Snap (NYSE:SNAP) Trading Up 6% - Here's Why

Snap Inc. (NYSE:SNAP - Get Free Report) shares were up 6% during trading on Friday . The company traded as high as $12.08 and last traded at $11.92. Approximately 3,217,824 shares were traded during trading, a decline of 65% from the average daily volume of 9,269,524 shares. The stock had previously closed at $11.24.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup increased their price objective on Snap from $11.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, November 29th. UBS Group lifted their price objective on shares of Snap from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $16.00 target price on shares of Snap in a report on Wednesday, October 30th. Roth Mkm restated a "neutral" rating and set a $14.00 price target on shares of Snap in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group increased their price objective on shares of Snap from $12.00 to $13.50 and gave the company a "neutral" rating in a research note 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $37.10.

Snap Stock Performance

The business's fifty day moving average price is $11.51 and its 200-day moving average price is $11.68. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. The stock has a market capitalization of $20.08 billion, a PE ratio of -20.64 and a beta of 0.97.

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

Insiders Place Their Bets

In other news, General Counsel Michael J. O'sullivan sold 12,315 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.54, for a total transaction of $129,800.10. Following the sale, the general counsel now owns 1,195,567 shares in the company, valued at approximately $12,601,276.18. This trade represents a 1.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Eric Young sold 112,020 shares of the company's stock in a transaction on Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the transaction, the senior vice president now owns 2,791,048 shares of the company's stock, valued at $29,445,556.40. This trade represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,451,618 shares of company stock worth $17,560,157 in the last ninety days. 22.68% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Snap

Large investors have recently modified their holdings of the company. Metis Global Partners LLC grew its position in Snap by 6.9% during the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company's stock valued at $207,000 after acquiring an additional 1,255 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Snap by 1.9% during the 3rd quarter. Intech Investment Management LLC now owns 77,592 shares of the company's stock valued at $830,000 after purchasing an additional 1,433 shares during the last quarter. MML Investors Services LLC raised its position in Snap by 6.8% in the 3rd quarter. MML Investors Services LLC now owns 25,245 shares of the company's stock worth $270,000 after purchasing an additional 1,614 shares during the period. Advisors Asset Management Inc. lifted its stake in Snap by 141.9% in the third quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock worth $30,000 after purchasing an additional 1,632 shares during the last quarter. Finally, TRUE Private Wealth Advisors boosted its position in Snap by 3.5% during the third quarter. TRUE Private Wealth Advisors now owns 51,941 shares of the company's stock valued at $556,000 after buying an additional 1,749 shares during the period. 47.52% of the stock is owned by hedge funds and other 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.