Snap (NYSE:SNAP - Free Report) had its price target decreased by JPMorgan Chase & Co. from $10.00 to $8.00 in a research report sent to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an underweight rating on the stock.
Several other brokerages also recently weighed in on SNAP. Susquehanna increased 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. Bank of America increased their price objective on shares of Snap from $14.00 to $14.50 and gave the stock a "neutral" rating in a report on Wednesday, February 5th. Citizens Jmp raised shares of Snap from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. Barclays restated an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. Finally, Guggenheim reiterated a "neutral" rating on shares of Snap in a report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $36.32.
View Our Latest Report on Snap
Snap Stock Performance
SNAP stock traded up $0.16 during trading on Tuesday, hitting $7.99. 28,400,778 shares of the company traded hands, compared to its average volume of 28,170,095. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap has a 1 year low of $7.08 and a 1 year high of $17.33. The stock's 50-day simple moving average is $9.48 and its 200 day simple moving average is $10.67. The company has a market cap of $13.55 billion, a PE ratio of -19.01 and a beta of 0.92.
Snap (NYSE:SNAP - Get Free Report) last issued its earnings results on Tuesday, February 4th. The company reported $0.01 EPS 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%. On average, equities analysts expect that Snap will post -0.3 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Derek Andersen sold 61,334 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $664,860.56. Following the transaction, the chief financial officer now owns 3,564,235 shares in the company, valued at $38,636,307.40. The trade was a 1.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Rebecca Morrow sold 8,837 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the sale, the chief accounting officer now owns 429,892 shares of the company's stock, valued at $4,660,029.28. This trade represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,356,523 shares of company stock worth $12,710,077. Company insiders own 22.68% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors lifted its stake in shares of Snap by 38.9% during the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company's stock worth $906,161,000 after purchasing an additional 23,569,522 shares during the period. SRS Investment Management LLC increased its holdings in Snap by 1.4% in the fourth quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company's stock valued at $793,998,000 after buying an additional 1,001,632 shares during the last quarter. Capital International Investors acquired a new stake in shares of Snap during the fourth quarter worth $422,049,000. Geode Capital Management LLC boosted its position in Snap by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company's stock valued at $127,078,000 after purchasing an additional 134,017 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Snap by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company's stock valued at $76,201,000 after acquiring an additional 828,285 shares in the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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