Citigroup Lowers Snap (NYSE:SNAP) Price Target to $9.00

Snap (NYSE:SNAP - Free Report) had its price objective reduced by Citigroup from $13.50 to $9.00 in a report released on Monday, MarketBeat.com reports. They currently have a neutral rating on the stock.

Several other equities analysts have also recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Snap from $11.00 to $9.00 and set an "equal weight" rating on the stock in a research note on Monday, March 31st. The Goldman Sachs Group dropped their price target on shares of Snap from $13.50 to $9.50 and set a "neutral" rating on the stock in a research note on Monday. Guggenheim reaffirmed a "neutral" rating on shares of Snap in a report on Wednesday, April 2nd. Barclays reissued an "overweight" rating on shares of Snap in a report on Wednesday, February 5th. Finally, JMP Securities reissued a "market outperform" rating and issued a $16.00 target price on shares of Snap in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $35.60.

Snap Stock Up 1.6 %

Shares of Snap stock traded up $0.12 on Monday, reaching $7.86. The company's stock had a trading volume of 32,068,115 shares, compared to its average volume of 28,032,991. The company has a market capitalization of $13.34 billion, a price-to-earnings ratio of -18.72 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 52 week low of $7.08 and a 52 week high of $17.33. The firm's fifty day simple moving average is $9.25 and its two-hundred day simple moving average is $10.59.

Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share 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%. Equities analysts anticipate that Snap will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Snap

In related news, SVP Eric Young sold 102,152 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the sale, the senior vice president now directly owns 3,443,419 shares in the company, valued at $37,326,661.96. This represents a 2.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Derek Andersen sold 22,720 shares of Snap stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $8.58, for a total value of $194,937.60. Following the completion of the transaction, the chief financial officer now owns 3,541,515 shares in the company, valued at $30,386,198.70. This trade represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,356,523 shares of company stock worth $12,710,077 over the last 90 days. Company insiders own 22.68% of the company's stock.

Institutional Trading of Snap

A number of institutional investors have recently modified their holdings of the company. Checchi Capital Advisers LLC lifted its position in Snap by 3.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 31,126 shares of the company's stock valued at $335,000 after acquiring an additional 901 shares during the last quarter. HCR Wealth Advisors lifted its holdings in shares of Snap by 3.9% during the 4th quarter. HCR Wealth Advisors now owns 25,016 shares of the company's stock valued at $269,000 after purchasing an additional 934 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of Snap by 8.0% in the 4th quarter. Captrust Financial Advisors now owns 13,918 shares of the company's stock worth $150,000 after purchasing an additional 1,030 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Snap by 1.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 61,365 shares of the company's stock worth $661,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in Snap by 3.1% during the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock worth $384,000 after buying an additional 1,055 shares during the last quarter. 47.52% of the stock is currently 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.