Snap (NYSE:SNAP) Price Target Cut to $11.00 by Analysts at Stifel Nicolaus

Snap (NYSE:SNAP) had its price objective lowered by analysts at Stifel Nicolaus from $13.00 to $11.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective points to a potential upside of 0.82% from the company’s previous close.

A number of other analysts also recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $14.00 target price on shares of Snap in a research note on Wednesday, September 18th. Citigroup decreased their price target on Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a report on Monday, August 12th. B. Riley began coverage on Snap in a report on Friday, September 20th. They set a “neutral” rating and a $11.00 price target for the company. Barclays decreased their price target on Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Roth Mkm reiterated a “neutral” rating and set a $14.00 target price on shares of Snap in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $13.77.

Snap Stock Performance

NYSE SNAP opened at $10.91 on Monday. The business’s 50 day moving average price is $9.63 and its 200-day moving average price is $12.74. Snap has a fifty-two week low of $8.29 and a fifty-two week high of $17.90. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The company has a market cap of $17.90 billion, a P/E ratio of -13.47 and a beta of 1.01.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Sell-side analysts predict that Snap will post -0.47 earnings per share for the current year.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the sale, the general counsel now directly owns 489,058 shares of the company’s stock, valued at $5,286,716.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $10.81, for a total value of $194,580.00. Following the completion of the sale, the general counsel now directly owns 489,058 shares in the company, valued at approximately $5,286,716.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Eric Young sold 114,097 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.11, for a total transaction of $1,039,423.67. Following the completion of the sale, the senior vice president now owns 3,041,723 shares of the company’s stock, valued at $27,710,096.53. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,510,352 shares of company stock worth $13,446,353 over the last ninety days. Company insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SNAP. V Square Quantitative Management LLC raised its position in Snap by 72.7% in the fourth quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after purchasing an additional 4,679 shares in the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Snap by 19.0% during the fourth quarter. EP Wealth Advisors LLC now owns 20,263 shares of the company’s stock worth $343,000 after buying an additional 3,238 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Snap by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 95,317,701 shares of the company’s stock worth $1,613,729,000 after buying an additional 3,503,230 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of Snap by 6.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 19,640 shares of the company’s stock worth $333,000 after buying an additional 1,232 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its stake in shares of Snap by 111.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,400 shares of the company’s stock valued at $125,000 after purchasing an additional 3,900 shares during the last quarter. Institutional investors and hedge funds 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.