Snap Inc. (NYSE:SNAP) Receives $13.70 Consensus Price Target from Brokerages

Shares of Snap Inc. (NYSE:SNAP - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-one analysts that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $13.70.

SNAP has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Snap from $12.00 to $17.00 and gave the stock a "neutral" rating in a report on Wednesday, January 17th. Susquehanna boosted their price target on Snap from $9.50 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday, February 7th. Royal Bank of Canada dropped their target price on Snap from $17.00 to $13.00 and set a "sector perform" rating for the company in a research note on Wednesday, February 7th. The Goldman Sachs Group dropped their target price on Snap from $15.00 to $13.50 and set a "neutral" rating for the company in a research note on Thursday, February 8th. Finally, Stifel Nicolaus upped their target price on Snap from $10.00 to $14.00 and gave the company a "hold" rating in a research note on Tuesday, January 9th.

Insider Transactions at Snap

In other news, General Counsel Michael J. O'sullivan sold 13,000 shares of the company's stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now owns 461,005 shares of the company's stock, valued at $7,449,840.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CAO Rebecca Morrow sold 2,442 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the transaction, the chief accounting officer now owns 493,084 shares of the company's stock, valued at $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 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 completion of the transaction, the general counsel now directly owns 461,005 shares of the company's stock, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. Insiders sold 470,462 shares of company stock valued at $5,286,078 over the last quarter. Company insiders own 22.68% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Kapitalo Investimentos Ltda acquired a new stake in Snap during the fourth quarter valued at approximately $108,000. Newbridge Financial Services Group Inc. raised its stake in Snap by 111.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,400 shares of the company's stock valued at $125,000 after buying an additional 3,900 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Snap by 6.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company's stock valued at $333,000 after buying an additional 1,232 shares in the last quarter. Vanguard Group Inc. raised its stake in Snap by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company's stock valued at $1,613,729,000 after buying an additional 3,503,230 shares in the last quarter. Finally, ICA Group Wealth Management LLC acquired a new stake in Snap during the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap Price Performance

Shares of NYSE SNAP traded down $0.23 during trading on Monday, reaching $11.25. The company had a trading volume of 13,140,079 shares, compared to its average volume of 31,006,797. Snap has a twelve month low of $7.86 and a twelve month high of $17.90. The stock has a market capitalization of $18.57 billion, a PE ratio of -13.55 and a beta of 1.13. The stock has a 50-day moving average price of $12.43 and a two-hundred day moving average price of $12.56. 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 - Get Free Report) last released its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.04. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.39 billion. As a group, sell-side analysts predict that Snap will post -0.58 earnings per share for the current year.

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.