Snap (NYSE:SNAP) Price Target Cut to $8.00 by Analysts at Morgan Stanley

Snap (NYSE:SNAP - Get Free Report) had its price target decreased by stock analysts at Morgan Stanley from $10.00 to $8.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Morgan Stanley's price objective suggests a potential upside of 2.04% from the company's current price.

A number of other research analysts have also issued reports on SNAP. Barclays restated an "overweight" rating on shares of Snap in a research report on Wednesday, February 5th. Bank of America reduced their price target on Snap from $14.50 to $10.50 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Guggenheim reiterated a "neutral" rating on shares of Snap in a research report on Wednesday, April 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $16.00 price target on shares of Snap in a research note on Monday, January 27th. Finally, Citigroup reduced their price objective on shares of Snap from $13.50 to $9.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Snap presently has a consensus rating of "Hold" and an average price target of $35.60.

Snap Stock Performance

Shares of Snap stock traded up $0.23 on Thursday, hitting $7.84. The stock had a trading volume of 24,851,332 shares, compared to its average volume of 28,009,096. The stock has a market cap of $13.30 billion, a price-to-earnings ratio of -18.67 and a beta of 0.92. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47. Snap has a twelve month low of $7.08 and a twelve month high of $17.33. The business's 50 day moving average is $9.13 and its two-hundred day moving average is $10.54.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data 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 net margin of 13.02% and a negative return on equity of 25.67%. Analysts forecast that Snap will post -0.3 EPS for the current year.

Insider Transactions at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated 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 completion of the transaction, the chief technology officer now owns 55,818,548 shares in the company, valued at approximately $504,599,673.92. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 8,837 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $95,793.08. Following the completion of the transaction, the chief accounting officer now owns 429,892 shares in the company, valued at $4,660,029.28. This represents a 2.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,356,523 shares of company stock worth $12,710,077 over the last three months. 22.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently added to or reduced their stakes in the company. Mountain Hill Investment Partners Corp. purchased a new position in shares of Snap in the 4th quarter worth approximately $27,000. Raiffeisen Bank International AG purchased a new position in Snap in the fourth quarter worth $30,000. Comprehensive Financial Planning Inc. PA bought a new position in Snap in the 4th quarter valued at $32,000. NBC Securities Inc. raised its stake 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 during the period. Finally, Rakuten Securities Inc. boosted its holdings in shares of Snap by 155.4% in the 1st quarter. Rakuten Securities Inc. now owns 3,489 shares of the company's stock worth $30,000 after buying an additional 2,123 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

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.