Snap (NYSE:SNAP) Given New $9.50 Price Target at Rosenblatt Securities

Snap (NYSE:SNAP) had its target price increased by Rosenblatt Securities from $8.70 to $9.50 in a research note published on Thursday morning,Benzinga reports. Rosenblatt Securities currently has a neutral rating on the stock.

Several other research analysts also recently commented on SNAP. Stifel Nicolaus downgraded shares of Snap from a “hold” rating to a “sell” rating and decreased their target price for the stock from $8.00 to $6.50 in a research note on Friday, October 24th. Piper Sandler dropped their price target on shares of Snap from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Truist Financial cut their price target on shares of Snap from $11.00 to $10.00 and set a “hold” rating on the stock in a report on Wednesday, August 6th. Morgan Stanley lowered their price objective on shares of Snap from $8.50 to $8.00 and set an “equal weight” rating for the company in a research note on Monday, October 20th. Finally, UBS Group dropped their target price on shares of Snap from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $34.94.

Snap Trading Up 9.7%

NYSE SNAP opened at $8.01 on Thursday. The firm has a market cap of $13.54 billion, a PE ratio of -27.62 and a beta of 0.89. Snap has a 1-year low of $6.90 and a 1-year high of $13.28. The stock has a 50-day moving average of $7.82 and a 200-day moving average of $8.25. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 1.73.

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

Insider Activity at Snap

In other Snap news, Director Elizabeth Jenkins sold 7,900 shares of the firm’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $7.07, for a total value of $55,853.00. Following the completion of the sale, the director directly owned 65,663 shares in the company, valued at $464,237.41. This trade represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Derek Andersen sold 33,871 shares of Snap stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $7.56, for a total value of $256,064.76. Following the sale, the chief financial officer directly owned 3,109,581 shares in the company, valued at approximately $23,508,432.36. The trade was a 1.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 510,569 shares of company stock valued at $3,741,723. 22.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Caprock Group LLC purchased a new stake in Snap in the third quarter worth $784,000. Rhumbline Advisers lifted its position in Snap by 0.9% during the third quarter. Rhumbline Advisers now owns 210,393 shares of the company’s stock valued at $1,622,000 after buying an additional 1,789 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of Snap by 75.0% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 63,382 shares of the company’s stock valued at $489,000 after buying an additional 27,167 shares in the last quarter. Compagnie Lombard Odier SCmA boosted its holdings in shares of Snap by 1.1% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 230,409 shares of the company’s stock valued at $1,776,000 after buying an additional 2,499 shares in the last quarter. Finally, Wealthfront Advisers LLC grew its position in shares of Snap by 13.5% in the 3rd quarter. Wealthfront Advisers LLC now owns 103,704 shares of the company’s stock worth $800,000 after buying an additional 12,367 shares during the period. Hedge funds and other institutional investors 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.