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

Snap Inc. (NYSE:SNAP - Get Free Report) has received a consensus rating of "Hold" from the thirty-one analysts that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $35.62.

A number of research analysts have recently weighed in on SNAP shares. Stifel Nicolaus dropped their price target on Snap from $11.00 to $8.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. cut their target price on shares of Snap from $10.00 to $8.00 and set an "underweight" rating for the company in a research report on Tuesday, April 8th. Loop Capital cut their price objective on Snap from $16.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 16th. B. Riley reduced their target price on Snap from $12.00 to $10.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Finally, Morgan Stanley dropped their price target on Snap from $8.00 to $6.50 and set an "equal weight" rating for the company in a research report on Thursday, May 1st.

Insider Transactions at Snap

In other news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the sale, the chief technology officer now directly owns 55,818,548 shares of the company's stock, valued at approximately $504,599,673.92. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 9,202 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $8.59, for a total value of $79,045.18. Following the completion of the transaction, the chief accounting officer now directly owns 448,881 shares in the company, valued at approximately $3,855,887.79. The trade was a 2.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,586,313 shares of company stock valued at $22,190,490 over the last quarter. Company insiders own 22.68% of the company's stock.

Institutional Trading of Snap

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers grew its position in shares of Snap by 10.2% in the 1st quarter. Rhumbline Advisers now owns 192,210 shares of the company's stock worth $1,674,000 after acquiring an additional 17,868 shares in the last quarter. Mattson Financial Services LLC increased its stake in Snap by 44.9% during the first quarter. Mattson Financial Services LLC now owns 13,689 shares of the company's stock valued at $119,000 after purchasing an additional 4,239 shares during the last quarter. IFM Investors Pty Ltd raised its holdings in shares of Snap by 7.4% during the first quarter. IFM Investors Pty Ltd now owns 203,431 shares of the company's stock worth $1,772,000 after purchasing an additional 14,032 shares during the period. Ilmarinen Mutual Pension Insurance Co bought a new position in shares of Snap in the 1st quarter worth about $1,437,000. Finally, Bayforest Capital Ltd bought a new position in shares of Snap in the 1st quarter worth about $694,000. 47.52% of the stock is owned by institutional investors.

Snap Price Performance

Snap stock traded down $0.03 during midday trading on Friday, reaching $8.25. The company's stock had a trading volume of 27,186,866 shares, compared to its average volume of 29,050,288. The firm has a market capitalization of $13.79 billion, a PE ratio of -19.64 and a beta of 0.61. Snap has a fifty-two week low of $7.08 and a fifty-two week high of $17.33. The stock's 50 day simple moving average is $8.35 and its 200 day simple moving average is $10.00. 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 earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company's quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts forecast that Snap will post -0.3 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.