Susquehanna Increases Snap (NYSE:SNAP) Price Target to $15.00

Snap (NYSE:SNAP) had its price objective increased by research analysts at Susquehanna from $12.00 to $15.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s target price suggests a potential upside of 4.17% from the company’s current price.

Other equities analysts have also issued reports about the company. Royal Bank of Canada increased their price objective on Snap from $13.00 to $16.00 and gave the company a “sector perform” rating in a research report on Friday. Raymond James reiterated an “outperform” rating and issued a $16.00 price objective (up previously from $15.00) on shares of Snap in a research report on Friday. Canaccord Genuity Group raised their target price on shares of Snap from $14.00 to $15.00 and gave the stock a “hold” rating in a report on Friday. BMO Capital Markets dropped their price target on shares of Snap from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, Piper Sandler boosted their price objective on shares of Snap from $12.00 to $17.00 and gave the company a “neutral” rating in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $14.79.

Snap Stock Down 1.0 %

Shares of NYSE SNAP opened at $14.40 on Monday. Snap has a one year low of $7.86 and a one year high of $17.90. The business’s fifty day moving average price is $11.26 and its 200-day moving average price is $12.89. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The stock has a market capitalization of $23.77 billion, a PE ratio of -17.77 and a beta of 1.13.

Snap (NYSE:SNAP) last issued its quarterly 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. The firm 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%. On average, equities research analysts anticipate that Snap will post -0.58 EPS for the current year.

Insider Buying and Selling at Snap

In other news, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction dated 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 of the company’s stock, valued at approximately $5,520,159.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, 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 sale, the chief accounting officer now owns 495,526 shares of the company’s stock, valued at approximately $5,520,159.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the sale, the general counsel now directly owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 470,482 shares of company stock valued at $5,284,091.

Institutional Investors Weigh In On Snap

Hedge funds have recently made changes to their positions in the company. NBC Securities Inc. grew its stake in shares of Snap by 2,580.4% in the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after buying an additional 1,445 shares in the last quarter. Allworth Financial LP grew its position in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after acquiring an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in Snap in the fourth quarter worth $51,000. Rakuten Securities Inc. purchased a new position in shares of Snap during the 4th quarter worth about $73,000. Finally, Westpac Banking Corp grew its stake in shares of Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after buying an additional 2,506 shares during the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

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.