Snap (NYSE:SNAP) Price Target Increased to $14.00 by Analysts at Evercore ISI

Snap (NYSE:SNAP) had its price objective lifted by Evercore ISI from $13.00 to $14.00 in a report issued on Friday, Benzinga reports. The firm currently has an in-line rating on the stock.

SNAP has been the topic of several other research reports. HSBC upgraded shares of Snap from a reduce rating to a buy rating in a research note on Friday. BMO Capital Markets dropped their price target on shares of Snap from $22.00 to $20.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. Royal Bank of Canada increased their price target on shares of Snap from $13.00 to $16.00 and gave the stock a sector perform rating in a research note on Friday. Piper Sandler increased their price target on shares of Snap from $12.00 to $17.00 and gave the stock a neutral rating in a research note on Wednesday, January 17th. Finally, The Goldman Sachs Group dropped their price target on shares of Snap from $15.00 to $13.50 and set a neutral rating on the stock in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Snap has a consensus rating of Hold and an average target price of $14.67.

Snap Stock Up 27.5 %

Snap stock opened at $14.53 on Friday. The firm has a market cap of $23.98 billion, a PE ratio of -17.94 and a beta of 1.13. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The firm’s 50 day moving average price is $11.26 and its two-hundred day moving average price is $12.84. Snap has a twelve month low of $7.86 and a twelve month high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 45.02%. On average, research analysts predict that Snap will post -0.58 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, CEO Evan Spiegel sold 150,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Evan Spiegel sold 150,000 shares of Snap stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the completion of the sale, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $11.14, for a total transaction of $104,560.04. Following the transaction, the chief accounting officer now directly owns 495,526 shares in the company, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 470,482 shares of company stock worth $5,284,091. 22.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Snap by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after purchasing an additional 3,503,230 shares in the last quarter. SRS Investment Management LLC lifted its position in shares of Snap by 23.6% in the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after purchasing an additional 12,452,415 shares in the last quarter. Capital World Investors lifted its position in shares of Snap by 0.6% in the fourth quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock worth $776,868,000 after purchasing an additional 274,176 shares in the last quarter. Artisan Partners Limited Partnership lifted its position in shares of Snap by 4.1% in the third quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock worth $73,666,000 after purchasing an additional 327,038 shares in the last quarter. Finally, Carmignac Gestion bought a new stake in shares of Snap in the fourth quarter worth $110,103,000. 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.