Snap Inc. (NYSE:SNAP) Receives $36.99 Consensus Target Price from Brokerages

Shares of Snap Inc. (NYSE:SNAP - Get Free Report) have received a consensus recommendation of "Hold" from the thirty-two analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, twenty-two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $36.99.

A number of analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Snap from $13.00 to $14.00 and gave the stock a "hold" rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a "buy" rating and set a $640.00 price target on shares of Snap in a report on Thursday, December 5th. Loop Capital boosted their price objective on Snap from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Guggenheim reiterated a "buy" rating and set a $12.11 target price on shares of Snap in a research report on Tuesday, December 3rd. Finally, Citigroup boosted their price target on Snap from $11.00 to $13.00 and gave the stock a "neutral" rating in a report on Friday, November 29th.

Snap Stock Performance

NYSE:SNAP traded down $0.05 during mid-day trading on Friday, hitting $11.31. 23,099,983 shares of the company traded hands, compared to its average volume of 26,324,652. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock's fifty day moving average price is $11.53 and its 200-day moving average price is $10.96. The firm has a market cap of $18.96 billion, a price-to-earnings ratio of -19.49 and a beta of 0.98. Snap has a one year low of $8.29 and a one year high of $17.50.

Snap (NYSE:SNAP - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the firm posted ($0.21) EPS. The firm's quarterly revenue was up 15.4% compared to the same quarter last year. Research analysts anticipate that Snap will post -0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Rebecca Morrow sold 2,812 shares of Snap stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the sale, the chief accounting officer now directly owns 430,252 shares in the company, valued at approximately $4,922,082.88. This trade represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O'sullivan sold 12,315 shares of Snap stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.54, for a total transaction of $129,800.10. Following the sale, the general counsel now owns 1,195,567 shares of the company's stock, valued at $12,601,276.18. The trade was a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 427,184 shares of company stock valued at $4,761,369 over the last 90 days. Insiders own 22.68% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNAP. TB Alternative Assets Ltd. increased its stake in shares of Snap by 105.6% during the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company's stock valued at $85,406,000 after buying an additional 4,098,847 shares during the period. Charles Schwab Investment Management Inc. increased its position in Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company's stock valued at $66,462,000 after purchasing an additional 2,386,519 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Snap by 49.6% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,910,459 shares of the company's stock valued at $41,842,000 after purchasing an additional 1,297,348 shares in the last quarter. Groupama Asset Managment purchased a new stake in shares of Snap in the 3rd quarter worth approximately $13,032,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Snap by 51.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 3,086,741 shares of the company's stock valued at $33,244,000 after purchasing an additional 1,050,501 shares in the last quarter. 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.