Snap (NYSE:SNAP) Given New $11.00 Price Target at Stifel Nicolaus

Snap (NYSE:SNAP) had its price target lowered by Stifel Nicolaus from $13.00 to $11.00 in a report published on Monday, Benzinga reports. The firm currently has a hold rating on the stock.

Several other equities research analysts also recently weighed in on SNAP. B. Riley assumed coverage on Snap in a report on Friday, September 20th. They issued a “neutral” rating and a $11.00 price objective for the company. Morgan Stanley raised Snap from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $12.00 to $16.00 in a report on Tuesday, July 23rd. Bank of America decreased their price target on Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Roth Mkm reaffirmed a “neutral” rating and set a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price target (down from $15.00) on shares of Snap in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.77.

Snap Price Performance

SNAP stock opened at $10.74 on Monday. The company has a market capitalization of $17.62 billion, a P/E ratio of -13.26 and a beta of 1.01. Snap has a twelve month low of $8.29 and a twelve month high of $17.90. The business has a 50 day simple moving average of $9.72 and a 200-day simple moving average of $12.74. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. As a group, equities analysts anticipate that Snap will post -0.47 EPS for the current year.

Insider Buying and Selling

In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total value of $239,040.00. Following the sale, the general counsel now owns 463,908 shares of the company’s stock, valued at approximately $6,160,698.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,510,352 shares of company stock worth $13,446,353. 22.68% of the stock is owned by corporate insiders.

Institutional Trading of Snap

A number of hedge funds have recently added to or reduced their stakes in the business. GraniteShares Advisors LLC boosted its stake in Snap by 2.5% in the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock worth $634,000 after buying an additional 941 shares during the last quarter. Charles Schwab Investment Advisory Inc. boosted its stake in Snap by 2.7% in the 1st quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock worth $411,000 after buying an additional 956 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in Snap by 4.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock worth $448,000 after buying an additional 1,048 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Snap by 6.7% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock worth $333,000 after buying an additional 1,232 shares during the last quarter. Finally, DMC Group LLC boosted its stake in Snap by 10.5% in the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company’s stock worth $259,000 after buying an additional 1,477 shares during 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.