Snap (NYSE:SNAP) Price Target Raised to $10.00

Snap (NYSE:SNAP) had its price objective hoisted by Piper Sandler from $9.00 to $10.00 in a research note released on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. Zacks Research lowered Snap from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 20th. BMO Capital Markets boosted their target price on Snap from $12.00 to $13.00 and gave the stock an “outperform” rating in a research note on Thursday. Guggenheim reissued a “neutral” rating and set a $8.00 price objective on shares of Snap in a report on Friday, September 12th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Snap in a report on Wednesday, October 8th. Finally, Sanford C. Bernstein lifted their target price on Snap from $9.00 to $10.00 and gave the stock a “market perform” rating in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $34.98.

Snap Stock Performance

Shares of NYSE SNAP opened at $8.18 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88. The firm has a market cap of $13.83 billion, a price-to-earnings ratio of -28.22 and a beta of 0.89. The stock’s fifty day moving average price is $7.84 and its two-hundred day moving average price is $8.25. Snap has a one year low of $6.90 and a one year high of $13.28.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.12). Snap had a negative net margin of 8.60% and a negative return on equity of 21.49%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same period in the prior year, the firm earned ($0.09) EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Snap has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Snap will post -0.3 EPS for the current year.

Insider Buying and Selling at Snap

In related news, insider Ajit Mohan sold 28,238 shares of the firm’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $7.83, for a total value of $221,103.54. Following the transaction, the insider owned 5,436,173 shares of the company’s stock, valued at approximately $42,565,234.59. This trade represents a 0.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 24,000 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $7.73, for a total value of $185,520.00. Following the sale, the general counsel owned 490,454 shares of the company’s stock, valued at $3,791,209.42. This trade represents a 4.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 510,569 shares of company stock worth $3,741,723. 22.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SNAP. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Snap by 44.6% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 44,632 shares of the company’s stock worth $350,000 after purchasing an additional 13,769 shares in the last quarter. Readystate Asset Management LP bought a new position in shares of Snap during the 3rd quarter worth approximately $8,873,000. GSA Capital Partners LLP boosted its stake in shares of Snap by 95.5% in the 3rd quarter. GSA Capital Partners LLP now owns 59,064 shares of the company’s stock worth $455,000 after buying an additional 28,851 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Snap by 9.1% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 232,406 shares of the company’s stock valued at $1,793,000 after acquiring an additional 19,382 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its holdings in Snap by 2.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 379,525 shares of the company’s stock worth $2,926,000 after acquiring an additional 10,840 shares during the period. 47.52% of the stock is owned by institutional investors.

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.