Snap Inc. (NYSE:SNAP) Receives $36.87 Average Target Price from Analysts

Shares of Snap Inc. (NYSE:SNAP) have earned an average recommendation of “Hold” from the thirty-three research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, twenty-five have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $36.87.

Several equities research analysts recently issued reports on SNAP shares. B. Riley boosted their price objective on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $16.00 price target (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. JMP Securities reissued a “market outperform” rating and issued a $16.00 price objective on shares of Snap in a research note on Monday, January 27th. UBS Group upped their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Citizens Jmp cut shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 5th.

Snap Price Performance

Shares of SNAP opened at $10.43 on Thursday. The firm has a 50-day simple moving average of $11.17 and a two-hundred day simple moving average of $10.78. The stock has a market cap of $17.68 billion, a PE ratio of -24.82 and a beta of 0.99. Snap has a 1-year low of $8.29 and a 1-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 3.95.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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, analysts forecast that Snap will post -0.3 EPS for the current year.

Insider Buying and Selling

In related news, CFO Derek Andersen sold 94,164 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total value of $1,077,236.16. Following the completion of the sale, the chief financial officer now directly owns 2,193,806 shares of the company’s stock, valued at $25,097,140.64. This represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of Snap stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $10.84, for a total value of $195,120.00. Following the transaction, the general counsel now directly owns 498,498 shares in the company, valued at approximately $5,403,718.32. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 499,471 shares of company stock worth $5,608,926 in the last ninety days. 22.68% of the stock is owned by corporate insiders.

Institutional Trading of Snap

Large investors have recently bought and sold shares of the business. Capital International Investors purchased a new stake in shares of Snap in the fourth quarter valued at about $422,049,000. Capital World Investors increased its position in Snap by 38.9% in the 4th quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after acquiring an additional 23,569,522 shares during the period. Norges Bank purchased a new stake in Snap during the 4th quarter valued at approximately $30,162,000. Renaissance Technologies LLC acquired a new stake in Snap during the 4th quarter worth approximately $27,713,000. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Snap by 62.4% in 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 purchasing an additional 2,386,519 shares during the last quarter. 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.