Snap Inc. (NYSE:SNAP) Receives $7.91 Consensus PT from Analysts

Shares of Snap Inc. (NYSE:SNAP) have earned an average rating of “Hold” from the thirty-five brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, twenty-two have given a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $7.9056.

Several brokerages have recently issued reports on SNAP. B. Riley Financial upgraded shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Thursday, February 5th. Roth Mkm set a $7.00 target price on Snap in a report on Thursday, February 5th. BMO Capital Markets lifted their price target on Snap from $13.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, April 15th. Susquehanna reduced their price target on Snap from $9.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Finally, Mizuho dropped their price objective on shares of Snap from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, February 5th.

Snap Stock Performance

Snap stock opened at $5.72 on Friday. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.67. The stock has a market cap of $9.65 billion, a PE ratio of -23.81 and a beta of 1.05. Snap has a 12-month low of $3.81 and a 12-month high of $10.41. The business’s 50-day moving average price is $5.25 and its two-hundred day moving average price is $6.42.

Snap (NYSE:SNAP) last posted its quarterly 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). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.53 billion. Snap had a negative net margin of 6.72% and a negative return on equity of 18.92%. The company’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.08) earnings per share. As a group, analysts expect that Snap will post -0.07 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other news, General Counsel Zachary M. Briers sold 129,493 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $5.60, for a total transaction of $725,160.80. Following the completion of the transaction, the general counsel owned 2,644,538 shares of the company’s stock, valued at approximately $14,809,412.80. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Robert C. Murphy sold 2,000,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $5.44, for a total transaction of $10,880,000.00. Following the completion of the sale, the chief technology officer directly owned 47,012,324 shares in the company, valued at approximately $255,747,042.56. This represents a 4.08% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,665,427 shares of company stock worth $14,514,853. 22.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snap

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Western Wealth Management LLC acquired a new stake in Snap during the 1st quarter valued at approximately $48,000. Centaurus Financial Inc. boosted its stake in shares of Snap by 9.0% in the 1st quarter. Centaurus Financial Inc. now owns 227,072 shares of the company’s stock valued at $1,045,000 after purchasing an additional 18,700 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Snap by 135.6% during the first quarter. EverSource Wealth Advisors LLC now owns 8,525 shares of the company’s stock worth $39,000 after buying an additional 4,907 shares during the period. Riposte Capital LLC bought a new position in Snap during the first quarter worth $5,520,000. Finally, Empowered Funds LLC lifted its holdings in Snap by 39.8% in the first quarter. Empowered Funds LLC now owns 338,774 shares of the company’s stock valued at $1,558,000 after buying an additional 96,495 shares during the period. 47.52% of the stock is owned by institutional investors and hedge funds.

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.