Snap (NYSE:SNAP) Stock Price Expected to Rise, Sanford C. Bernstein Analyst Says

Snap (NYSE:SNAP - Free Report) had its target price boosted by Sanford C. Bernstein from $9.00 to $10.00 in a research report released on Tuesday,Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the stock.

A number of other equities analysts have also recently weighed in on SNAP. Piper Sandler cut 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. Rosenblatt Securities reduced their target price on shares of Snap from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. UBS Group reaffirmed a "neutral" rating and set a $10.00 price target (up from $9.00) on shares of Snap in a research note on Wednesday, July 16th. Truist Financial cut their price objective on shares of Snap from $14.00 to $11.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Finally, TD Cowen upped their price objective on shares of Snap from $9.00 to $10.00 and gave the company a "hold" rating in a research note on Tuesday, July 15th. Two research analysts have 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, Snap currently has an average rating of "Hold" and an average price target of $33.95.

Snap Stock Down 3.3%

SNAP traded down $0.34 during trading on Tuesday, reaching $9.73. The company's stock had a trading volume of 38,094,852 shares, compared to its average volume of 36,320,144. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.30 and a quick ratio of 4.30. The company's fifty day moving average price is $8.75 and its 200-day moving average price is $9.34. Snap has a 52-week low of $7.08 and a 52-week high of $13.95.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.12). The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.35 billion. Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The business's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS. Research analysts forecast that Snap will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Snap news, SVP Eric Young sold 117,592 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $8.59, for a total transaction of $1,010,115.28. Following the transaction, the senior vice president directly owned 3,348,290 shares in the company, valued at $28,761,811.10. This represents a 3.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ajit Mohan sold 28,201 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $9.40, for a total value of $265,089.40. Following the sale, the insider owned 5,676,293 shares in the company, valued at $53,357,154.20. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,667,802 shares of company stock worth $13,799,881 over the last 90 days. 22.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snap

Institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of Snap during the fourth quarter worth about $3,291,000. Xponance Inc. boosted its stake in Snap by 6.2% during the 4th quarter. Xponance Inc. now owns 52,450 shares of the company's stock valued at $565,000 after purchasing an additional 3,042 shares during the period. Virtu Financial LLC acquired a new position in Snap during the 4th quarter valued at about $765,000. Sei Investments Co. bought a new position in Snap in the 4th quarter worth about $158,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Snap in the fourth quarter valued at approximately $5,002,000. 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.