Brokerages Set Snap Inc (NYSE:SNAP) PT at $17.11

Snap Inc (NYSE:SNAP) has been given a consensus rating of “Hold” by the thirty-seven analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, twenty-one have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $17.11.

SNAP has been the subject of a number of recent research reports. Royal Bank of Canada reissued a “buy” rating and issued a $20.00 target price on shares of Snap in a report on Wednesday, July 24th. Aegis raised their target price on shares of Snap from $19.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Moffett Nathanson raised their target price on shares of Snap from $11.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. Credit Suisse Group raised their target price on shares of Snap from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, October 21st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $19.00 target price on shares of Snap in a report on Monday, October 21st.

Shares of SNAP stock traded down $0.43 on Thursday, reaching $13.94. The company’s stock had a trading volume of 31,393,846 shares, compared to its average volume of 31,289,604. The stock’s fifty day simple moving average is $14.50 and its 200-day simple moving average is $14.50. Snap has a 1 year low of $4.82 and a 1 year high of $18.36. The company has a current ratio of 7.25, a quick ratio of 7.25 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $20.12 billion, a price-to-earnings ratio of -14.37 and a beta of 1.10.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, October 22nd. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.14. Snap had a negative net margin of 63.75% and a negative return on equity of 44.16%. The firm had revenue of $446.20 million during the quarter, compared to analyst estimates of $436.00 million. During the same period last year, the firm posted ($0.12) earnings per share. Snap’s revenue for the quarter was up 49.9% compared to the same quarter last year. Equities research analysts forecast that Snap will post -0.69 earnings per share for the current year.

In other news, CTO Robert C. Murphy sold 698,913 shares of Snap stock in a transaction on Monday, October 28th. The stock was sold at an average price of $14.34, for a total transaction of $10,022,412.42. Following the completion of the sale, the chief technology officer now directly owns 86,977,075 shares in the company, valued at $1,247,251,255.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jerry James Hunter sold 8,097 shares of Snap stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $13.89, for a total value of $112,467.33. Following the sale, the vice president now owns 1,562,002 shares of the company’s stock, valued at $21,696,207.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,645,114 shares of company stock valued at $40,872,717.

Large investors have recently added to or reduced their stakes in the company. Stephens Inc. AR bought a new stake in shares of Snap during the third quarter worth $182,000. Aperio Group LLC raised its holdings in shares of Snap by 199.6% in the second quarter. Aperio Group LLC now owns 35,988 shares of the company’s stock valued at $515,000 after acquiring an additional 23,976 shares in the last quarter. Carlson Capital Management raised its holdings in shares of Snap by 16.8% in the third quarter. Carlson Capital Management now owns 21,163 shares of the company’s stock valued at $334,000 after acquiring an additional 3,045 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Snap by 41.3% in the second quarter. Bank of New York Mellon Corp now owns 842,232 shares of the company’s stock valued at $12,044,000 after acquiring an additional 246,345 shares in the last quarter. Finally, Atria Investments LLC bought a new stake in shares of Snap in the second quarter valued at about $560,000. Institutional investors and hedge funds own 26.73% of the company’s stock.

Snap Company Profile

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

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Analyst Recommendations for Snap (NYSE:SNAP)

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