Snap (NYSE:SNAP) Stock Price Expected to Rise, TD Cowen Analyst Says

Snap (NYSE:SNAP - Free Report) had its target price lifted by TD Cowen from $9.00 to $10.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts have also recently issued reports about the company. Loop Capital reduced their price target on Snap from $16.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. BMO Capital Markets cut their target price on Snap from $16.00 to $13.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Cantor Fitzgerald set a $7.00 target price on Snap and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. JMP Securities set a $12.00 target price on Snap in a research note on Friday, April 25th. Finally, Citizens Jmp raised Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $34.79.

Snap Trading Up 3.0%

SNAP stock traded up $0.29 during midday trading on Tuesday, hitting $9.95. The company had a trading volume of 23,712,203 shares, compared to its average volume of 31,204,465. The company has a current ratio of 4.30, a quick ratio of 4.30 and a debt-to-equity ratio of 1.55. Snap has a 52 week low of $7.08 and a 52 week high of $15.75. The stock's 50 day moving average price is $8.62 and its 200 day moving average price is $9.37. The stock has a market cap of $16.62 billion, a price-to-earnings ratio of -32.11 and a beta of 0.59.

Snap (NYSE:SNAP - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative net margin of 9.63% and a negative return on equity of 21.53%. The business had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.35 billion. During the same period last year, the firm posted $0.03 earnings per share. Snap's quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts expect that Snap will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other news, General Counsel Michael J. O'sullivan sold 68,845 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $8.59, for a total value of $591,378.55. Following the transaction, the general counsel owned 2,173,950 shares of the company's stock, valued at $18,674,230.50. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ajit Mohan sold 27,608 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $8.04, for a total value of $221,968.32. Following the completion of the transaction, the insider directly owned 2,526,855 shares in the company, valued at $20,315,914.20. This trade represents a 1.08% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,639,601 shares of company stock valued at $13,534,791. Company insiders own 22.68% of the company's stock.

Institutional Trading of Snap

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC increased its stake in Snap by 169.9% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the company's stock worth $26,000 after acquiring an additional 1,852 shares during the last quarter. Avaii Wealth Management LLC increased its stake in Snap by 65.3% in the 2nd quarter. Avaii Wealth Management LLC now owns 71,509 shares of the company's stock worth $621,000 after acquiring an additional 28,245 shares during the last quarter. North Star Investment Management Corp. increased its stake in Snap by 1,400.0% in the 2nd quarter. North Star Investment Management Corp. now owns 15,000 shares of the company's stock worth $130,000 after acquiring an additional 14,000 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Snap by 645.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 13,217 shares of the company's stock worth $115,000 after acquiring an additional 11,445 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its stake in Snap by 4.8% in the 2nd quarter. IFM Investors Pty Ltd now owns 213,264 shares of the company's stock worth $1,853,000 after acquiring an additional 9,833 shares during the last quarter. 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.