Snap (NYSE:SNAP) Stock Price Expected to Rise, Evercore ISI Analyst Says

Snap (NYSE:SNAP) had its target price upped by equities research analysts at Evercore ISI from $12.00 to $15.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “in-line” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 20.97% from the company’s previous close.

A number of other analysts also recently weighed in on SNAP. Hsbc Global Res downgraded Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Susquehanna lowered their price target on shares of Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. JMP Securities upgraded shares of Snap from a “market perform” rating to an “outperform” rating and set a $17.00 target price on the stock in a research report on Wednesday, October 23rd. Finally, B. Riley assumed coverage on shares of Snap in a research report on Friday, September 20th. They set a “neutral” rating and a $11.00 price target for the company. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.12.

Snap Stock Performance

Snap stock traded up $1.51 during trading hours on Wednesday, reaching $12.40. 50,550,438 shares of the stock were exchanged, compared to its average volume of 27,092,652. Snap has a 52-week low of $8.29 and a 52-week high of $17.90. The stock has a market cap of $20.35 billion, a P/E ratio of -15.28 and a beta of 1.01. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The firm’s 50 day moving average is $9.99 and its 200 day moving average is $12.69.

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

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $10.81, for a total value of $194,580.00. Following the completion of the sale, the general counsel now owns 489,058 shares in the company, valued at $5,286,716.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Rebecca Morrow sold 8,923 shares of Snap stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.10, for a total value of $81,199.30. Following the transaction, the chief accounting officer now owns 472,405 shares in the company, valued at approximately $4,298,885.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $10.81, for a total value of $194,580.00. Following the sale, the general counsel now owns 489,058 shares of the company’s stock, valued at $5,286,716.98. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,490,617 shares of company stock worth $13,183,890. 22.68% of the stock is owned by company insiders.

Institutional Trading of Snap

A number of institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in Snap during the 3rd quarter worth $29,000. Paladin Wealth LLC purchased a new stake in shares of Snap in the third quarter worth about $30,000. Hollencrest Capital Management acquired a new stake in shares of Snap in the second quarter valued at about $33,000. Blue Trust Inc. raised its holdings in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares during the period. Finally, Rothschild Investment LLC acquired a new position in Snap during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.