Snap (NYSE:SNAP) Price Target Raised to $9.00

Snap (NYSE:SNAP) had its target price lifted by equities researchers at Cantor Fitzgerald from $7.00 to $9.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price points to a potential upside of 5.87% from the company’s previous close.

SNAP has been the subject of several other research reports. Truist Financial decreased their price target on Snap from $11.00 to $10.00 and set a “hold” rating for the company in a research note on Wednesday, August 6th. Sanford C. Bernstein increased their price target on Snap from $9.00 to $10.00 and gave the company a “market perform” rating in a research note on Tuesday, July 22nd. New Street Research cut Snap from a “buy” rating to a “neutral” rating in a research note on Tuesday, October 28th. Citizens Jmp reaffirmed a “market perform” rating on shares of Snap in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company raised their target price on Snap from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Four research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Snap currently has an average rating of “Hold” and a consensus price target of $34.72.

Snap Trading Up 16.5%

Shares of SNAP stock traded up $1.20 on Thursday, hitting $8.50. The company had a trading volume of 35,342,052 shares, compared to its average volume of 52,303,980. The firm has a market cap of $14.37 billion, a P/E ratio of -26.11 and a beta of 0.89. The stock’s 50-day moving average is $7.80 and its two-hundred day moving average is $8.25. The company has a debt-to-equity ratio of 1.73, a quick ratio of 3.88 and a current ratio of 3.88. Snap has a twelve month low of $6.90 and a twelve month high of $13.28.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.12). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.49 billion. Snap had a negative net margin of 9.69% and a negative return on equity of 23.32%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.09) EPS. Snap has set its Q4 2025 guidance at EPS. On average, equities research analysts anticipate that Snap will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 24,000 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $7.73, for a total value of $185,520.00. Following the transaction, the general counsel owned 490,454 shares in the company, valued at approximately $3,791,209.42. This represents a 4.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Derek Andersen sold 33,871 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $7.56, for a total value of $256,064.76. Following the completion of the transaction, the chief financial officer owned 3,109,581 shares in the company, valued at approximately $23,508,432.36. The trade was a 1.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 510,569 shares of company stock worth $3,741,723. Company insiders own 22.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC boosted its holdings in Snap by 169.9% in the second quarter. Signaturefd LLC now owns 2,942 shares of the company’s stock worth $26,000 after acquiring an additional 1,852 shares in the last quarter. Quarry LP bought a new position in Snap in the first quarter worth approximately $34,000. Itau Unibanco Holding S.A. bought a new position in Snap in the first quarter worth approximately $35,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Snap in the third quarter worth approximately $33,000. Finally, Wealth Preservation Advisors LLC bought a new position in Snap in the first quarter worth approximately $44,000. Institutional investors own 47.52% of the company’s stock.

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.