Brokerages Set Snap Inc. (NYSE:SNAP) PT at $13.76

Shares of Snap Inc. (NYSE:SNAP) have earned an average rating of “Hold” from the thirty-two analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $14.00.

SNAP has been the topic of a number of research reports. Argus upgraded Snap to a “hold” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $14.00 price target on shares of Snap in a research note on Wednesday, September 18th. Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price objective (down previously from $15.00) on shares of Snap in a research note on Friday, August 2nd. Citigroup decreased their target price on shares of Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Finally, Benchmark restated a “hold” rating on shares of Snap in a research report on Tuesday, August 6th.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total transaction of $239,040.00. Following the sale, the general counsel now directly owns 463,908 shares in the company, valued at $6,160,698.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total value of $239,040.00. Following the completion of the transaction, the general counsel now owns 463,908 shares in the company, valued at $6,160,698.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Evan Spiegel sold 150,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total value of $1,327,500.00. Following the completion of the sale, the chief executive officer now owns 3,327,844 shares in the company, valued at $29,451,419.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,493,540 shares of company stock valued at $13,271,826. Corporate insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC lifted its stake in Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after acquiring an additional 891 shares during the last quarter. GraniteShares Advisors LLC raised its holdings in shares of Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock valued at $634,000 after purchasing an additional 941 shares in the last quarter. Charles Schwab Investment Advisory Inc. lifted its position in shares of Snap by 2.7% during the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after purchasing an additional 956 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Snap by 4.0% during the second quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock worth $448,000 after purchasing an additional 1,048 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Snap by 6.7% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock valued at $333,000 after buying an additional 1,232 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

Snap Stock Up 3.0 %

SNAP stock opened at $10.88 on Monday. The stock has a market capitalization of $18.06 billion, a P/E ratio of -13.43 and a beta of 1.00. Snap has a 52 week low of $8.29 and a 52 week high of $17.90. The firm has a 50-day simple moving average of $10.11 and a 200-day simple moving average of $12.77. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. Equities analysts forecast that Snap will post -0.47 earnings per share for the current fiscal year.

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.