Snap (NYSE:SNAP) PT Raised to $13.00 at Stifel Nicolaus

Snap (NYSE:SNAP) had its price objective boosted by stock analysts at Stifel Nicolaus from $12.00 to $13.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential downside of 10.96% from the company’s current price.

Several other equities analysts also recently commented on SNAP. The Goldman Sachs Group cut their target price on Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Canaccord Genuity Group raised their target price on Snap from $14.00 to $15.00 and gave the stock a “hold” rating in a research report on Friday. HSBC upgraded Snap from a “reduce” rating to a “buy” rating in a research report on Friday. Morgan Stanley cut their target price on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Wednesday, February 7th. Finally, UBS Group dropped their price target on Snap from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, April 16th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.43.

Snap Stock Performance

SNAP traded up $3.20 during midday trading on Friday, reaching $14.60. The company’s stock had a trading volume of 84,764,758 shares, compared to its average volume of 30,880,594. The stock has a market cap of $24.10 billion, a P/E ratio of -17.36 and a beta of 1.13. The company has a fifty day simple moving average of $11.19 and a 200 day simple moving average of $12.79. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap has a twelve month low of $7.86 and a twelve month high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Research analysts expect that Snap will post -0.58 earnings per share for the current year.

Insider Transactions at Snap

In other news, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the transaction, the chief financial officer now owns 2,534,689 shares in the company, valued at approximately $27,856,232.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Derek Andersen sold 96,953 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the transaction, the chief financial officer now owns 2,534,689 shares in the company, valued at $27,856,232.11. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Evan Spiegel sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $11.11, for a total value of $1,666,500.00. Following the completion of the transaction, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock worth $5,284,091 in the last 90 days. Insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Hedge funds and other institutional investors have recently bought and sold shares of the business. HCR Wealth Advisors grew its position in Snap by 10.0% in the third quarter. HCR Wealth Advisors now owns 23,162 shares of the company’s stock worth $206,000 after acquiring an additional 2,098 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Snap by 7.6% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 191,542 shares of the company’s stock worth $1,707,000 after purchasing an additional 13,500 shares during the period. Compass Advisory Group LLC boosted its holdings in shares of Snap by 13.2% during the third quarter. Compass Advisory Group LLC now owns 13,678 shares of the company’s stock worth $122,000 after purchasing an additional 1,591 shares during the period. Avaii Wealth Management LLC boosted its holdings in shares of Snap by 24.2% during the third quarter. Avaii Wealth Management LLC now owns 15,819 shares of the company’s stock worth $141,000 after purchasing an additional 3,080 shares during the period. Finally, Forsta AP Fonden boosted its holdings in shares of Snap by 3.6% during the third quarter. Forsta AP Fonden now owns 238,700 shares of the company’s stock worth $2,127,000 after purchasing an additional 8,400 shares during the period. Institutional investors own 47.52% of the company’s stock.

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.