Snap (NYSE:SNAP) had its target price upped by MKM Partners from $18.00 to $26.00 in a research note released on Monday morning, Briefing.com Automated Import reports. MKM Partners currently has a buy rating on the stock.
A number of other brokerages also recently commented on SNAP. ValuEngine raised shares of Snap from a hold rating to a buy rating in a research note on Thursday, April 2nd. Cowen lifted their target price on shares of Snap from $16.00 to $19.00 and gave the stock an outperform rating in a research note on Wednesday, April 22nd. Credit Suisse Group reduced their target price on shares of Snap from $25.00 to $20.00 and set an outperform rating on the stock in a research note on Monday, April 20th. UBS Group lifted their target price on shares of Snap from $17.00 to $25.00 and gave the stock a buy rating in a research note on Tuesday, June 16th. Finally, Wedbush reaffirmed a hold rating and set a $12.25 target price (down from $15.25) on shares of Snap in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Snap presently has a consensus rating of Buy and a consensus target price of $19.35.
NYSE:SNAP opened at $23.63 on Monday. The company’s 50-day moving average price is $19.21 and its 200-day moving average price is $16.18. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 0.56. The company has a market cap of $32.59 billion, a P/E ratio of -32.37 and a beta of 1.76. Snap has a twelve month low of $7.89 and a twelve month high of $23.95.
Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, April 21st. The company reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.12. The firm had revenue of $462.50 million for the quarter, compared to the consensus estimate of $420.01 million. Snap had a negative net margin of 55.40% and a negative return on equity of 46.64%. The company’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same period last year, the firm posted ($0.10) earnings per share. On average, analysts expect that Snap will post -0.73 earnings per share for the current year.
In other Snap news, CEO Evan Spiegel sold 3,877,100 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $16.80, for a total transaction of $65,135,280.00. Following the completion of the transaction, the chief executive officer now owns 55,322,882 shares in the company, valued at approximately $929,424,417.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 7,343 shares of the business’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $13.54, for a total transaction of $99,424.22. Following the transaction, the chief accounting officer now owns 258,278 shares of the company’s stock, valued at approximately $3,497,084.12. The disclosure for this sale can be found here. Insiders sold 8,315,609 shares of company stock valued at $154,513,511 in the last 90 days.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC grew its holdings in Snap by 15.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 219,787 shares of the company’s stock worth $2,613,000 after acquiring an additional 28,971 shares in the last quarter. Forsta AP Fonden acquired a new position in shares of Snap in the 1st quarter valued at $1,165,000. Capital Bank & Trust Co acquired a new position in shares of Snap in the 4th quarter valued at $36,000. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Snap by 33.7% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 474,964 shares of the company’s stock valued at $7,755,000 after buying an additional 119,592 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in shares of Snap by 65.6% in the 4th quarter. Guggenheim Capital LLC now owns 59,248 shares of the company’s stock valued at $968,000 after buying an additional 23,475 shares in the last quarter. Institutional investors own 39.48% of the company’s stock.
Snap Company Profile
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
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