Snap Inc. (NYSE:SNAP) Receives $8.17 Consensus Price Target from Analysts

Shares of Snap Inc. (NYSE:SNAP) have been given a consensus recommendation of “Hold” by the twenty-nine brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $8.1574.

A number of brokerages have weighed in on SNAP. Canaccord Genuity Group lowered their price target on shares of Snap from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. Bank of America upgraded shares of Snap from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Thursday, February 5th. Morgan Stanley lowered their price target on shares of Snap from $9.50 to $6.50 and set an “equal weight” rating for the company in a research report on Sunday, February 22nd. 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 research report on Thursday, February 5th. Finally, BNP Paribas Exane began coverage on shares of Snap in a research report on Wednesday, January 14th. They set a “strong sell” rating for the company.

Snap Stock Down 4.7%

Shares of NYSE:SNAP opened at $5.57 on Tuesday. The stock has a market capitalization of $9.40 billion, a price-to-earnings ratio of -20.61 and a beta of 0.91. Snap has a 1-year low of $3.81 and a 1-year high of $10.41. The company’s fifty day moving average is $4.97 and its two-hundred day moving average is $6.71. The company has a debt-to-equity ratio of 1.53, a quick ratio of 3.56 and a current ratio of 3.56.

Snap (NYSE:SNAP) last issued its earnings results on Wednesday, February 4th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.70 billion. Snap had a negative return on equity of 20.72% and a negative net margin of 7.76%.The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the company posted $0.01 earnings per share. Equities analysts anticipate that Snap will post -0.12 EPS for the current year.

Insider Buying and Selling at Snap

In other news, General Counsel Zachary M. Briers sold 134,705 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $4.70, for a total transaction of $633,113.50. Following the completion of the transaction, the general counsel owned 2,854,088 shares in the company, valued at approximately $13,414,213.60. This represents a 4.51% 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. Also, insider Ajit Mohan sold 119,339 shares of the company’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 $560,893.30. Following the transaction, the insider owned 5,158,477 shares of the company’s stock, valued at $24,244,841.90. This represents a 2.26% decrease in their position. 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 valued at $13,329,781. Corporate insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several institutional investors have recently modified their holdings of SNAP. Allworth Financial LP grew its position in Snap by 92.3% in the 3rd quarter. Allworth Financial LP now owns 3,293 shares of the company’s stock valued at $25,000 after buying an additional 1,581 shares in the last quarter. Oak Harvest Investment Services bought a new position in Snap in the 4th quarter valued at about $26,000. Arax Advisory Partners grew 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 buying an additional 2,275 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Snap in the 4th quarter valued at about $29,000. Finally, EverSource Wealth Advisors LLC grew its position in Snap by 561.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,618 shares of the company’s stock valued at $29,000 after buying an additional 3,071 shares in the last quarter. Institutional investors own 47.52% of the company’s stock.

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.