Snap (NYSE:SNAP) PT Raised to $16.00

Snap (NYSE:SNAP) had its price target lifted by equities research analysts at Royal Bank of Canada from $13.00 to $16.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 9.97% from the company’s current price.

Other analysts also recently issued research reports about the stock. Susquehanna increased their target price on shares of Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group lowered their price objective on shares of Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Morgan Stanley lowered their price objective on shares of Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Wednesday, February 7th. BMO Capital Markets lowered their price objective on shares of Snap from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, HSBC raised shares of Snap from a “reduce” rating to a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.67.

Snap Price Performance

Shares of SNAP stock opened at $14.55 on Friday. The firm’s 50-day simple moving average is $11.26 and its 200-day simple moving average is $12.84. Snap has a 1-year low of $7.86 and a 1-year high of $17.90. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate 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, research analysts anticipate that Snap will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In other Snap news, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the sale, the chief accounting officer now directly owns 495,526 shares in the company, valued at $5,520,159.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s 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 sale, the general counsel now directly owns 461,005 shares in the company, valued at $7,449,840.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the transaction, the chief accounting officer now directly owns 495,526 shares in the company, valued at $5,520,159.64. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock worth $5,284,091 over the last ninety days. 22.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SNAP. HCR Wealth Advisors increased its holdings in shares of Snap by 10.0% during the third quarter. HCR Wealth Advisors now owns 23,162 shares of the company’s stock valued at $206,000 after purchasing an additional 2,098 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Snap by 7.6% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 191,542 shares of the company’s stock valued at $1,707,000 after purchasing an additional 13,500 shares during the period. Compass Advisory Group LLC increased its holdings in shares of Snap by 13.2% during the third quarter. Compass Advisory Group LLC now owns 13,678 shares of the company’s stock valued at $122,000 after purchasing an additional 1,591 shares during the period. Avaii Wealth Management LLC increased its holdings in shares of Snap by 24.2% during the third quarter. Avaii Wealth Management LLC now owns 15,819 shares of the company’s stock valued at $141,000 after purchasing an additional 3,080 shares during the period. Finally, Forsta AP Fonden grew its holdings in Snap by 3.6% during the third quarter. Forsta AP Fonden now owns 238,700 shares of the company’s stock worth $2,127,000 after acquiring an additional 8,400 shares during the period. 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.