Snap (NYSE:SNAP - Free Report) had its price objective trimmed by Bank of America from $14.50 to $10.50 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.
A number of other equities analysts have also recently commented on SNAP. JMP Securities reiterated a "market outperform" rating and set a $16.00 price target on shares of Snap in a report on Monday, January 27th. Wells Fargo & Company decreased their target price on Snap from $11.00 to $9.00 and set an "equal weight" rating on the stock in a report on Monday, March 31st. Citizens Jmp upgraded shares of Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. JPMorgan Chase & Co. lowered their target price on Snap from $10.00 to $8.00 and set an "underweight" rating on the stock in a research note on Tuesday, April 8th. Finally, Susquehanna lifted their price target on Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $36.32.
Check Out Our Latest Stock Analysis on SNAP
Snap Stock Down 1.4 %
Shares of NYSE:SNAP traded down $0.11 during trading on Wednesday, hitting $7.85. 11,513,233 shares of the company were exchanged, compared to its average volume of 28,130,754. Snap has a fifty-two week low of $7.08 and a fifty-two week high of $17.33. The stock has a market cap of $13.32 billion, a price-to-earnings ratio of -18.69 and a beta of 0.92. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm has a fifty day moving average price of $9.48 and a two-hundred day moving average price of $10.67.
Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, research analysts anticipate that Snap will post -0.3 earnings per share for the current fiscal year.
Insider Transactions at Snap
In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $9.04, for a total transaction of $9,040,000.00. Following the transaction, the chief technology officer now directly owns 55,818,548 shares in the company, valued at approximately $504,599,673.92. This represents a 1.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. O'sullivan sold 18,000 shares of Snap stock in a transaction on Friday, January 31st. The shares were sold at an average price of $11.49, for a total transaction of $206,820.00. Following the completion of the sale, the general counsel now owns 480,498 shares of the company's stock, valued at $5,520,922.02. This represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,356,523 shares of company stock worth $12,710,077. Company insiders own 22.68% of the company's stock.
Institutional Investors Weigh In On Snap
A number of large investors have recently bought and sold shares of the stock. NBC Securities Inc. boosted its position in shares of Snap by 154,650.0% during the 1st quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after purchasing an additional 3,093 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new position in Snap in the fourth quarter worth approximately $27,000. Raiffeisen Bank International AG bought a new position in Snap in the fourth quarter worth approximately $30,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Snap in the fourth quarter valued at approximately $32,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Snap during the fourth quarter valued at approximately $43,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.
About Snap
(
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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.
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