Snap Inc. (NYSE:SNAP) Receives $36.47 Average Price Target from Analysts

Shares of Snap Inc. (NYSE:SNAP - Get Free Report) have been assigned a consensus rating of "Hold" from the thirty-three brokerages that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, twenty-four have given a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $36.17.

SNAP has been the topic of several recent research reports. Piper Sandler decreased their price target on Snap from $13.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday. Citizens Jmp raised shares of Snap from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. The Goldman Sachs Group lowered their target price on shares of Snap from $13.50 to $9.50 and set a "neutral" rating for the company in a report on Monday. JMP Securities reissued a "market outperform" rating and issued a $16.00 price objective on shares of Snap in a research note on Monday, January 27th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $16.00 target price (down previously from $18.00) on shares of Snap in a research note on Wednesday, January 15th.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O'sullivan sold 24,000 shares of the company's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $8.60, for a total value of $206,400.00. Following the sale, the general counsel now directly owns 507,660 shares of the company's stock, valued at approximately $4,365,876. This represents a 4.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Derek Andersen sold 22,720 shares of the stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $8.58, for a total value of $194,937.60. Following the sale, the chief financial officer now directly owns 3,541,515 shares in the company, valued at $30,386,198.70. This represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,356,523 shares of company stock worth $12,710,077 in the last 90 days. Insiders own 22.68% of the company's stock.

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Institutional Trading of Snap

A number of hedge funds have recently modified their holdings of the stock. Mountain Hill Investment Partners Corp. acquired a new position in Snap in the fourth quarter valued at approximately $27,000. Raiffeisen Bank International AG acquired a new position in shares of Snap in the 4th quarter valued at $30,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Snap during the fourth quarter worth $32,000. NBC Securities Inc. boosted its holdings in Snap by 154,650.0% during the first quarter. NBC Securities Inc. now owns 3,095 shares of the company's stock worth $26,000 after buying an additional 3,093 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new stake in Snap during the fourth quarter valued at $43,000. Hedge funds and other institutional investors own 47.52% of the company's stock.

Snap Price Performance

Shares of SNAP traded down $0.07 during mid-day trading on Friday, hitting $7.89. 26,039,368 shares of the stock were exchanged, compared to its average volume of 30,911,480. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The company has a market cap of $13.38 billion, a PE ratio of -18.79 and a beta of 0.92. Snap has a 52-week low of $7.08 and a 52-week high of $17.33. The firm has a 50-day moving average of $9.48 and a two-hundred day moving average of $10.67.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (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%. On average, equities analysts predict that Snap will post -0.3 earnings per share for the current year.

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.