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

Snap (NYSE:SNAP) had its price objective raised by Citigroup from $11.00 to $13.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other equities research analysts have also recently commented on SNAP. Roth Mkm restated a “neutral” rating and set a $14.00 target price on shares of Snap in a research note on Wednesday, September 18th. Barclays decreased their price objective on shares of Snap from $17.00 to $16.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Cantor Fitzgerald upped their target price on shares of Snap from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. B. Riley raised their price target on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Argus raised Snap to a “hold” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.39.

Snap Trading Up 1.7 %

Shares of Snap stock opened at $11.81 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The stock has a market capitalization of $19.80 billion, a PE ratio of -20.35 and a beta of 0.99. Snap has a 1-year low of $8.29 and a 1-year high of $17.90. The company’s fifty day simple moving average is $11.04 and its 200-day simple moving average is $12.34.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Snap’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, equities analysts anticipate that Snap will post -0.4 earnings per share for the current year.

Insider Activity at Snap

In other news, CAO Rebecca Morrow sold 11,154 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $10.55, for a total value of $117,674.70. Following the sale, the chief accounting officer now directly owns 465,064 shares in the company, valued at approximately $4,906,425.20. This represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the transaction, the chief technology officer now owns 57,210,989 shares of the company’s stock, valued at approximately $715,137,362.50. The trade was a 1.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,388,709 shares of company stock worth $16,448,087. Company insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Institutional investors and hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management purchased a new position in Snap in the 2nd quarter worth about $33,000. Blue Trust Inc. increased its position in shares of Snap by 354.1% during the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares during the period. Rothschild Investment LLC bought a new stake in shares of Snap during the second quarter valued at approximately $40,000. V Square Quantitative Management LLC purchased a new stake in shares of Snap in the third quarter valued at approximately $29,000. Finally, Paladin Wealth LLC bought a new position in Snap in the third quarter worth approximately $30,000. 47.52% of the stock is currently owned by institutional investors.

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.