Snap (NYSE:SNAP) Price Target Raised to $14.00

Snap (NYSE:SNAP) had its price target increased by Truist Financial from $13.00 to $14.00 in a research report sent to investors on Wednesday, Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other equities research analysts have also recently commented on SNAP. Wells Fargo & Company decreased their price objective on Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Stifel Nicolaus cut their target price on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Monday, October 14th. Bank of America decreased their price target on shares of Snap from $16.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Wolfe Research started coverage on Snap in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Morgan Stanley raised Snap from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $12.00 to $16.00 in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $14.25.

Snap Stock Up 3.0 %

Shares of NYSE:SNAP opened at $12.53 on Wednesday. Snap has a 12 month low of $8.29 and a 12 month high of $17.90. The firm has a market cap of $20.79 billion, a P/E ratio of -21.60 and a beta of 0.99. The company has a quick ratio of 3.98, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The company’s 50-day moving average price is $10.18 and its two-hundred day moving average price is $12.70.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, October 29th. The company reported $0.08 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 company had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm earned ($0.21) EPS. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. As a group, research analysts forecast that Snap will post -0.47 EPS for the current fiscal year.

Insider Transactions at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction that occurred on 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 transaction, the chief technology officer now directly owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was 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 directly owns 3,327,844 shares in the company, valued at $29,451,419.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the sale, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,497,051 shares of company stock worth $13,261,098. 22.68% of the stock is owned by company insiders.

Institutional Trading of Snap

Institutional investors have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in shares of Snap during the 3rd quarter valued at $29,000. Paladin Wealth LLC bought a new stake in shares of Snap during the 3rd quarter valued at $30,000. Hollencrest Capital Management bought a new stake in shares of Snap during the 2nd quarter valued at $33,000. Blue Trust Inc. lifted its position 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 acquiring an additional 1,682 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Snap during the 2nd quarter valued at $40,000. 47.52% of the stock is currently owned by institutional investors.

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.