Snap (NYSE:SNAP) Given New $9.00 Price Target at Rosenblatt Securities

Snap (NYSE:SNAP - Free Report) had its price objective lowered by Rosenblatt Securities from $12.00 to $9.00 in a research report report published on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a neutral rating on the stock.

Several other research analysts have also commented on the company. Stifel Nicolaus cut their price objective on Snap from $11.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. JMP Securities set a $12.00 target price on Snap in a report on Friday, April 25th. Piper Sandler decreased their price target on Snap from $13.00 to $10.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Canaccord Genuity Group decreased their target price on shares of Snap from $13.00 to $10.00 and set a "hold" rating for the company in a research note on Thursday, April 17th. Finally, Morgan Stanley dropped their price target on shares of Snap from $10.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $35.58.

Snap Trading Up 1.5 %

NYSE:SNAP traded up $0.13 on Wednesday, hitting $8.58. 26,635,830 shares of the stock were exchanged, compared to its average volume of 28,383,879. The stock has a fifty day moving average of $8.69 and a 200-day moving average of $10.39. The stock has a market cap of $14.55 billion, a PE ratio of -20.42 and a beta of 0.61. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap has a fifty-two week low of $7.08 and a fifty-two week high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative net margin of 13.02% and a negative return on equity of 25.67%. The business had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. During the same quarter in the previous year, the business posted $0.03 EPS. The company's quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities analysts expect that Snap will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snap news, CFO Derek Andersen sold 61,334 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $664,860.56. Following the sale, the chief financial officer now directly owns 3,564,235 shares in the company, valued at approximately $38,636,307.40. This trade represents a 1.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Eric Young sold 102,152 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the sale, the senior vice president now directly owns 3,443,419 shares in the company, valued at approximately $37,326,661.96. This trade represents a 2.88 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,362,523 shares of company stock valued at $12,689,017. Insiders own 22.68% of the company's stock.

Institutional Trading of Snap

Several hedge funds have recently added to or reduced their stakes in SNAP. Checchi Capital Advisers LLC grew its position in Snap by 3.0% in the 4th quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company's stock valued at $335,000 after buying an additional 901 shares in the last quarter. HCR Wealth Advisors raised its holdings in Snap by 3.9% during the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company's stock worth $269,000 after purchasing an additional 934 shares in the last quarter. Captrust Financial Advisors raised its holdings in Snap by 8.0% during the fourth quarter. Captrust Financial Advisors now owns 13,918 shares of the company's stock worth $150,000 after purchasing an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Snap by 1.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company's stock worth $661,000 after purchasing an additional 1,033 shares during the period. Finally, Empowered Funds LLC boosted its stake in Snap by 3.1% during the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after purchasing an additional 1,055 shares in the last quarter. Institutional investors own 47.52% of the company's stock.

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.