Snap (NYSE:SNAP) Stock Rating Reaffirmed by Raymond James

Raymond James reaffirmed their outperform rating on shares of Snap (NYSE:SNAP) in a report published on Friday, Benzinga reports. Raymond James currently has a $16.00 price target on the stock, up from their prior price target of $15.00.

Several other equities analysts have also commented on SNAP. Truist Financial raised their price target on Snap from $12.00 to $16.00 and gave the company a hold rating in a research note on Friday. BMO Capital Markets cut their price target on Snap from $22.00 to $20.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. Evercore ISI raised their price target on Snap from $13.00 to $14.00 and gave the company an in-line rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upgraded Snap from a hold rating to a buy rating and lifted their target price for the company from $10.00 to $19.00 in a research note on Friday, January 26th. Finally, HSBC upgraded Snap from a reduce rating to a buy rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $14.67.

Snap Stock Up 27.5 %

NYSE:SNAP opened at $14.53 on Friday. Snap has a twelve month low of $7.86 and a twelve month high of $17.90. The company has a market cap of $23.98 billion, a price-to-earnings ratio of -17.94 and a beta of 1.13. The stock has a fifty day simple moving average of $11.26 and a 200-day simple moving average of $12.84. 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 (NYSE:SNAP) last released its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.10. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. Analysts anticipate that Snap will post -0.58 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the sale, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the sale, the general counsel now owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Derek Andersen sold 96,953 shares of Snap stock in a transaction dated 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 sale, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock valued at $5,284,091 over the last quarter. 22.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Lindbrook Capital LLC lifted its holdings in Snap by 44,707.8% in the first quarter. Lindbrook Capital LLC now owns 355,326 shares of the company’s stock valued at $4,079,000 after acquiring an additional 354,533 shares during the period. TRUE Private Wealth Advisors lifted its holdings in Snap by 6.1% in the first quarter. TRUE Private Wealth Advisors now owns 49,642 shares of the company’s stock valued at $570,000 after acquiring an additional 2,850 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Snap by 12.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 209,242 shares of the company’s stock valued at $2,402,000 after acquiring an additional 23,300 shares during the period. Pegasus Partners Ltd. acquired a new position in Snap in the first quarter valued at approximately $367,000. Finally, Zullo Investment Group Inc. acquired a new position in Snap in the first quarter valued at approximately $138,000. 47.52% of the stock is owned by institutional investors and hedge funds.

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.