Snap (NYSE:SNAP) Price Target Raised to $13.50

Snap (NYSE:SNAP - Free Report) had its target price boosted by Citigroup from $13.00 to $13.50 in a research note issued to investors on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

SNAP has been the topic of a number of other reports. Stifel Nicolaus cut their price objective on Snap from $13.00 to $11.00 and set a "hold" rating on the stock in a research note on Monday, October 14th. The Goldman Sachs Group lifted their price objective on Snap from $12.00 to $13.50 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Wells Fargo & Company cut shares of Snap from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $15.00 to $11.00 in a research note on Wednesday. JMP Securities restated a "market outperform" rating and issued a $16.00 price objective on shares of Snap in a research report on Monday, January 27th. Finally, Evercore ISI upped their price objective on Snap from $12.00 to $15.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $36.87.

Snap Trading Up 2.0 %

Shares of NYSE:SNAP traded up $0.22 on Wednesday, hitting $10.91. The company's stock had a trading volume of 31,558,889 shares, compared to its average volume of 35,096,188. The company has a current ratio of 3.95, a quick ratio of 4.04 and a debt-to-equity ratio of 1.47. Snap has a 12 month low of $8.29 and a 12 month high of $17.33. The stock's 50-day moving average is $11.47 and its two-hundred day moving average is $10.86.

Snap (NYSE:SNAP - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. Equities research analysts forecast that Snap will post -0.26 earnings per share for the current year.

Insider Transactions at Snap

In other news, CAO Rebecca Morrow sold 2,812 shares of Snap stock in a transaction on Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $32,169.28. Following the completion of the sale, the chief accounting officer now owns 430,252 shares of the company's stock, valued at approximately $4,922,082.88. This trade represents a 0.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eric Young sold 112,020 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares of the company's stock, valued at $29,445,556.40. This represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 445,184 shares of company stock worth $4,968,189 in the last ninety days. Insiders own 22.68% of the company's stock.

Institutional Investors Weigh In On Snap

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Snap by 62.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company's stock valued at $66,462,000 after acquiring an additional 2,386,519 shares during the period. TB Alternative Assets Ltd. raised its stake in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company's stock valued at $85,406,000 after purchasing an additional 4,098,847 shares in the last quarter. Aigen Investment Management LP bought a new stake in Snap during the third quarter worth about $1,345,000. Invenomic Capital Management LP acquired a new stake in Snap during the third quarter worth about $2,349,000. Finally, Dynamic Advisor Solutions LLC bought a new position in Snap in the 3rd quarter valued at about $832,000. Institutional investors and hedge funds own 47.52% of the company's stock.

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.