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

Snap (NYSE:SNAP - Free Report) had its price target raised by Susquehanna from $12.00 to $15.00 in a report published on Monday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts also recently weighed in on SNAP. Piper Sandler boosted their target price on shares of Snap from $12.00 to $17.00 and gave the stock a neutral rating in a report on Wednesday, January 17th. UBS Group reduced their price objective on Snap from $14.00 to $13.00 and set a neutral rating on the stock in a research note on Tuesday, April 16th. BMO Capital Markets lowered 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. The Goldman Sachs Group boosted their target price on Snap from $13.50 to $16.00 and gave the company a neutral rating in a research report on Friday. Finally, Barclays raised their price target on Snap from $15.00 to $17.00 and gave the stock an overweight rating in a research report on Friday. Two research 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. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $14.79.

Snap Price Performance

Shares of Snap stock traded down $0.06 during trading on Monday, reaching $14.49. 54,023,736 shares of the stock traded hands, compared to its average volume of 32,115,391. Snap has a 52-week low of $7.86 and a 52-week high of $17.90. 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 business has a fifty day simple moving average of $11.33 and a two-hundred day simple moving average of $12.93. The company has a market capitalization of $23.92 billion, a price-to-earnings ratio of -17.89 and a beta of 1.13.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results 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. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The business had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.12 billion. Sell-side analysts expect that Snap will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O'sullivan sold 13,000 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the transaction, the general counsel now directly owns 461,005 shares in the company, valued at approximately $7,449,840.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Rebecca Morrow sold 2,442 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.00, for a total transaction of $26,862.00. Following the completion of the sale, the chief accounting officer now directly owns 493,084 shares in the company, valued at approximately $5,423,924. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael J. O'sullivan sold 13,000 shares of the firm's stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the sale, the general counsel now directly owns 461,005 shares in the company, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 470,482 shares of company stock worth $5,284,091. 22.68% of the stock is currently owned by company insiders.

Institutional Trading of Snap

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Snap by 3.8% in the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company's stock worth $1,613,729,000 after buying an additional 3,503,230 shares during the last quarter. SRS Investment Management LLC grew its holdings in 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 during the last quarter. Capital World Investors increased its position in shares of Snap by 0.6% during 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 holdings in shares of Snap by 4.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company's stock valued at $73,666,000 after purchasing an additional 327,038 shares during the last quarter. Finally, Carmignac Gestion purchased a new stake in shares of Snap during the 4th quarter valued at $110,103,000. 47.52% of the stock is 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.