Stifel Nicolaus Issues Pessimistic Forecast for Snap (NYSE:SNAP) Stock Price

Snap (NYSE:SNAP) had its price objective cut by Stifel Nicolaus from $11.00 to $8.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a hold rating on the stock.

A number of other research analysts have also weighed in on SNAP. Citigroup decreased their target price on shares of Snap from $13.50 to $9.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. The Goldman Sachs Group reduced their price objective on Snap from $13.50 to $9.50 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Morgan Stanley dropped their target price on Snap from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, April 17th. Barclays reaffirmed an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Finally, Piper Sandler lowered their price target on shares of Snap from $13.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. One analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.49.

Snap Stock Performance

Shares of NYSE:SNAP opened at $7.98 on Wednesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. Snap has a 1 year low of $7.08 and a 1 year high of $17.33. The firm has a market capitalization of $13.54 billion, a PE ratio of -19.00 and a beta of 0.92. The business’s 50 day moving average price is $9.06 and its 200-day moving average price is $10.53.

Snap (NYSE:SNAP) last announced its earnings results on Tuesday, February 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, equities research analysts expect that Snap will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Rebecca Morrow sold 8,837 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $95,793.08. Following the completion of the transaction, the chief accounting officer now owns 429,892 shares in the company, valued at approximately $4,660,029.28. The trade was a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Derek Andersen sold 61,334 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total value of $664,860.56. Following the completion of the transaction, the chief financial officer now directly owns 3,564,235 shares in the company, valued at $38,636,307.40. This trade represents a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,356,523 shares of company stock worth $12,710,077 in the last quarter. 22.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors lifted its stake in Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock worth $906,161,000 after purchasing an additional 23,569,522 shares during the last quarter. SRS Investment Management LLC lifted its position in shares of Snap by 1.4% during the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock worth $793,998,000 after buying an additional 1,001,632 shares during the last quarter. Capital International Investors acquired a new position in shares of Snap in the 4th quarter valued at $422,049,000. Geode Capital Management LLC grew its position in shares of Snap by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock valued at $127,078,000 after buying an additional 134,017 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Snap by 13.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company’s stock valued at $76,201,000 after buying an additional 828,285 shares during the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

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.