Snap (NYSE:SNAP - Get Free Report) had its target price cut by The Goldman Sachs Group from $13.50 to $9.50 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's price target would indicate a potential upside of 20.80% from the stock's current price.
Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company reduced their price objective on Snap from $11.00 to $9.00 and set an "equal weight" rating for the company in a research note on Monday, March 31st. Guggenheim reissued a "neutral" rating on shares of Snap in a research report on Wednesday, April 2nd. Citizens Jmp upgraded shares of Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. dropped their price target on Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Citigroup lifted their target price on Snap from $13.00 to $13.50 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $35.60.
Check Out Our Latest Report on Snap
Snap Stock Up 1.6 %
SNAP stock traded up $0.12 during trading on Monday, hitting $7.86. 32,068,115 shares of the company's stock were exchanged, compared to its average volume of 28,032,991. The stock has a market capitalization of $13.34 billion, a price-to-earnings ratio of -18.72 and a beta of 0.92. Snap has a 52-week low of $7.08 and a 52-week high of $17.33. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The business has a 50-day moving average price of $9.19 and a two-hundred day moving average price of $10.57.
Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, equities research analysts expect that Snap will post -0.3 EPS for the current year.
Insiders Place Their Bets
In other news, General Counsel Michael J. O'sullivan sold 24,000 shares of Snap stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $8.60, for a total value of $206,400.00. Following the transaction, the general counsel now directly owns 507,660 shares of the company's stock, valued at $4,365,876. The trade was a 4.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Eric Young sold 102,152 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the transaction, the senior vice president now owns 3,443,419 shares in the company, valued at $37,326,661.96. The trade was a 2.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,356,523 shares of company stock valued at $12,710,077 over the last quarter. Company insiders own 22.68% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of SNAP. Captrust Financial Advisors acquired a new stake in Snap in the third quarter valued at approximately $138,000. Orion Portfolio Solutions LLC acquired a new position in Snap in the 3rd quarter worth $149,000. MML Investors Services LLC boosted its position in Snap by 6.8% in the 3rd quarter. MML Investors Services LLC now owns 25,245 shares of the company's stock valued at $270,000 after buying an additional 1,614 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Snap by 5.2% during the third quarter. Geode Capital Management LLC now owns 11,697,455 shares of the company's stock worth $124,742,000 after acquiring an additional 575,324 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its stake in shares of Snap by 37.3% in the third quarter. Sanctuary Advisors LLC now owns 82,143 shares of the company's stock worth $938,000 after acquiring an additional 22,328 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company's stock.
About Snap
(
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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.
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