Snap (NYSE:SNAP - Free Report) had its price objective raised by The Goldman Sachs Group from $12.00 to $13.50 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.
Other equities analysts have also issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Snap from $15.00 to $14.00 and set an "overweight" rating on the stock in a research report on Friday, October 4th. Evercore ISI lifted their price objective on shares of Snap from $12.00 to $15.00 and gave the company an "in-line" rating in a research report on Wednesday. Argus upgraded shares of Snap to a "hold" rating in a research report on Thursday, August 8th. HSBC lowered shares of Snap from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd. Finally, B. Riley boosted their target price on shares of Snap from $11.00 to $12.00 and gave the stock a "neutral" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $14.25.
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Snap Stock Performance
Shares of Snap stock traded up $1.71 during trading on Wednesday, reaching $12.60. The company's stock had a trading volume of 102,384,384 shares, compared to its average volume of 27,338,906. The company has a 50-day moving average price of $9.99 and a two-hundred day moving average price of $12.69. The firm has a market cap of $20.68 billion, a PE ratio of -15.56 and a beta of 1.01. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74.
Snap (NYSE:SNAP - Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.02. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. On average, analysts forecast that Snap will post -0.47 EPS for the current year.
Insider Activity at Snap
In related news, CTO Robert C. Murphy sold 1,000,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the transaction, the chief technology officer now owns 58,553,813 shares of the company's stock, valued at approximately $508,832,634.97. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Rebecca Morrow sold 8,923 shares of the company's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.10, for a total transaction of $81,199.30. Following the completion of the transaction, the chief accounting officer now owns 472,405 shares of the company's stock, valued at $4,298,885.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now directly owns 58,553,813 shares of the company's stock, valued at approximately $508,832,634.97. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,490,617 shares of company stock valued at $13,183,890. 22.68% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of SNAP. Hollencrest Capital Management acquired a new stake in Snap during the 2nd quarter worth approximately $33,000. Blue Trust Inc. increased its position in Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company's stock worth $36,000 after purchasing an additional 1,682 shares in the last quarter. Rothschild Investment LLC acquired a new stake in Snap during the 2nd quarter worth approximately $40,000. V Square Quantitative Management LLC acquired a new stake in Snap during the 3rd quarter worth approximately $29,000. Finally, Paladin Wealth LLC acquired a new stake in Snap during the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 47.52% of the company's stock.
Snap Company Profile
(
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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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