Stifel Nicolaus Issues Positive Forecast for Snap (NYSE:SNAP) Stock Price

Key Points

• Stifel Nicolaus raised its price objective on Snap from $4.50 to $5.25 but kept a "hold" rating, which implies about a 12.69% downside from the stock's current price.
• Consensus among analysts remains a Hold with an average price target of $8.16 (1 Strong Buy, 5 Buy, 20 Hold, 3 Sell).
• Snap's latest quarter showed an EPS of $0.03 (miss vs. $0.15 est.) and revenue of $1.72B (+10.2% y/y); insiders sold about 2.56M shares in the last 90 days and the stock trades near $6 (market cap ~$10.2B).

Snap (NYSE:SNAP - Get Free Report) had its price objective upped by research analysts at Stifel Nicolaus from $4.50 to $5.25 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Stifel Nicolaus' price objective points to a potential downside of 12.69% from the stock's current price.

Several other equities analysts have also recently issued reports on SNAP. TD Cowen decreased their price target on Snap from $9.00 to $8.00 and set a "hold" rating on the stock in a report on Thursday, February 5th. Roth Mkm set a $7.00 price target on Snap in a report on Thursday, February 5th. Loop Capital set a $8.00 price target on Snap in a report on Monday, February 23rd. The Goldman Sachs Group decreased their price target on Snap from $9.50 to $8.50 and set a "neutral" rating on the stock in a report on Tuesday, January 13th. Finally, Evercore restated a "mixed" rating on shares of Snap in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twenty have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $8.16.

Snap Price Performance

Snap stock opened at $6.01 on Tuesday. The business's 50-day simple moving average is $4.93 and its 200 day simple moving average is $6.75. The stock has a market cap of $10.16 billion, a price-to-earnings ratio of -22.27 and a beta of 0.91. Snap has a 12-month low of $3.81 and a 12-month high of $10.41. The company has a quick ratio of 3.56, a current ratio of 3.56 and a debt-to-equity ratio of 1.53.

Snap (NYSE:SNAP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.12). The firm had revenue of $1.72 billion during the quarter, compared to the consensus estimate of $1.70 billion. Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. Snap's revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 EPS. As a group, research analysts anticipate that Snap will post -0.14 earnings per share for the current year.

Insider Activity

In other Snap news, CAO Rebecca Morrow sold 16,499 shares of the firm's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total transaction of $77,545.30. Following the transaction, the chief accounting officer owned 466,682 shares in the company, valued at approximately $2,193,405.40. This trade represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Zachary M. Briers sold 134,705 shares of the firm's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $4.70, for a total value of $633,113.50. Following the transaction, the general counsel owned 2,854,088 shares in the company, valued at approximately $13,414,213.60. This trade represents a 4.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 2,565,573 shares of company stock valued at $13,329,781.

Institutional Investors Weigh In On Snap

Hedge funds have recently modified their holdings of the business. Allworth Financial LP raised its position in shares of Snap by 92.3% during the third quarter. Allworth Financial LP now owns 3,293 shares of the company's stock worth $25,000 after purchasing an additional 1,581 shares during the period. Arax Advisory Partners raised its position in shares of Snap by 220.0% during the fourth quarter. Arax Advisory Partners now owns 3,309 shares of the company's stock worth $27,000 after purchasing an additional 2,275 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Snap during the fourth quarter worth about $29,000. EverSource Wealth Advisors LLC raised its position in shares of Snap by 561.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company's stock worth $29,000 after purchasing an additional 3,071 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Snap during the third quarter worth about $33,000. Institutional investors and hedge funds own 47.52% of the company's stock.

About Snap

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.

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