Snap (NYSE:SNAP) Given New $12.00 Price Target at Stifel Nicolaus

Snap (NYSE:SNAP) had its price target cut by Stifel Nicolaus from $14.00 to $12.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

Other equities analysts have also recently issued reports about the company. Susquehanna lifted their price objective on Snap from $9.50 to $12.00 and gave the company a neutral rating in a report on Wednesday, February 7th. Royal Bank of Canada reduced their price objective on shares of Snap from $17.00 to $13.00 and set a sector perform rating on the stock in a research note on Wednesday, February 7th. Morgan Stanley dropped their target price on shares of Snap from $13.00 to $11.00 and set an underweight rating for the company in a research report on Wednesday, February 7th. Wells Fargo & Company lowered their price objective on shares of Snap from $22.00 to $16.00 and set an overweight rating for the company in a research report on Wednesday, February 7th. Finally, Piper Sandler lifted their price target on Snap from $12.00 to $17.00 and gave the company a neutral rating in a research note on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and an average target price of $13.65.

Snap Price Performance

NYSE:SNAP opened at $10.42 on Tuesday. Snap has a 52 week low of $7.86 and a 52 week high of $17.90. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The firm’s 50-day simple moving average is $11.20 and its 200 day simple moving average is $12.73. The firm has a market cap of $17.19 billion, a price-to-earnings ratio of -12.55 and a beta of 1.13.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. As a group, sell-side analysts predict that Snap will post -0.58 earnings per share for the current year.

Insider Activity

In other Snap news, CEO Evan Spiegel sold 150,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the sale, the chief executive officer now owns 3,627,844 shares of the company’s stock, valued at $40,305,346.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now directly owns 474,812 shares in the company, valued at $5,474,582.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Evan Spiegel sold 150,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the transaction, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 470,054 shares of company stock valued at $5,279,729.

Institutional Trading of Snap

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sowell Financial Services LLC increased its holdings in shares of Snap by 3.3% during the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock valued at $392,000 after acquiring an additional 729 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Snap by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after purchasing an additional 891 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in Snap by 7.4% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 13,440 shares of the company’s stock valued at $176,000 after purchasing an additional 930 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in Snap by 3.3% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock worth $533,000 after buying an additional 1,000 shares during the last quarter. Finally, Impax Asset Management Group plc lifted its stake in shares of Snap by 4.5% in the third quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock valued at $209,000 after buying an additional 1,017 shares in the last quarter. 47.52% of the stock is 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.