Snap (NYSE:SNAP) PT Lowered to $12.00 at Stifel Nicolaus

Snap (NYSE:SNAP) had its price target decreased by Stifel Nicolaus from $14.00 to $12.00 in a research note issued to investors on Tuesday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other equities analysts have also recently commented on the stock. Roth Mkm lifted their price objective on shares of Snap from $10.00 to $14.00 and gave the stock a neutral rating in a research note on Friday, January 26th. Truist Financial lifted their price objective on shares of Snap from $11.00 to $12.00 and gave the stock a hold rating in a research note on Wednesday, February 7th. Wells Fargo & Company dropped their price objective on shares of Snap from $22.00 to $16.00 and set an overweight rating for the company in a research note on Wednesday, February 7th. Susquehanna lifted their price objective on shares of Snap from $9.50 to $12.00 and gave the stock a neutral rating in a research note on Wednesday, February 7th. Finally, Guggenheim raised shares of Snap from a neutral rating to a buy rating and lifted their price objective for the stock from $9.00 to $23.00 in a research note on Monday, December 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six 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 target price of $13.86.

Snap Stock Performance

SNAP opened at $11.63 on Tuesday. The stock has a market capitalization of $19.20 billion, a price-to-earnings ratio of -14.01 and a beta of 1.13. The company has a fifty day moving average of $11.21 and a 200 day moving average of $12.71. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.04. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. As a group, sell-side analysts forecast that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Activity at Snap

In related news, CAO Rebecca Morrow sold 2,442 shares of Snap stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.00, for a total transaction of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares in the company, valued at approximately $5,423,924. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, SVP Eric Young sold 120,472 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the sale, the senior vice president now owns 3,540,852 shares in the company, valued at approximately $39,409,682.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Rebecca Morrow sold 2,442 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.00, for a total transaction of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares of the company’s stock, valued at approximately $5,423,924. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock worth $5,284,091 in the last 90 days. 22.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snap

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Snap by 1.5% during the third quarter. Vanguard Group Inc. now owns 91,814,471 shares of the company’s stock worth $818,067,000 after purchasing an additional 1,352,655 shares during the last quarter. Jump Financial LLC increased its position in Snap by 565.4% during the third quarter. Jump Financial LLC now owns 262,952 shares of the company’s stock worth $2,343,000 after purchasing an additional 223,432 shares during the last quarter. Allworth Financial LP increased its position in Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of Snap during the third quarter valued at about $423,000. Finally, Korea Investment CORP increased its position in shares of Snap by 191.7% during the third quarter. Korea Investment CORP now owns 415,635 shares of the company’s stock valued at $3,703,000 after acquiring an additional 273,156 shares during the last quarter. 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.