Snap (NYSE:SNAP) Price Target Raised to $12.00

Snap (NYSE:SNAP) had its price objective hoisted by B. Riley from $11.00 to $12.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock. B. Riley also issued estimates for Snap’s FY2028 earnings at $0.47 EPS.

A number of other equities research analysts have also weighed in on the stock. JMP Securities raised shares of Snap from a “market perform” rating to an “outperform” rating and set a $17.00 price objective on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their price objective on shares of Snap from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Morgan Stanley raised shares of Snap from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $12.00 to $16.00 in a report on Tuesday, July 23rd. Susquehanna dropped their price objective on shares of Snap from $15.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, 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 report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.25.

Snap Price Performance

NYSE SNAP opened at $12.53 on Wednesday. The firm’s fifty day simple moving average is $10.18 and its two-hundred day simple moving average is $12.70. The company has a current ratio of 4.04, a quick ratio of 3.98 and a debt-to-equity ratio of 1.63. Snap has a 12-month low of $8.29 and a 12-month high of $17.90. The firm has a market capitalization of $20.79 billion, a P/E ratio of -21.60 and a beta of 0.99.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Snap had a negative net margin of 18.49% and a negative return on equity of 35.60%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period in the previous year, the company earned ($0.21) earnings per share. The business’s revenue for the quarter was up 15.4% on a year-over-year basis. Analysts forecast that Snap will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the sale, the chief technology officer now owns 58,553,813 shares in the company, valued at approximately $508,832,634.97. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snap news, Director Joanna Coles sold 6,434 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total value of $77,208.00. Following the completion of the sale, the director now owns 54,761 shares in the company, valued at approximately $657,132. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now directly owns 58,553,813 shares of the company’s stock, valued at approximately $508,832,634.97. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,497,051 shares of company stock worth $13,261,098. Insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management purchased a new stake in shares of Snap in the 2nd quarter valued at approximately $33,000. Blue Trust Inc. boosted its position in shares of Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the period. Rothschild Investment LLC purchased a new position in shares of Snap during the 2nd quarter worth approximately $40,000. V Square Quantitative Management LLC purchased a new position in shares of Snap during the 3rd quarter worth approximately $29,000. Finally, Paladin Wealth LLC purchased a new position in shares of Snap during the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.