Snap Inc. (NYSE:SNAP) Receives $37.10 Average Target Price from Analysts

Snap Inc. (NYSE:SNAP) has earned an average rating of “Hold” from the thirty-two analysts that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, twenty-two have assigned a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $37.10.

Several research analysts have weighed in on SNAP shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $16.00 price objective on shares of Snap in a research report on Wednesday, October 30th. Stifel Nicolaus lowered their price target on shares of Snap from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Monday, October 14th. Loop Capital boosted their price objective on shares of Snap from $14.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. UBS Group raised their target price on shares of Snap from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price target on shares of Snap from $12.00 to $13.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th.

Snap Stock Down 0.5 %

Shares of SNAP stock opened at $11.33 on Friday. Snap has a 52-week low of $8.29 and a 52-week high of $17.90. The stock has a market cap of $18.99 billion, a price-to-earnings ratio of -19.53 and a beta of 0.97. The firm’s 50-day moving average is $11.35 and its 200-day moving average is $12.09. The company has a debt-to-equity ratio of 1.63, a quick ratio of 4.04 and a current ratio of 4.04.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.21) earnings per share. Sell-side analysts predict that Snap will post -0.4 EPS for the current year.

Insider Buying and Selling at Snap

In other news, CFO Derek Andersen sold 97,608 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the sale, the chief financial officer now directly owns 2,287,970 shares of the company’s stock, valued at approximately $21,255,241.30. This represents a 4.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Michael J. O’sullivan sold 59,053 shares of Snap stock in a transaction on Monday, September 16th. The stock was sold at an average price of $9.29, for a total transaction of $548,602.37. Following the transaction, the general counsel now directly owns 1,258,278 shares of the company’s stock, valued at $11,689,402.62. This represents a 4.48 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,439,012 shares of company stock worth $17,063,335. 22.68% of the stock is currently owned by company insiders.

Institutional Trading of Snap

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Snap by 62.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,211,360 shares of the company’s stock valued at $66,462,000 after purchasing an additional 2,386,519 shares during the period. TB Alternative Assets Ltd. lifted its stake in Snap by 105.6% in the third quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after buying an additional 4,098,847 shares during the period. Aigen Investment Management LP bought a new position in shares of Snap during the 3rd quarter worth approximately $1,345,000. Invenomic Capital Management LP acquired a new stake in shares of Snap during the 3rd quarter worth approximately $2,349,000. Finally, Dynamic Advisor Solutions LLC acquired a new position in shares of Snap during the 3rd quarter valued at $832,000. 47.52% of the stock is currently owned by institutional investors and hedge funds.

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.