on Monday. The business’s fifty day moving average price is $11.26 and its 200 day moving average price is $12.89. The stock has a market capitalization of $23.77 billion, a P/E ratio of -17.77 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 current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The company 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%. As a group, research analysts anticipate that Snap will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the sale, the general counsel now directly owns 474,812 shares of the company’s stock, valued at approximately $5,474,582.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Eric Young sold 120,472 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the sale, the senior vice president now directly owns 3,540,852 shares in the company, valued at $39,409,682.76. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock worth $5,284,091 over the last ninety days.

Hedge Funds Weigh In On Snap

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Snap by 1.5% in the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after purchasing an additional 1,352,655 shares in the last quarter. Jump Financial LLC boosted its holdings in Snap by 565.4% in the third quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock worth $2,343,000 after purchasing an additional 223,432 shares in the last quarter. Allworth Financial LP boosted its holdings in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares in the last quarter. Illinois Municipal Retirement Fund bought a new stake in Snap in the third quarter worth $423,000. Finally, Korea Investment CORP boosted its holdings in Snap by 191.7% in the third quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock worth $3,703,000 after purchasing an additional 273,156 shares in the last quarter. 47.52% of the stock is 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.