Snap (NYSE:SNAP) Price Target Lowered to $12.00 at Stifel Nicolaus

Snap (NYSE:SNAP) had its target price lowered by Stifel Nicolaus from $14.00 to $12.00 in a report issued on Tuesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Several other research firms also recently commented on SNAP. Susquehanna lifted their price target on shares of Snap from $9.50 to $12.00 and gave the stock a neutral rating in a research note on Wednesday, February 7th. Piper Sandler lifted their target price on shares of Snap from $12.00 to $17.00 and gave the stock a neutral rating in a research report on Wednesday, January 17th. Royal Bank of Canada cut their price target on shares of Snap from $17.00 to $13.00 and set a sector perform rating for the company in a research report on Wednesday, February 7th. Morgan Stanley decreased their price objective on Snap from $13.00 to $11.00 and set an underweight rating on the stock in a report on Wednesday, February 7th. Finally, Roth Mkm lifted their price target on Snap from $10.00 to $14.00 and gave the stock a neutral rating in a research note on Friday, January 26th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Snap presently has a consensus rating of Hold and a consensus target price of $13.65.

Snap Stock Performance

NYSE SNAP opened at $10.42 on Tuesday. The company has a market capitalization of $17.19 billion, a P/E ratio of -12.55 and a beta of 1.13. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. Snap has a 52-week low of $7.86 and a 52-week high of $17.90. The company has a fifty day moving average of $11.20 and a 200-day moving average of $12.73.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. As a group, equities research analysts predict that Snap will post -0.58 EPS for the current fiscal year.

Insider Activity

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the transaction, the general counsel now owns 461,005 shares in the company, valued at $7,449,840.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total transaction of $207,540.00. Following the transaction, the general counsel now directly owns 474,812 shares of the company’s stock, valued at approximately $5,474,582.36. The disclosure for this sale can be found here. Insiders sold a total of 470,054 shares of company stock worth $5,279,729 in the last quarter.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SNAP. NBC Securities Inc. grew its stake in shares of Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after acquiring an additional 1,445 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Snap in the 4th quarter worth about $29,000. Newbridge Financial Services Group Inc. increased its stake in Snap by 75.0% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock valued at $31,000 after purchasing an additional 1,500 shares in the last quarter. Allworth Financial LP raised its holdings in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after buying an additional 1,708 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in Snap by 365.3% in the second quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company’s stock worth $47,000 after buying an additional 3,094 shares during the last quarter. Hedge funds and other institutional investors 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.