Susquehanna Increases Snap (NYSE:SNAP) Price Target to $13.00

Snap (NYSE:SNAP - Get Free Report) had its target price upped by equities researchers at Susquehanna from $12.00 to $13.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Susquehanna's target price would indicate a potential upside of 19.21% from the stock's previous close.

SNAP has been the subject of several other reports. B. Riley upped their target price on Snap from $11.00 to $12.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Wells Fargo & Company lowered Snap from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $15.00 to $11.00 in a research report on Wednesday. Cantor Fitzgerald lifted their target price on Snap from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price target on shares of Snap from $12.00 to $13.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Finally, Truist Financial lifted their price objective on shares of Snap from $13.00 to $14.00 and gave the stock a "hold" rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $36.87.

Snap Stock Performance

NYSE:SNAP traded up $0.22 during trading hours on Wednesday, hitting $10.91. 31,558,889 shares of the company traded hands, compared to its average volume of 35,096,188. Snap has a one year low of $8.29 and a one year high of $17.33. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 4.04. The firm's 50-day simple moving average is $11.47 and its 200-day simple moving average is $10.86.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results 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%. As a group, equities research analysts predict that Snap will post -0.26 EPS for the current year.

Insider Activity

In other news, General Counsel Michael J. O'sullivan sold 18,000 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $11.49, for a total transaction of $206,820.00. Following the completion of the transaction, the general counsel now owns 480,498 shares of the company's stock, valued at approximately $5,520,922.02. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Derek Andersen sold 17,789 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.00, for a total transaction of $213,468.00. Following the completion of the sale, the chief financial officer now directly owns 2,176,017 shares in the company, valued at $26,112,204. This represents a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 445,184 shares of company stock worth $4,968,189 in the last three months. Corporate insiders own 22.68% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Checchi Capital Advisers LLC raised 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 purchasing an additional 901 shares in the last quarter. HCR Wealth Advisors raised 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 buying an additional 934 shares in the last quarter. Empowered Funds LLC boosted its stake in Snap by 3.1% in the fourth quarter. Empowered Funds LLC now owns 35,639 shares of the company's stock worth $384,000 after buying an additional 1,055 shares in the last quarter. Metis Global Partners LLC boosted its stake in Snap by 6.9% in the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company's stock worth $207,000 after buying an additional 1,255 shares in the last quarter. Finally, Gradient Investments LLC grew its position in Snap by 0.9% during the fourth quarter. Gradient Investments LLC now owns 142,144 shares of the company's stock valued at $1,531,000 after acquiring an additional 1,310 shares during the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

About Snap

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.