Snap (NYSE:SNAP) Trading Up 4.6% Following Analyst Upgrade

Snap Inc. (NYSE:SNAP)’s share price was up 4.6% during trading on Tuesday after Susquehanna raised their price target on the stock from $12.00 to $15.00. Susquehanna currently has a neutral rating on the stock. Snap traded as high as $15.33 and last traded at $15.15. Approximately 13,059,674 shares changed hands during trading, a decline of 59% from the average daily volume of 31,847,402 shares. The stock had previously closed at $14.49.

Other analysts have also recently issued research reports about the company. Barclays upped their price target on Snap from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Royal Bank of Canada increased their target price on Snap from $13.00 to $16.00 and gave the stock a “sector perform” rating in a research report on Friday, April 26th. Evercore ISI increased their target price on Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a research report on Friday, April 26th. Benchmark reiterated a “hold” rating on shares of Snap in a research report on Friday, April 26th. Finally, TD Cowen increased their target price on Snap from $11.00 to $14.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap has an average rating of “Hold” and an average price target of $14.79.

Insider Buying and Selling at Snap

In other news, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total value of $1,666,500.00. Following the completion of the transaction, the chief executive officer now directly owns 3,627,844 shares of the company’s stock, valued at approximately $40,305,346.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Eric Young sold 120,472 shares of the business’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 approximately $39,409,682.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total value of $1,666,500.00. Following the transaction, the chief executive officer now owns 3,627,844 shares in the company, valued at $40,305,346.84. The disclosure for this sale can be found here. Insiders sold a total of 457,482 shares of company stock valued at $5,074,011 in the last ninety days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Snap by 3.8% during the 4th quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock valued at $1,613,729,000 after purchasing an additional 3,503,230 shares during the last quarter. SRS Investment Management LLC grew its stake in Snap by 23.6% during the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after purchasing an additional 12,452,415 shares during the last quarter. Capital World Investors grew its stake in Snap by 0.6% during the 4th quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock valued at $776,868,000 after purchasing an additional 274,176 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in Snap by 4.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock valued at $73,666,000 after purchasing an additional 327,038 shares during the last quarter. Finally, Carmignac Gestion purchased a new stake in Snap during the 4th quarter valued at about $110,103,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

Snap Trading Up 3.9 %

The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The company has a 50 day simple moving average of $11.41 and a two-hundred day simple moving average of $12.97. The firm has a market cap of $24.86 billion, a PE ratio of -18.59 and a beta of 1.13.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The firm had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. Analysts expect that Snap Inc. will post -0.58 EPS for the current fiscal year.

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.