Brokerages Set Snap Inc. (NYSE:SNAP) Target Price at $36.47

Shares of Snap Inc. (NYSE:SNAP) have earned a consensus rating of “Hold” from the thirty-three research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $36.00.

SNAP has been the subject of a number of recent research reports. BMO Capital Markets reissued an “outperform” rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. JPMorgan Chase & Co. lowered their price objective on Snap from $10.00 to $8.00 and set an “underweight” rating on the stock in a research note on Tuesday, April 8th. Citigroup cut their target price on Snap from $13.50 to $9.00 and set a “neutral” rating for the company in a research report on Monday. Citizens Jmp upgraded Snap from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 28th. Finally, The Goldman Sachs Group dropped their price target on Snap from $13.50 to $9.50 and set a “neutral” rating for the company in a research note on Monday.

Snap Stock Down 0.4 %

Snap stock opened at $7.88 on Friday. Snap has a twelve month low of $7.08 and a twelve month high of $17.33. The stock has a market cap of $13.36 billion, a P/E ratio of -18.75 and a beta of 0.92. The company’s 50-day moving average price is $9.43 and its two-hundred day moving average price is $10.65. The company has a quick ratio of 3.95, a current ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, analysts expect that Snap will post -0.3 EPS for the current year.

Insider Activity at Snap

In other Snap news, SVP Eric Young sold 102,152 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the sale, the senior vice president now directly owns 3,443,419 shares in the company, valued at approximately $37,326,661.96. This trade represents a 2.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total value of $9,040,000.00. Following the completion of the transaction, the chief technology officer now directly owns 55,818,548 shares in the company, valued at $504,599,673.92. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,356,523 shares of company stock worth $12,710,077 over the last three months. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Institutional investors have recently added to or reduced their stakes in the business. NBC Securities Inc. boosted its stake in Snap by 154,650.0% during the first quarter. NBC Securities Inc. now owns 3,095 shares of the company’s stock worth $26,000 after acquiring an additional 3,093 shares in the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Snap in the 4th quarter valued at about $27,000. Raiffeisen Bank International AG bought a new position in Snap in the fourth quarter worth approximately $30,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Snap in the 4th quarter valued at $32,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of Snap during the fourth quarter worth about $43,000. 47.52% of the stock is owned by institutional investors and hedge funds.

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.