Piper Sandler Forecasts Strong Price Appreciation for Snap (NYSE:SNAP) Stock

Snap (NYSE:SNAP) had its price target increased by analysts at Piper Sandler from $9.00 to $10.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 22.19% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company raised their price target on shares of Snap from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Bank of America cut their price objective on shares of Snap from $10.00 to $9.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Snap in a research report on Wednesday, October 8th. JMP Securities reiterated a “market perform” rating on shares of Snap in a research note on Wednesday, August 6th. Finally, Citigroup downgraded shares of Snap from an “outperform” rating to a “negative” rating in a research note on Tuesday, July 15th. Four analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $34.98.

Snap Stock Performance

SNAP opened at $8.18 on Thursday. The company has a market capitalization of $13.83 billion, a price-to-earnings ratio of -28.22 and a beta of 0.89. The business’s 50-day moving average price is $7.84 and its two-hundred day moving average price is $8.25. Snap has a 1 year low of $6.90 and a 1 year high of $13.28. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm 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 posted ($0.09) earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Snap has set its Q4 2025 guidance at EPS. Equities analysts expect that Snap will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Elizabeth Jenkins sold 7,900 shares of Snap stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $55,853.00. Following the transaction, the director owned 65,663 shares of the company’s stock, valued at $464,237.41. The trade was a 10.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Michael J. O’sullivan sold 24,000 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $7.73, for a total value of $185,520.00. Following the completion of the sale, the general counsel directly owned 490,454 shares of the company’s stock, valued at $3,791,209.42. The trade was a 4.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 510,569 shares of company stock valued at $3,741,723. 22.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snap

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC grew its stake in Snap by 169.9% in the 2nd quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock valued at $26,000 after buying an additional 1,852 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Snap during the third quarter valued at approximately $33,000. Quarry LP purchased a new position in shares of Snap during the 1st quarter valued at $34,000. Itau Unibanco Holding S.A. bought a new position in Snap in the 1st quarter worth about $35,000. Finally, Wealth Preservation Advisors LLC bought a new position in shares of Snap in the first quarter worth approximately $44,000. 47.52% of the stock is currently owned by institutional investors.

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.