Snap (NYSE:SNAP) Stock Price Up 5.8%

Snap Inc. (NYSE:SNAP - Get Free Report) shares shot up 5.8% during mid-day trading on Wednesday . The stock traded as high as $11.45 and last traded at $11.01. 37,208,842 shares traded hands during mid-day trading, an increase of 28% from the average session volume of 29,138,225 shares. The stock had previously closed at $10.41.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SNAP. Stifel Nicolaus lowered their target price on Snap from $14.00 to $12.00 and set a "hold" rating on the stock in a research note on Tuesday. Truist Financial boosted their target price on Snap from $11.00 to $12.00 and gave the company a "hold" rating in a research note on Wednesday, February 7th. Wells Fargo & Company lowered their target price on Snap from $22.00 to $16.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 7th. Morgan Stanley lowered their target price on Snap from $13.00 to $11.00 and set an "underweight" rating on the stock in a research note on Wednesday, February 7th. Finally, Susquehanna boosted their target price on Snap from $9.50 to $12.00 and gave the company a "neutral" rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $13.65.

Snap Stock Performance

The company has a 50-day moving average of $11.19 and a 200 day moving average of $12.71. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $17.99 billion, a PE ratio of -13.13 and a beta of 1.13.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) 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 firm had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.39 billion. Equities research analysts predict that Snap Inc. will post -0.58 EPS for the current year.

Insider Transactions at Snap

In other news, SVP Eric Young sold 120,472 shares of the company's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the transaction, the senior vice president now directly owns 3,540,852 shares in the company, valued at approximately $39,409,682.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Rebecca Morrow sold 9,386 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the sale, the chief accounting officer now owns 495,526 shares of the company's stock, valued at approximately $5,520,159.64. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Eric Young sold 120,472 shares of the business's stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the sale, the senior vice president now directly owns 3,540,852 shares of the company's stock, valued at approximately $39,409,682.76. The disclosure for this sale can be found here. In the last three months, insiders sold 470,054 shares of company stock worth $5,279,729.

Institutional Investors Weigh In On Snap

Hedge funds and other institutional investors have recently modified their holdings of the stock. NBC Securities Inc. raised its position in Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company's stock valued at $25,000 after purchasing an additional 1,445 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Snap during the 4th quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. raised its position in Snap by 75.0% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company's stock valued at $31,000 after purchasing an additional 1,500 shares during the last quarter. Allworth Financial LP raised its position in Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company's stock valued at $47,000 after purchasing an additional 1,708 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Snap by 365.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company's stock valued at $47,000 after purchasing an additional 3,094 shares during 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.