Canaccord Genuity Group Raises Snap (NYSE:SNAP) Price Target to $15.00

Snap (NYSE:SNAP) had its price target raised by Canaccord Genuity Group from $14.00 to $15.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other analysts also recently weighed in on the stock. Rosenblatt Securities upped their target price on shares of Snap from $12.00 to $14.00 and gave the stock a neutral rating in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of Snap from a hold rating to a buy rating and upped their price objective for the stock from $10.00 to $19.00 in a report on Friday, January 26th. Susquehanna lifted their target price on shares of Snap from $9.50 to $12.00 and gave the company a neutral rating in a report on Wednesday, February 7th. Stifel Nicolaus cut their price target on Snap from $14.00 to $12.00 and set a hold rating on the stock in a research note on Tuesday, April 16th. Finally, HSBC upgraded Snap from a reduce rating to a buy rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $14.79.

Snap Stock Down 0.4 %

Shares of NYSE SNAP opened at $14.49 on Friday. The firm has a fifty day simple moving average of $11.33 and a two-hundred day simple moving average of $12.93. Snap has a 12 month low of $7.86 and a 12 month high of $17.90. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $23.92 billion, a PE ratio of -17.89 and a beta of 1.13.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.10. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. Equities analysts expect that Snap will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In other Snap news, SVP Eric Young sold 120,472 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the transaction, the senior vice president now directly owns 3,540,852 shares in the company, valued at $39,409,682.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap news, SVP Eric Young sold 120,472 shares of Snap stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the transaction, the senior vice president now directly owns 3,540,852 shares of the company’s stock, valued at approximately $39,409,682.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Evan Spiegel sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the sale, the chief executive officer now directly owns 3,627,844 shares in the company, valued at $40,305,346.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 470,482 shares of company stock valued at $5,284,091. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Hedge funds and other institutional investors have recently bought and sold shares of the stock. NBC Securities Inc. grew its position in shares of Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after acquiring an additional 1,445 shares during the last quarter. Allworth Financial LP increased its stake in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after purchasing an additional 1,708 shares during the period. ICA Group Wealth Management LLC purchased a new stake in shares of Snap in the fourth quarter valued at about $51,000. Rakuten Securities Inc. acquired a new stake in shares of Snap during the fourth quarter worth about $73,000. Finally, Westpac Banking Corp grew its holdings in shares of Snap by 108.7% during the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after buying an additional 2,506 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.