Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell Raises Snap (NYSE:SNAP) Price Target to $47.00


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Snap (NYSE:SNAP) had its target price boosted by stock analysts at Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell from $40.00 to $47.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell’s price target would indicate a potential downside of 15.18% from the company’s current price.

SNAP has been the subject of several other reports. Barclays boosted their price objective on shares of Snap from $66.00 to $75.00 in a report on Friday, April 23rd. Oppenheimer increased their target price on Snap from $70.00 to $82.00 and gave the company an “outperform” rating in a report on Wednesday, February 24th. Moffett Nathanson upgraded Snap from a “neutral” rating to a “buy” rating and boosted their price target for the company from $39.00 to $57.00 in a research note on Friday, January 15th. Evercore ISI reaffirmed a “buy” rating on shares of Snap in a research report on Sunday, April 25th. Finally, Argus raised their price objective on shares of Snap from $50.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, February 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirty have issued a buy rating to the company’s stock. Snap has a consensus rating of “Buy” and a consensus price target of $67.33.

SNAP stock traded down $3.76 on Tuesday, reaching $55.41. 1,753,428 shares of the company traded hands, compared to its average volume of 24,168,006. The company has a debt-to-equity ratio of 0.75, a current ratio of 5.43 and a quick ratio of 5.43. The firm has a fifty day simple moving average of $58.66 and a 200-day simple moving average of $52.90. Snap has a one year low of $16.42 and a one year high of $73.59. The company has a market cap of $84.42 billion, a P/E ratio of -73.47 and a beta of 1.29.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, April 22nd. The company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.02. Snap had a negative net margin of 49.74% and a negative return on equity of 48.53%. The company had revenue of $769.58 million for the quarter, compared to the consensus estimate of $739.61 million. During the same period in the prior year, the firm posted ($0.08) EPS. Snap’s revenue for the quarter was up 66.4% on a year-over-year basis. On average, sell-side analysts forecast that Snap will post -0.64 EPS for the current year.

In related news, CEO Evan Spiegel sold 250,000 shares of Snap stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $60.63, for a total value of $15,157,500.00. Following the completion of the transaction, the chief executive officer now owns 46,319,632 shares in the company, valued at $2,808,359,288.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Robert C. Murphy sold 950,000 shares of the business’s stock in a transaction that occurred on Monday, April 26th. The stock was sold at an average price of $59.52, for a total value of $56,544,000.00. Following the sale, the chief technology officer now directly owns 80,056,819 shares in the company, valued at $4,764,981,866.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,469,463 shares of company stock worth $88,079,591.

A number of large investors have recently added to or reduced their stakes in the stock. Kovack Advisors Inc. increased its position in Snap by 1.9% during the first quarter. Kovack Advisors Inc. now owns 9,975 shares of the company’s stock valued at $522,000 after acquiring an additional 190 shares during the last quarter. Hohimer Wealth Management LLC boosted its stake in shares of Snap by 3.0% during the 1st quarter. Hohimer Wealth Management LLC now owns 6,785 shares of the company’s stock worth $355,000 after purchasing an additional 200 shares during the period. Rothschild Investment Corp IL grew its holdings in Snap by 3.8% during the 1st quarter. Rothschild Investment Corp IL now owns 5,500 shares of the company’s stock valued at $288,000 after purchasing an additional 200 shares during the last quarter. Arlington Partners LLC raised its position in Snap by 43.8% in the 4th quarter. Arlington Partners LLC now owns 719 shares of the company’s stock worth $36,000 after purchasing an additional 219 shares during the period. Finally, Blue Zone Wealth Advisors LLC lifted its stake in Snap by 0.8% in the first quarter. Blue Zone Wealth Advisors LLC now owns 33,115 shares of the company’s stock worth $1,732,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 47.52% of the company’s stock.

About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application with functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures video from a human perspective; and advertising products, including AR and Snap ads.

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