Snap (NYSE:SNAP) Price Target Raised to $15.00

Snap (NYSE:SNAP - Get Free Report) had its target price increased by analysts at Wells Fargo & Company from $14.00 to $15.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Wells Fargo & Company's target price would suggest a potential upside of 23.46% from the stock's previous close.

SNAP has been the subject of a number of other research reports. Cantor Fitzgerald upped their price objective on shares of Snap from $8.00 to $9.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Truist Financial raised their price objective on Snap from $13.00 to $14.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. Benchmark restated a "hold" rating on shares of Snap in a research report on Friday, October 25th. Evercore ISI raised their target price on Snap from $12.00 to $15.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reissued a "neutral" rating and issued a $13.00 price target (up previously from $12.00) on shares of Snap in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $37.13.

Snap Stock Performance

SNAP stock traded down $0.32 during mid-day trading on Monday, reaching $12.15. 20,823,177 shares of the stock traded hands, compared to its average volume of 28,102,906. The firm has a market capitalization of $20.38 billion, a PE ratio of -20.95 and a beta of 0.98. The business has a 50-day moving average of $11.59 and a two-hundred day moving average of $11.47. Snap has a 52 week low of $8.29 and a 52 week high of $17.50. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63.

Snap (NYSE:SNAP - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.03. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the company earned ($0.21) EPS. The firm's revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, equities analysts predict that Snap will post -0.4 EPS for the current fiscal year.

Insider Transactions at Snap

In other Snap news, CFO Derek Andersen sold 94,164 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the transaction, the chief financial officer now owns 2,193,806 shares in the company, valued at approximately $25,097,140.64. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joanna Coles sold 6,434 shares of the company's stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total value of $77,208.00. Following the completion of the sale, the director now directly owns 54,761 shares of the company's stock, valued at approximately $657,132. This trade represents a 10.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,451,618 shares of company stock worth $17,560,157 in the last quarter. 22.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently made changes to their positions in SNAP. DekaBank Deutsche Girozentrale raised its holdings in Snap by 50.2% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 282,754 shares of the company's stock worth $4,702,000 after buying an additional 94,532 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Snap by 19.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,018,678 shares of the company's stock worth $50,145,000 after acquiring an additional 490,906 shares in the last quarter. Citizens Financial Group Inc. RI acquired a new stake in shares of Snap during the second quarter worth $180,000. Virtu Financial LLC lifted its position in Snap by 314.6% in the 2nd quarter. Virtu Financial LLC now owns 85,220 shares of the company's stock valued at $1,416,000 after acquiring an additional 64,664 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Snap by 25.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 54,159 shares of the company's stock worth $900,000 after purchasing an additional 10,891 shares during the period. 47.52% of the stock is 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.