Snap (NYSE:SNAP) Price Target Raised to $13.00 at BMO Capital Markets

Snap (NYSE:SNAP) had its target price upped by BMO Capital Markets from $12.00 to $13.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages have also commented on SNAP. Rosenblatt Securities increased their price objective on Snap from $8.70 to $9.50 and gave the company a “neutral” rating in a report on Thursday. Citigroup lowered Snap from an “outperform” rating to a “negative” rating in a report on Tuesday, July 15th. Sanford C. Bernstein increased their price target on Snap from $9.00 to $10.00 and gave the company a “market perform” rating in a report on Tuesday, July 22nd. Evercore ISI lifted their price target on shares of Snap from $11.00 to $12.00 and gave the company an “in-line” rating in a research report on Wednesday, August 6th. Finally, Stifel Nicolaus cut shares of Snap from a “hold” rating to a “sell” rating and reduced their price objective for the stock from $8.00 to $6.50 in a research note on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and a consensus price target of $34.94.

Snap Stock Up 9.7%

Snap stock opened at $8.01 on Thursday. The company has a market capitalization of $13.54 billion, a P/E ratio of -27.62 and a beta of 0.89. The firm’s fifty day simple moving average is $7.82 and its 200-day simple moving average is $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 has a 1-year low of $6.90 and a 1-year high of $13.28.

Snap (NYSE:SNAP) last issued 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 business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company posted ($0.09) earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Snap has set its Q4 2025 guidance at EPS. Sell-side analysts forecast that Snap will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Snap

In other Snap news, insider Ajit Mohan sold 184,287 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $7.18, for a total value of $1,323,180.66. Following the completion of the sale, the insider directly owned 5,492,006 shares of the company’s stock, valued at $39,432,603.08. This represents a 3.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Derek Andersen sold 60,966 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $7.17, for a total transaction of $437,126.22. Following the completion of the sale, the chief financial officer owned 3,143,452 shares in the company, valued at $22,538,550.84. This represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 510,569 shares of company stock worth $3,741,723 in the last ninety days. 22.68% of the stock is currently owned by insiders.

Institutional Trading of Snap

Several institutional investors have recently modified their holdings of SNAP. Signaturefd LLC increased its position in shares of Snap by 169.9% during the second quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock valued at $26,000 after purchasing an additional 1,852 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Snap during the third quarter worth $33,000. Quarry LP acquired a new stake in Snap during the first quarter worth $34,000. Itau Unibanco Holding S.A. bought a new stake in Snap in the 1st quarter valued at $35,000. Finally, Wealth Preservation Advisors LLC acquired a new position in shares of Snap in the 1st quarter valued at $44,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.