Snap (NYSE:SNAP) Stock Price Up 3.2%

Shares of Snap Inc. (NYSE:SNAPGet Free Report) rose 3.2% during trading on Monday . The stock traded as high as $16.62 and last traded at $16.57. Approximately 2,280,710 shares were traded during trading, a decline of 93% from the average daily volume of 31,598,398 shares. The stock had previously closed at $16.05.

Analysts Set New Price Targets

Several research firms have issued reports on SNAP. BMO Capital Markets lowered their target price on shares of Snap from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Snap from a “hold” rating to a “buy” rating and upped their target price for the company from $10.00 to $19.00 in a research note on Friday, January 26th. Susquehanna increased their price objective on shares of Snap from $12.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, April 29th. Evercore ISI increased their price objective on shares of Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a research note on Friday, April 26th. Finally, Truist Financial increased their price objective on shares of Snap from $12.00 to $16.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.79.

Read Our Latest Report on SNAP

Snap Price Performance

The company has a debt-to-equity ratio of 1.55, a current ratio of 3.76 and a quick ratio of 3.76. The firm has a fifty day moving average of $12.73 and a two-hundred day moving average of $13.58. The stock has a market capitalization of $26.80 billion, a P/E ratio of -19.81 and a beta of 1.02.

Snap (NYSE:SNAPGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. The firm 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 46.62% and a negative net margin of 26.99%. On average, analysts predict that Snap Inc. will post -0.46 EPS for the current year.

Insider Activity at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $14.27, for a total value of $14,270,000.00. Following the transaction, the chief technology officer now owns 59,894,865 shares in the company, valued at $854,699,723.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Rebecca Morrow sold 2,442 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.00, for a total transaction of $26,862.00. Following the sale, the chief accounting officer now owns 493,084 shares in the company, valued at $5,423,924. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $14.27, for a total value of $14,270,000.00. Following the sale, the chief technology officer now owns 59,894,865 shares in the company, valued at approximately $854,699,723.55. The disclosure for this sale can be found here. Insiders sold 1,372,306 shares of company stock worth $19,075,838 over the last three months.

Institutional Investors Weigh In On Snap

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Snap by 0.9% in the first quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock valued at $1,103,786,000 after acquiring an additional 830,889 shares during the period. SRS Investment Management LLC grew its holdings in Snap by 23.6% in the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after buying an additional 12,452,415 shares in the last quarter. Capital World Investors increased its position in shares of Snap by 0.8% during the 1st quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock worth $531,206,000 after purchasing an additional 385,191 shares during the last quarter. Ossiam increased its position in shares of Snap by 7.1% during the 1st quarter. Ossiam now owns 11,334,804 shares of the company’s stock worth $130,124,000 after purchasing an additional 751,846 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its position in shares of Snap by 4.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock worth $73,666,000 after purchasing an additional 327,038 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Company Profile

(Get Free Report)

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.

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