Snap (NYSE:SNAP) Price Target Raised to $18.00 at Wells Fargo & Company

Snap (NYSE:SNAP) had its price target lifted by research analysts at Wells Fargo & Company from $16.00 to $18.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 23.71% from the stock’s current price.

Several other analysts have also issued reports on the stock. Morgan Stanley boosted their price objective on shares of Snap from $11.00 to $12.00 and gave the company an “underweight” rating in a report on Friday. Benchmark restated a “hold” rating on shares of Snap in a report on Friday. Evercore ISI boosted their price objective on shares of Snap from $13.00 to $14.00 and gave the company an “in-line” rating in a report on Friday. Susquehanna boosted 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. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Snap from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.00 to $19.00 in a research note on Friday, January 26th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.67.

Snap Stock Up 27.6 %

NYSE SNAP opened at $14.55 on Friday. The business’s fifty day simple moving average is $11.26 and its 200-day simple moving average is $12.84. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. The firm has a market cap of $24.02 billion, a PE ratio of -17.96 and a beta of 1.13. Snap has a 52 week low of $7.86 and a 52 week high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.10. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 45.02%. As a group, equities analysts anticipate that Snap will post -0.58 earnings per share for the current year.

Insider Activity at Snap

In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction that occurred 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 directly owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction that occurred 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 sale, the general counsel now directly owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now directly owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock valued at $5,284,091 over the last three months. 22.68% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snap

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Snap by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after purchasing an additional 3,503,230 shares during the period. SRS Investment Management LLC lifted its holdings in shares of Snap by 23.6% during the fourth quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock worth $1,102,392,000 after purchasing an additional 12,452,415 shares during the period. Capital World Investors lifted its holdings in shares of Snap by 0.6% during the fourth quarter. Capital World Investors now owns 45,887,082 shares of the company’s stock worth $776,868,000 after purchasing an additional 274,176 shares during the period. Artisan Partners Limited Partnership lifted its holdings in shares of Snap by 4.1% during the third quarter. Artisan Partners Limited Partnership now owns 8,267,765 shares of the company’s stock worth $73,666,000 after purchasing an additional 327,038 shares during the period. Finally, Carmignac Gestion acquired a new stake in shares of Snap during the fourth quarter worth $110,103,000. 47.52% of the stock is owned by institutional investors and hedge funds.

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.