Snap (NYSE:SNAP) Stock Price Expected to Rise, Loop Capital Analyst Says

Snap (NYSE:SNAP) had its price objective lifted by research analysts at Loop Capital from $14.00 to $16.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Loop Capital’s price target points to a potential upside of 35.48% from the company’s previous close.

A number of other brokerages have also weighed in on SNAP. Argus upgraded shares of Snap to a “hold” rating in a research report on Thursday, August 8th. Stifel Nicolaus cut their price objective on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, October 14th. JPMorgan Chase & Co. reduced their target price on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Hsbc Global Res cut Snap from a “strong-buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Bank of America upped their price objective on Snap from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and an average price target of $14.31.

Snap Trading Down 3.1 %

Shares of SNAP stock opened at $11.81 on Tuesday. The stock has a fifty day simple moving average of $10.34 and a two-hundred day simple moving average of $12.73. Snap has a 52-week low of $8.29 and a 52-week high of $17.90. The firm has a market capitalization of $19.60 billion, a PE ratio of -20.36 and a beta of 0.99. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the company earned ($0.21) EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. On average, analysts predict that Snap will post -0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snap news, SVP Eric Young sold 114,097 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the sale, the senior vice president now directly owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Snap news, SVP Eric Young sold 114,097 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the transaction, the senior vice president now owns 3,041,723 shares of the company’s stock, valued at approximately $27,710,096.53. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 8,923 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $9.10, for a total transaction of $81,199.30. Following the completion of the sale, the chief accounting officer now directly owns 472,405 shares of the company’s stock, valued at $4,298,885.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,365,051 shares of company stock worth $15,965,178 in the last ninety days.

Institutional Trading of Snap

Several hedge funds and other institutional investors have recently bought and sold shares of SNAP. GraniteShares Advisors LLC lifted its stake in shares of Snap by 2.5% during the 2nd quarter. GraniteShares Advisors LLC now owns 38,154 shares of the company’s stock worth $634,000 after purchasing an additional 941 shares during the last quarter. Charles Schwab Investment Advisory Inc. lifted its position in shares of Snap by 2.7% during the first quarter. Charles Schwab Investment Advisory Inc. now owns 35,807 shares of the company’s stock valued at $411,000 after buying an additional 956 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Snap by 4.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 26,998 shares of the company’s stock valued at $448,000 after buying an additional 1,048 shares in the last quarter. Metis Global Partners LLC grew its position in shares of Snap by 6.9% in the 3rd quarter. Metis Global Partners LLC now owns 19,352 shares of the company’s stock worth $207,000 after buying an additional 1,255 shares during the last quarter. Finally, DMC Group LLC raised its stake in shares of Snap by 10.5% during the 2nd quarter. DMC Group LLC now owns 15,583 shares of the company’s stock worth $259,000 after acquiring an additional 1,477 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

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.