Snap (NYSE:SNAP) Price Target Lowered to $50.00 at JMP Securities

Snap (NYSE:SNAP – Get Rating) had its price target cut by JMP Securities from $65.00 to $50.00 in a report released on Friday, Benzinga reports. They currently have a market outperform rating on the stock.

Several other equities analysts have also weighed in on the stock. Cowen lowered shares of Snap from an outperform rating to a market perform rating and dropped their price objective for the company from $75.00 to $45.00 in a report on Thursday, January 13th. Morgan Stanley cut their price target on Snap from $60.00 to $59.00 and set an overweight rating on the stock in a report on Tuesday, March 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Snap in a research note on Friday, March 11th. They issued a buy rating and a $45.00 price objective for the company. Royal Bank of Canada lowered Snap from an outperform rating to a sector perform rating and lowered their target price for the stock from $54.00 to $40.00 in a research report on Friday, February 4th. Finally, Atlantic Securities reduced their price target on shares of Snap from $85.00 to $70.00 and set an overweight rating for the company in a research report on Friday, February 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Buy and an average price target of $54.26.

Shares of SNAP stock opened at $29.42 on Friday. Snap has a fifty-two week low of $24.32 and a fifty-two week high of $83.34. The company has a debt-to-equity ratio of 0.59, a quick ratio of 5.70 and a current ratio of 5.70. The stock has a 50 day simple moving average of $35.42 and a two-hundred day simple moving average of $44.63. The company has a market cap of $47.79 billion, a P/E ratio of -89.15 and a beta of 1.09.

Snap (NYSE:SNAP – Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.15. Snap had a negative net margin of 11.85% and a negative return on equity of 16.48%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted ($0.19) EPS. The company’s quarterly revenue was up 38.1% on a year-over-year basis. On average, research analysts predict that Snap will post -0.29 earnings per share for the current year.

In other Snap news, CAO Rebecca Morrow sold 8,405 shares of the stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $32.25, for a total transaction of $271,061.25. Following the completion of the transaction, the chief accounting officer now owns 229,383 shares in the company, valued at $7,397,601.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Derek Andersen sold 8,185 shares of Snap stock in a transaction dated Tuesday, February 15th. The stock was sold at an average price of $40.28, for a total transaction of $329,691.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,243,234 shares of company stock valued at $47,018,853.

Several institutional investors have recently bought and sold shares of SNAP. Sawtooth Solutions LLC grew its position in shares of Snap by 4.1% in the third quarter. Sawtooth Solutions LLC now owns 4,793 shares of the company’s stock valued at $354,000 after purchasing an additional 187 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in Snap by 7.0% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 3,292 shares of the company’s stock worth $243,000 after purchasing an additional 216 shares during the period. Wade G W & Inc. grew its holdings in Snap by 1.6% during the 3rd quarter. Wade G W & Inc. now owns 14,397 shares of the company’s stock valued at $1,064,000 after buying an additional 220 shares in the last quarter. B. Riley Wealth Management Inc. increased its position in shares of Snap by 2.1% during the third quarter. B. Riley Wealth Management Inc. now owns 11,051 shares of the company’s stock valued at $816,000 after buying an additional 224 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Snap by 0.7% in the third quarter. The Manufacturers Life Insurance Company now owns 31,308 shares of the company’s stock worth $2,313,000 after buying an additional 227 shares in the last quarter. 54.85% of the stock is owned by hedge funds and other institutional investors.

Snap Company Profile (Get Rating)

Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

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