Snap (NYSE:SNAP) Price Target Lowered to $8.00 at Susquehanna

Snap (NYSE:SNAP) had its price target decreased by research analysts at Susquehanna from $13.00 to $8.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price target would suggest a potential upside of 2.24% from the company’s current price.

Several other research analysts have also issued reports on the company. The Goldman Sachs Group lowered their target price on Snap from $13.50 to $9.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. Barclays reissued an “overweight” rating on shares of Snap in a research note on Wednesday, February 5th. Rosenblatt Securities reduced their price objective on Snap from $12.00 to $9.00 and set a “neutral” rating for the company in a research note on Wednesday. BMO Capital Markets cut their price target on Snap from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Stifel Nicolaus lowered their target price on shares of Snap from $11.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.58.

Snap Price Performance

Snap stock opened at $7.83 on Wednesday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. The stock has a market capitalization of $13.27 billion, a P/E ratio of -18.63 and a beta of 0.92. Snap has a 52 week low of $7.08 and a 52 week high of $17.33. The stock has a fifty day moving average of $8.73 and a 200-day moving average of $10.41.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.12). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company posted $0.03 earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts expect that Snap will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $9.04, for a total value of $9,040,000.00. Following the completion of the sale, the chief technology officer now directly owns 55,818,548 shares of the company’s stock, valued at $504,599,673.92. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Rebecca Morrow sold 8,837 shares of Snap stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $10.84, for a total value of $95,793.08. Following the completion of the transaction, the chief accounting officer now directly owns 429,892 shares in the company, valued at $4,660,029.28. This trade represents a 2.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,362,523 shares of company stock valued at $12,689,017 in the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors boosted its position in shares of Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after purchasing an additional 23,569,522 shares in the last quarter. SRS Investment Management LLC grew its stake in shares of Snap by 1.4% in the fourth quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock worth $793,998,000 after acquiring an additional 1,001,632 shares during the period. Capital International Investors purchased a new stake in Snap during the 4th quarter valued at $422,049,000. Geode Capital Management LLC lifted its holdings in Snap by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock valued at $127,078,000 after acquiring an additional 134,017 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 worth $76,201,000 after purchasing an additional 828,285 shares during the period. 47.52% of the stock is currently 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.