Snap Inc. (SNAP) Price Target Raised to $15.00 at Aegis
Snap Inc. (NYSE:SNAP) had its price target raised by stock analysts at Aegis from $14.00 to $15.00 in a research report issued to clients and investors on Thursday. The firm currently has a “hold” rating on the stock. Aegis’ price target would suggest a potential upside of 14.33% from the stock’s current price.
Other equities analysts have also issued research reports about the stock. UBS AG raised shares of Snap from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $24.00 to $19.00 in a report on Thursday, May 11th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $15.00 price target (down previously from $22.00) on shares of Snap in a research report on Friday, May 12th. Piper Jaffray Companies reissued a “neutral” rating and set a $16.50 price target (down previously from $20.00) on shares of Snap in a research report on Thursday, July 13th. SunTrust Banks, Inc. began coverage on shares of Snap in a research report on Tuesday. They set a “sell” rating and a $10.00 price target for the company. Finally, Zacks Investment Research raised shares of Snap from a “sell” rating to a “hold” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $18.58.
Shares of Snap (NYSE SNAP) traded up 1.5998% during trading on Thursday, hitting $13.3299. 7,862,159 shares of the stock were exchanged. The firm’s market capitalization is $9.10 billion. The stock’s 50 day moving average price is $14.71 and its 200 day moving average price is $18.97. Snap has a 52 week low of $11.28 and a 52 week high of $29.44.
Snap (NYSE:SNAP) last released its earnings results on Thursday, August 10th. The company reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by $0.07. The company had revenue of $181.70 million for the quarter, compared to the consensus estimate of $186.49 million. The business’s revenue for the quarter was up 153.1% on a year-over-year basis. On average, equities analysts predict that Snap will post ($0.63) earnings per share for the current year.
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In other news, CFO Andrew Vollero sold 195,100 shares of Snap stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $12.50, for a total value of $2,438,750.00. Following the completion of the sale, the chief financial officer now directly owns 1,882,280 shares in the company, valued at $23,528,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Imran Khan sold 150,000 shares of Snap stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $12.50, for a total transaction of $1,875,000.00. Following the completion of the sale, the insider now owns 9,596,464 shares of the company’s stock, valued at $119,955,800. The disclosure for this sale can be found here. Insiders sold 745,100 shares of company stock valued at $9,313,750 over the last quarter.
Several hedge funds have recently made changes to their positions in SNAP. JPMorgan Chase & Co. bought a new stake in shares of Snap during the first quarter worth approximately $252,388,000. US Bancorp DE bought a new stake in shares of Snap during the first quarter worth approximately $101,000. Global X Management Co. LLC bought a new stake in shares of Snap during the first quarter worth approximately $3,650,000. Oppenheimer & Co. Inc. bought a new stake in shares of Snap during the first quarter worth approximately $369,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in shares of Snap during the first quarter worth approximately $1,094,000. Hedge funds and other institutional investors own 29.24% of the company’s stock.
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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