Rosenblatt Securities Boosts Snap (NYSE:SNAP) Price Target to $14.00

Snap (NYSE:SNAP) had its price target upped by Rosenblatt Securities from $12.00 to $14.00 in a research report report published on Friday, Benzinga reports. Rosenblatt Securities currently has a neutral rating on the stock.

Other research analysts have also issued reports about the stock. Morgan Stanley dropped their price objective on shares of Snap from $13.00 to $11.00 and set an underweight rating for the company in a research note on Wednesday, February 7th. UBS Group dropped their price objective on shares of Snap from $14.00 to $13.00 and set a neutral rating for the company in a research note on Tuesday, April 16th. Piper Sandler lifted their price objective on shares of Snap from $12.00 to $17.00 and gave the stock a neutral rating in a research note on Wednesday, January 17th. The Goldman Sachs Group dropped their price objective on shares of Snap from $15.00 to $13.50 and set a neutral rating for the company in a research note on Thursday, February 8th. Finally, Susquehanna lifted their price objective 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. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $14.67.

Snap Price Performance

NYSE SNAP opened at $14.55 on Friday. Snap has a 12 month low of $7.86 and a 12 month high of $17.90. The stock has a market cap of $24.02 billion, a price-to-earnings ratio of -17.96 and a beta of 1.13. The company’s 50 day moving average is $11.26 and its two-hundred day moving average is $12.89. 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 released 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 analysts’ expectations 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 at Snap

In other Snap news, CAO Rebecca Morrow sold 2,442 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.00, for a total transaction of $26,862.00. Following the sale, the chief accounting officer now owns 493,084 shares in the company, valued at $5,423,924. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Rebecca Morrow sold 2,442 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $11.00, for a total value of $26,862.00. Following the completion of the transaction, the chief accounting officer now directly owns 493,084 shares of the company’s stock, valued at approximately $5,423,924. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the general counsel now directly owns 461,005 shares of the company’s stock, valued at $7,449,840.80. 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 quarter. 22.68% of the stock is owned by corporate insiders.

Institutional Trading of Snap

A number of hedge funds have recently modified their holdings of SNAP. Lindbrook Capital LLC boosted its position in Snap by 44,707.8% during the first quarter. Lindbrook Capital LLC now owns 355,326 shares of the company’s stock valued at $4,079,000 after purchasing an additional 354,533 shares during the last quarter. TRUE Private Wealth Advisors boosted its position in Snap by 6.1% during the first quarter. TRUE Private Wealth Advisors now owns 49,642 shares of the company’s stock valued at $570,000 after purchasing an additional 2,850 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Snap by 12.5% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 209,242 shares of the company’s stock valued at $2,402,000 after purchasing an additional 23,300 shares during the last quarter. Pegasus Partners Ltd. acquired a new stake in Snap during the first quarter valued at $367,000. Finally, Zullo Investment Group Inc. acquired a new stake in Snap during the first quarter valued at $138,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

About Snap

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.