Snap (NYSE:SNAP) Price Target Increased to $15.00 by Analysts at Susquehanna

Snap (NYSE:SNAP) had its price objective lifted by Susquehanna from $12.00 to $15.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a neutral rating on the stock.

Other analysts have also issued reports about the company. Barclays boosted their price objective on Snap from $15.00 to $17.00 and gave the company an overweight rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised Snap from a hold rating to a buy rating and boosted their price objective for the company from $10.00 to $19.00 in a report on Friday, January 26th. Morgan Stanley boosted their price objective on Snap from $11.00 to $12.00 and gave the company an underweight rating in a report on Friday. Evercore ISI boosted their price objective on Snap from $13.00 to $14.00 and gave the company an in-line rating in a report on Friday. Finally, The Goldman Sachs Group boosted their price objective on Snap from $13.50 to $16.00 and gave the company a neutral rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Snap currently has an average rating of Hold and a consensus target price of $14.79.

Snap Stock Down 0.4 %

Shares of NYSE SNAP opened at $14.49 on Monday. Snap has a 1 year low of $7.86 and a 1 year high of $17.90. 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 stock’s 50-day simple moving average is $11.33 and its 200-day simple moving average is $12.93.

Snap (NYSE:SNAP) last announced 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. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.12 billion. As a group, analysts forecast that Snap will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was 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 in the company, valued at $5,474,582.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snap news, SVP Eric Young sold 120,472 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the transaction, the senior vice president now owns 3,540,852 shares of the company’s stock, valued at $39,409,682.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction 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 transaction, the general counsel now directly owns 474,812 shares in the company, valued at approximately $5,474,582.36. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock worth $5,284,091 over the last ninety days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNAP. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Snap by 7.6% in 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 buying an additional 13,500 shares in the last quarter. Compass Advisory Group LLC increased its holdings in shares of Snap by 13.2% in the third quarter. Compass Advisory Group LLC now owns 13,678 shares of the company’s stock valued at $122,000 after buying an additional 1,591 shares in the last quarter. Avaii Wealth Management LLC increased its holdings in shares of Snap by 24.2% in the third quarter. Avaii Wealth Management LLC now owns 15,819 shares of the company’s stock valued at $141,000 after buying an additional 3,080 shares in the last quarter. Forsta AP Fonden increased its holdings in shares of Snap by 3.6% in the third quarter. Forsta AP Fonden now owns 238,700 shares of the company’s stock valued at $2,127,000 after buying an additional 8,400 shares in the last quarter. Finally, Miracle Mile Advisors LLC increased its holdings in shares of Snap by 54.5% in the third quarter. Miracle Mile Advisors LLC now owns 21,263 shares of the company’s stock valued at $189,000 after buying an additional 7,500 shares in the last quarter. 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.