Brokerages Set Snap Inc. (NYSE:SNAP) Price Target at $14.31

Shares of Snap Inc. (NYSE:SNAP) have earned an average rating of “Hold” from the thirty-two research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $14.31.

SNAP has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price target on Snap from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. HSBC downgraded shares of Snap from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Roth Mkm restated a “neutral” rating and issued a $14.00 price objective on shares of Snap in a report on Wednesday, September 18th. Citigroup lowered their price target on shares of Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, JMP Securities lowered their price objective on Snap from $17.00 to $16.00 and set a “market outperform” rating for the company in a research report on Wednesday, October 30th.

Insider Activity at Snap

In other news, CFO Derek Andersen sold 97,608 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the completion of the transaction, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at $21,255,241.30. This represents a 4.09 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $12.50, for a total transaction of $12,500,000.00. Following the completion of the sale, the chief technology officer now directly owns 57,210,989 shares in the company, valued at $715,137,362.50. This trade represents a 1.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,221,220 shares of company stock valued at $14,659,201 over the last ninety days. Corporate insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in Snap by 5.2% in the 3rd quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company’s stock valued at $124,742,000 after acquiring an additional 575,324 shares during the period. Groupama Asset Managment bought a new stake in shares of Snap in the third quarter valued at approximately $13,032,000. MML Investors Services LLC lifted its stake in shares of Snap by 6.8% during the 3rd quarter. MML Investors Services LLC now owns 25,245 shares of the company’s stock valued at $270,000 after buying an additional 1,614 shares in the last quarter. Orion Portfolio Solutions LLC bought a new position in Snap in the 3rd quarter worth approximately $149,000. Finally, EP Wealth Advisors LLC grew its stake in Snap by 15.2% in the 3rd quarter. EP Wealth Advisors LLC now owns 48,713 shares of the company’s stock valued at $521,000 after buying an additional 6,413 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Stock Down 1.5 %

SNAP stock opened at $10.60 on Tuesday. The firm has a 50-day moving average price of $10.68 and a 200-day moving average price of $12.67. Snap has a 12 month low of $8.29 and a 12 month high of $17.90. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $17.78 billion, a P/E ratio of -18.28 and a beta of 0.99.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business earned ($0.21) earnings per share. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Snap will post -0.41 EPS for the current fiscal year.

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.