Brokerages Set Snap Inc. (NYSE:SNAP) Target Price at $36.99

Snap Inc. (NYSE:SNAP - Get Free Report) has been assigned a consensus rating of "Hold" from the thirty-two analysts that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, twenty-two have given a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $36.99.

SNAP has been the topic of several recent research reports. Evercore ISI raised their price target on Snap from $12.00 to $15.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. JMP Securities reissued a "market outperform" rating and set a $16.00 price objective on shares of Snap in a research note on Monday. Benchmark reaffirmed a "hold" rating on shares of Snap in a research note on Friday, October 25th. Guggenheim reissued a "buy" rating and set a $12.11 price target on shares of Snap in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of Snap from $12.00 to $13.50 and gave the company a "neutral" rating in a research report on Wednesday, October 30th.

Insiders Place Their Bets

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $12.50, for a total value of $12,500,000.00. Following the transaction, the chief technology officer now owns 57,210,989 shares in the company, valued at approximately $715,137,362.50. This represents a 1.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Michael J. O'sullivan sold 12,315 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.54, for a total transaction of $129,800.10. Following the completion of the sale, the general counsel now owns 1,195,567 shares in the company, valued at $12,601,276.18. The trade was a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,445,184 shares of company stock worth $17,482,949 in the last three months. Corporate insiders own 22.68% of the company's stock.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC acquired a new position in shares of Snap during the third quarter worth $29,000. Paladin Wealth LLC acquired a new position in Snap in the 3rd quarter valued at $30,000. Advisors Asset Management Inc. boosted its holdings in shares of Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock valued at $30,000 after acquiring an additional 1,632 shares in the last quarter. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Snap during the 4th quarter worth $32,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Snap during the 3rd quarter worth approximately $41,000. 47.52% of the stock is owned by hedge funds and other institutional investors.

Snap Stock Performance

SNAP traded up $0.43 during trading on Friday, hitting $11.62. The stock had a trading volume of 27,517,843 shares, compared to its average volume of 29,236,486. Snap has a 12 month low of $8.29 and a 12 month high of $17.50. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The firm has a market cap of $19.48 billion, a PE ratio of -20.03 and a beta of 0.98. The company has a 50 day simple moving average of $11.52 and a 200-day simple moving average of $11.03.

Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the business earned ($0.21) EPS. The firm's revenue was up 15.4% on a year-over-year basis. Analysts expect that Snap will post -0.39 EPS for the current 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.