Brokerages Set Snap Inc. (NYSE:SNAP) Price Target at $14.10

Snap Inc. (NYSE:SNAP - Get Free Report) has received a consensus recommendation of "Hold" from the twenty-nine research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and seven have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $14.10.

Several research analysts have recently weighed in on SNAP shares. JPMorgan Chase & Co. dropped their target price on shares of Snap from $13.00 to $11.00 and set an "underweight" rating on the stock in a research report on Friday, August 2nd. Wolfe Research assumed coverage on shares of Snap in a research report on Tuesday, July 16th. They set a "peer perform" rating on the stock. Barclays reduced their target price on Snap from $17.00 to $16.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. Truist Financial lowered their price target on Snap from $16.00 to $13.00 and set a "hold" rating on the stock in a report on Friday, August 2nd. Finally, HSBC downgraded Snap from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd.

Snap Price Performance

Shares of NYSE:SNAP traded up $0.04 on Thursday, reaching $9.22. 14,382,449 shares of the company traded hands, compared to its average volume of 27,625,252. The stock has a market capitalization of $15.13 billion, a PE ratio of -11.38 and a beta of 1.03. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The company's 50 day moving average is $12.84 and its 200-day moving average is $13.01. Snap has a fifty-two week low of $8.28 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. As a group, analysts anticipate that Snap will post -0.48 earnings per share for the current fiscal year.

Insider Activity at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of Snap stock in a transaction dated Tuesday, August 6th. The stock was 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 in the company, valued at $508,832,634.97. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel Michael J. O'sullivan sold 12,512 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $9.11, for a total transaction of $113,984.32. Following the completion of the sale, the general counsel now owns 1,328,085 shares of the company's stock, valued at $12,098,854.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business's stock in a transaction on 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 completion of the sale, the chief technology officer now directly owns 58,553,813 shares in the company, valued at $508,832,634.97. The disclosure for this sale can be found here. Insiders sold a total of 1,356,370 shares of company stock worth $12,254,383 in the last quarter. Corporate insiders own 22.68% of the company's stock.

Hedge Funds Weigh In On Snap

A number of large investors have recently added to or reduced their stakes in the company. NBC Securities Inc. boosted its position in shares of Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company's stock worth $25,000 after buying an additional 1,445 shares during the period. Hollencrest Capital Management bought a new stake in Snap in the 2nd quarter valued at approximately $33,000. Blue Trust Inc. boosted 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 acquiring an additional 1,682 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Snap during the 2nd quarter worth approximately $40,000. Finally, J.Safra Asset Management Corp raised its holdings in shares of Snap by 534.4% in the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company's stock valued at $46,000 after purchasing an additional 2,330 shares during the last quarter. Institutional investors 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.