Snap (NYSE:SNAP) Given New $13.00 Price Target at Stifel Nicolaus

Snap (NYSE:SNAP) had its target price boosted by Stifel Nicolaus from $12.00 to $13.00 in a report released on Friday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other research firms have also issued reports on SNAP. Roth Mkm reiterated a neutral rating and set a $14.00 target price on shares of Snap in a report on Tuesday. Morgan Stanley reduced their target price on shares of Snap from $13.00 to $11.00 and set an underweight rating on the stock in a report on Wednesday, February 7th. Royal Bank of Canada raised their price objective on shares of Snap from $13.00 to $16.00 and gave the company a sector perform rating in a report on Friday. Rosenblatt Securities raised their price objective on shares of Snap from $12.00 to $14.00 and gave the company a neutral rating in a report on Friday. Finally, HSBC upgraded shares of Snap from a reduce rating to a buy rating in a report on Friday. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Hold and an average target price of $14.67.

Snap Stock Performance

NYSE:SNAP opened at $14.53 on Friday. 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 stock has a market capitalization of $23.98 billion, a P/E ratio of -17.94 and a beta of 1.13. The company has a 50 day moving average price of $11.26 and a 200 day moving average price of $12.84. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 45.02%. Equities research analysts forecast that Snap will post -0.58 EPS for the current year.

Insider Activity

In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction dated 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 $7,449,840.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction dated 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 $7,449,840.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Rebecca Morrow sold 2,442 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.00, for a total transaction of $26,862.00. Following the completion of the sale, the chief accounting officer now owns 493,084 shares of the company’s stock, valued at approximately $5,423,924. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock valued at $5,284,091 over the last quarter. Corporate insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sowell Financial Services LLC raised its position in Snap by 3.3% during the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock worth $392,000 after acquiring an additional 729 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in Snap by 2.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock worth $698,000 after acquiring an additional 891 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position 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 acquiring an additional 1,000 shares during the last quarter. Impax Asset Management Group plc raised its position 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 during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Snap by 7.1% in the third quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock valued at $137,000 after buying an additional 1,025 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.