Snap (NYSE:SNAP – Get Free Report) had its target price upped by equities research analysts at Wells Fargo & Company from $6.00 to $7.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 12.87% from the company’s current price.
SNAP has been the subject of a number of other reports. Loop Capital set a $8.00 target price on shares of Snap in a research report on Monday, February 23rd. Stifel Nicolaus upped their price objective on shares of Snap from $4.50 to $5.25 and gave the company a “hold” rating in a report on Tuesday, April 21st. Evercore reiterated a “mixed” rating on shares of Snap in a report on Thursday, February 5th. Bank of America upgraded Snap from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Thursday, February 5th. Finally, Citizens Jmp reissued a “market perform” rating on shares of Snap in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, twenty have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Snap has a consensus rating of “Hold” and an average price target of $7.94.
View Our Latest Analysis on SNAP
Snap Trading Up 1.5%
Snap (NYSE:SNAP – Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.14). Snap had a negative net margin of 7.76% and a negative return on equity of 20.72%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm earned ($0.08) earnings per share. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. Research analysts forecast that Snap will post -0.12 earnings per share for the current fiscal year.
Insider Buying and Selling at Snap
In related news, CAO Rebecca Morrow sold 16,499 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total value of $77,545.30. Following the completion of the sale, the chief accounting officer directly owned 466,682 shares of the company’s stock, valued at $2,193,405.40. The trade was a 3.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $5.36, for a total value of $5,360,000.00. Following the completion of the sale, the chief technology officer directly owned 49,313,775 shares of the company’s stock, valued at $264,321,834. The trade was a 1.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,565,573 shares of company stock worth $13,329,781. 22.68% of the stock is owned by insiders.
Institutional Trading of Snap
A number of large investors have recently bought and sold shares of the business. Allworth Financial LP increased its stake in Snap by 92.3% in the third quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after purchasing an additional 1,581 shares during the period. Oak Harvest Investment Services purchased a new position in shares of Snap during the fourth quarter worth about $26,000. Arax Advisory Partners increased its position in Snap by 220.0% in the 4th quarter. Arax Advisory Partners now owns 3,309 shares of the company’s stock valued at $27,000 after acquiring an additional 2,275 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Snap in the 4th quarter valued at approximately $29,000. Finally, EverSource Wealth Advisors LLC raised its stake 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 last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.
Snap News Roundup
Here are the key news stories impacting Snap this week:
- Positive Sentiment: Q1 revenue and user growth — Snap reported ~12% year?over?year revenue growth and a return to daily active user growth outside North America/Europe, which supports the ad-revenue recovery narrative. Snap’s quarterly revenue rises, daily active users return to growth
- Positive Sentiment: Some outlets note upside vs. expectations on metrics — select analyst write-ups highlight revenue and certain metrics that beat or matched Street estimates, giving a constructive read on the core ad business. Snap Q1 earnings and revenues surpass estimates
- Neutral Sentiment: Mixed quarter — revenue came roughly in line with consensus while EPS was reported below some street estimates, leaving the quarter mixed rather than outright positive. Snap Q1 earnings summary
- Neutral Sentiment: Heightened investor activity — unusually large call-option volume ahead of/around the print suggests active speculative positioning; that can amplify intraday moves. (reported market activity)
- Neutral Sentiment: Corporate moves and talent flow — former Snap CFO Derek Andersen was hired as Expedia’s CFO; talent moves can matter for investor perception but are not an immediate earnings impact. How Investors Are Reacting To Expedia Hiring Snap Veteran Derek Andersen As CFO
- Negative Sentiment: Perplexity AI partnership canceled — Snap said an announced ~$400M integration with AI start?up Perplexity was “amicably ended,” removing an expected near?term AI contribution and raising questions about Snap’s AI roadmap. Snap says its $400M deal with Perplexity ‘amicably ended’
- Negative Sentiment: Cautious / disappointing guidance — management issued cautious Q2 guidance that many investors viewed as soft, increasing downside risk to near-term revenue expectations. Snap Stock Slips as Guidance Disappoints, Perplexity Deal Ends
- Negative Sentiment: Shareholder/legal pressure — an activist campaign has pushed for strategic and governance changes, and a law firm has opened an investor investigation, both of which raise near?term uncertainty and potential legal/board costs. Randian Activist Push Puts Snap Specs Review And Valuation In Focus Pomerantz investor alert
- Negative Sentiment: Negative headlines and analyst commentary — several bearish pieces and coverage framed the quarter as a “trainwreck” and flagged activist momentum, which can pressure sentiment and amplify selling. Investors Should Dump Snap Stock As Fast As They Can Snap Stock Dives After Earnings. Its Flagship AI Deal Is Dead
Snap Company Profile
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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