Snap (NYSE:SNAP) Price Target Increased to $14.00 by Analysts at Rosenblatt Securities

Snap (NYSE:SNAP) had its target price lifted by Rosenblatt Securities from $12.00 to $14.00 in a research report report published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also recently commented on SNAP. The Goldman Sachs Group reduced their price target on Snap from $15.00 to $13.50 and set a neutral rating for the company in a report on Thursday, February 8th. Royal Bank of Canada dropped their price objective on Snap from $17.00 to $13.00 and set a sector perform rating for the company in a research note on Wednesday, February 7th. Piper Sandler raised their price objective on Snap from $12.00 to $17.00 and gave the company a neutral rating in a research note on Wednesday, January 17th. Susquehanna raised their price objective on Snap from $9.50 to $12.00 and gave the company a neutral rating in a research note on Wednesday, February 7th. Finally, BMO Capital Markets dropped their price objective on Snap from $22.00 to $20.00 and set an outperform rating for the company in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $14.67.

Snap Stock Up 27.5 %

Shares of NYSE SNAP opened at $14.53 on Friday. The stock has a market cap of $23.98 billion, a PE ratio of -17.94 and a beta of 1.13. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap has a 52-week low of $7.86 and a 52-week high of $17.90. The business has a 50-day moving average price of $11.26 and a 200 day moving average price of $12.84.

Snap (NYSE:SNAP) last announced its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Equities research analysts forecast that Snap will post -0.58 earnings per share for the current year.

Insider Activity

In related news, SVP Eric Young sold 120,472 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 3,540,852 shares in the company, valued at $39,409,682.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Snap news, SVP Eric Young sold 120,472 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the transaction, the senior vice president now directly owns 3,540,852 shares of the company’s stock, valued at $39,409,682.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Rebecca Morrow sold 2,442 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the sale, the chief accounting officer now directly 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 have sold 470,482 shares of company stock valued at $5,284,091 in the last three months. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Large investors have recently added to or reduced their stakes in the company. Sowell Financial Services LLC lifted its holdings in Snap by 3.3% in the 4th quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock worth $392,000 after buying an additional 729 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Snap by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after buying an additional 891 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in Snap by 3.3% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock worth $533,000 after buying an additional 1,000 shares in the last quarter. Impax Asset Management Group plc lifted its holdings in Snap by 4.5% in the 3rd quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock worth $209,000 after buying an additional 1,017 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Snap by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock worth $137,000 after buying an additional 1,025 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

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.