Snap (NYSE:SNAP) Price Target Increased to $16.00 by Analysts at The Goldman Sachs Group

Snap (NYSE:SNAP) had its price objective lifted by The Goldman Sachs Group from $13.50 to $16.00 in a report released on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also issued reports on SNAP. Deutsche Bank Aktiengesellschaft raised Snap from a hold rating to a buy rating and raised their target price for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. UBS Group cut 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. Rosenblatt Securities raised their price target on shares of Snap from $12.00 to $14.00 and gave the stock a neutral rating in a report on Friday. Barclays boosted their price target on shares of Snap from $15.00 to $17.00 and gave the stock an overweight rating in a research report on Friday. Finally, Piper Sandler increased their price objective on shares of Snap from $12.00 to $17.00 and gave the stock a neutral rating in a research report on Wednesday, January 17th. 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 stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $14.79.

Snap Price Performance

Snap stock opened at $14.49 on Friday. The stock has a 50-day moving average price of $11.33 and a two-hundred day moving average price of $12.93. Snap has a 12 month low of $7.86 and a 12 month high of $17.90. The company has a market capitalization of $23.92 billion, a PE ratio of -17.89 and a beta of 1.13. 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 released its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Analysts expect that Snap will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Eric Young sold 120,472 shares of Snap stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 3,540,852 shares in the company, valued at $39,409,682.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Eric Young sold 120,472 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the transaction, the senior vice president now owns 3,540,852 shares in the company, valued at $39,409,682.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the transaction, the chief accounting officer now directly owns 495,526 shares in the company, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 470,482 shares of company stock worth $5,284,091. Insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Snap by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after purchasing an additional 3,503,230 shares during the last quarter. SRS Investment Management LLC boosted its holdings in shares of Snap by 23.6% in the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after buying an additional 12,452,415 shares during the last quarter. Capital World Investors grew its position in Snap by 0.6% during the fourth quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock valued at $776,868,000 after buying an additional 274,176 shares during the period. Artisan Partners Limited Partnership increased its holdings in Snap by 4.1% during the third quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock worth $73,666,000 after buying an additional 327,038 shares during the last quarter. Finally, Carmignac Gestion bought a new stake in Snap in the fourth quarter worth about $110,103,000. 47.52% of the stock is owned by institutional investors.

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.