Snap (NYSE:SNAP - Get Free Report)'s stock had its "market outperform" rating reissued by investment analysts at JMP Securities in a research report issued on Monday,Benzinga reports. They presently have a $16.00 price objective on the stock. JMP Securities' price objective indicates a potential upside of 47.38% from the stock's current price.
Several other research analysts have also issued reports on the stock. Cantor Fitzgerald raised their target price on shares of Snap from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $640.00 target price on shares of Snap in a research note on Thursday, December 5th. Benchmark reaffirmed a "hold" rating on shares of Snap in a research note on Friday, October 25th. Bank of America raised their target price on shares of Snap from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their target price on shares of Snap from $14.00 to $15.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $36.99.
Check Out Our Latest Report on SNAP
Shares of SNAP traded down $0.03 during trading hours on Monday, hitting $10.86. The stock had a trading volume of 12,184,951 shares, compared to its average volume of 29,103,465. The company's fifty day moving average is $11.48 and its two-hundred day moving average is $11.10. The company has a debt-to-equity ratio of 1.63, a current ratio of 4.04 and a quick ratio of 4.04. Snap has a 52 week low of $8.29 and a 52 week high of $17.50. The stock has a market capitalization of $18.21 billion, a price-to-earnings ratio of -18.72 and a beta of 0.98.
Snap (NYSE:SNAP - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates 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 revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.21) EPS. On average, analysts anticipate that Snap will post -0.39 EPS for the current year.
In other Snap news, SVP Eric Young sold 112,020 shares of the company's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $10.55, for a total value of $1,181,811.00. Following the transaction, the senior vice president now directly owns 2,791,048 shares in the company, valued at $29,445,556.40. The trade was a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joanna Coles sold 6,434 shares of the company's stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the transaction, the director now owns 54,761 shares in the company, valued at approximately $657,132. This represents a 10.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,451,618 shares of company stock worth $17,560,157 over the last ninety days. Insiders own 22.68% of the company's stock.
Several institutional investors and hedge funds have recently modified their holdings of the business. HCR Wealth Advisors grew its stake in shares of Snap by 3.9% in the fourth quarter. HCR Wealth Advisors now owns 25,016 shares of the company's stock valued at $269,000 after acquiring an additional 934 shares in the last quarter. Metis Global Partners LLC lifted its position in Snap by 6.9% during the third quarter. Metis Global Partners LLC now owns 19,352 shares of the company's stock worth $207,000 after purchasing an additional 1,255 shares during the period. Gradient Investments LLC lifted its position in Snap by 0.9% during the fourth quarter. Gradient Investments LLC now owns 142,144 shares of the company's stock worth $1,531,000 after purchasing an additional 1,310 shares during the period. Intech Investment Management LLC lifted its position in Snap by 1.9% during the third quarter. Intech Investment Management LLC now owns 77,592 shares of the company's stock worth $830,000 after purchasing an additional 1,433 shares during the period. Finally, HB Wealth Management LLC lifted its position in Snap by 7.7% during the fourth quarter. HB Wealth Management LLC now owns 21,187 shares of the company's stock worth $228,000 after purchasing an additional 1,513 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.
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.
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