Brokerages Set Snap Inc. (NYSE:SNAP) Price Target at $35.62

Shares of Snap Inc. (NYSE:SNAP - Get Free Report) have been assigned an average recommendation of "Hold" from the thirty-one analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, twenty-three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $35.62.

SNAP has been the topic of a number of recent analyst reports. B. Riley cut their price target on shares of Snap from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Barclays reissued an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. Citizens Jmp raised Snap from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. JMP Securities set a $12.00 price target on Snap in a research note on Friday, April 25th. Finally, Guggenheim restated a "neutral" rating on shares of Snap in a research note on Wednesday, April 2nd.

Snap Stock Up 1.3%

SNAP stock traded up $0.11 on Friday, hitting $8.48. 25,324,866 shares of the company's stock were exchanged, compared to its average volume of 29,086,512. The firm has a 50 day moving average price of $8.30 and a two-hundred day moving average price of $9.96. Snap has a 12-month low of $7.08 and a 12-month high of $17.33. The stock has a market cap of $14.17 billion, a P/E ratio of -20.19 and a beta of 0.61. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95.

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

Insider Activity

In related news, General Counsel Michael J. O'sullivan sold 24,000 shares of Snap stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $7.74, for a total value of $185,760.00. Following the sale, the general counsel now directly owns 483,660 shares in the company, valued at approximately $3,743,528.40. The trade was a 4.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total value of $9,040,000.00. Following the sale, the chief technology officer now owns 55,818,548 shares of the company's stock, valued at approximately $504,599,673.92. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,634,313 shares of company stock worth $22,581,690 in the last quarter. Corporate insiders own 22.68% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC grew its holdings in shares of Snap by 3.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company's stock worth $335,000 after buying an additional 901 shares in the last quarter. Captrust Financial Advisors boosted its position 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 acquiring an additional 1,030 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Snap by 1.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company's stock valued at $661,000 after acquiring an additional 1,033 shares in the last quarter. Empowered Funds LLC raised its holdings in Snap by 3.1% in the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock valued at $384,000 after acquiring an additional 1,055 shares during the last quarter. Finally, Trajan Wealth LLC lifted its stake in Snap by 5.9% in the 4th quarter. Trajan Wealth LLC now owns 20,191 shares of the company's stock worth $217,000 after purchasing an additional 1,132 shares in the last quarter. Hedge funds and other 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.