Snap (NYSE:SNAP) Price Target Cut to $10.00 by Analysts at JPMorgan Chase & Co.

Snap (NYSE:SNAP - Get Free Report) had its target price reduced by research analysts at JPMorgan Chase & Co. from $11.00 to $10.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s target price suggests a potential downside of 8.30% from the company's current price.

A number of other brokerages have also issued reports on SNAP. UBS Group boosted their target price on shares of Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $16.00 target price on shares of Snap in a research report on Wednesday, October 30th. Evercore ISI increased their target price on shares of Snap from $12.00 to $15.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. Citigroup raised their price target on Snap from $13.00 to $13.50 and gave the stock a "neutral" rating in a report on Wednesday. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $16.00 price target on shares of Snap in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Snap has an average rating of "Hold" and a consensus price target of $36.87.

Snap Stock Performance

Shares of NYSE:SNAP traded up $0.22 on Wednesday, reaching $10.91. The company's stock had a trading volume of 31,558,889 shares, compared to its average volume of 35,096,188. The company has a 50-day simple moving average of $11.47 and a 200 day simple moving average of $10.86. The company has a debt-to-equity ratio of 1.47, a quick ratio of 4.04 and a current ratio of 3.95. Snap has a 52-week low of $8.29 and a 52-week high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts forecast that Snap will post -0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Rebecca Morrow sold 11,154 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $117,674.70. Following the completion of the sale, the chief accounting officer now directly owns 465,064 shares of the company's stock, valued at $4,906,425.20. The trade was a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Derek Andersen sold 94,164 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the transaction, the chief financial officer now directly owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. The trade was a 4.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 445,184 shares of company stock worth $4,968,189 in the last quarter. 22.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

About Snap

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.