Evercore ISI Raises Snap (NYSE:SNAP) Price Target to $14.00

Snap (NYSE:SNAP) had its target price hoisted by Evercore ISI from $13.00 to $14.00 in a research note released on Friday, Benzinga reports. The firm currently has an in-line rating on the stock.

Several other equities research analysts have also weighed in on the company. Truist Financial increased their target price on Snap from $12.00 to $16.00 and gave the stock a hold rating in a research report on Friday. UBS Group dropped their target price on Snap from $14.00 to $13.00 and set a neutral rating on the stock in a research report on Tuesday, April 16th. Rosenblatt Securities increased their target price on Snap from $12.00 to $14.00 and gave the stock a neutral rating in a research report on Friday. Morgan Stanley dropped their target price on Snap from $13.00 to $11.00 and set an underweight rating on the stock in a research report on Wednesday, February 7th. Finally, Deutsche Bank Aktiengesellschaft raised Snap from a hold rating to a buy rating and increased their target price for the stock from $10.00 to $19.00 in a research report on Friday, January 26th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $14.67.

Snap Stock Up 27.6 %

NYSE SNAP opened at $14.55 on Friday. The stock has a market cap of $24.02 billion, a PE ratio of -17.96 and a beta of 1.13. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The business has a 50 day moving average price of $11.26 and a two-hundred day moving average price of $12.89. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55.

Snap (NYSE:SNAP) last released its earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.10. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. The company had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.12 billion. As a group, sell-side analysts predict that Snap will post -0.58 EPS for the current fiscal year.

Insider Transactions at Snap

In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the transaction, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the sale, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Rebecca Morrow sold 9,386 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.14, for a total transaction of $104,560.04. Following the completion of the sale, the chief accounting officer now owns 495,526 shares of the company’s stock, valued at approximately $5,520,159.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 470,482 shares of company stock worth $5,284,091. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

A number of institutional investors and hedge funds have recently modified their holdings of SNAP. HCR Wealth Advisors lifted its holdings in shares of Snap by 10.0% in the third quarter. HCR Wealth Advisors now owns 23,162 shares of the company’s stock worth $206,000 after buying an additional 2,098 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Snap by 7.6% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 191,542 shares of the company’s stock worth $1,707,000 after buying an additional 13,500 shares in the last quarter. Compass Advisory Group LLC increased its position in shares of Snap by 13.2% in the third quarter. Compass Advisory Group LLC now owns 13,678 shares of the company’s stock worth $122,000 after purchasing an additional 1,591 shares during the last quarter. Avaii Wealth Management LLC increased its position in shares of Snap by 24.2% in the third quarter. Avaii Wealth Management LLC now owns 15,819 shares of the company’s stock worth $141,000 after purchasing an additional 3,080 shares during the last quarter. Finally, Forsta AP Fonden increased its position in shares of Snap by 3.6% in the third quarter. Forsta AP Fonden now owns 238,700 shares of the company’s stock worth $2,127,000 after purchasing an additional 8,400 shares during the last quarter. 47.52% of the stock is owned by hedge funds and other institutional investors.

About Snap

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.