Wells Fargo & Company Issues Positive Forecast for Snap (NYSE:SNAP) Stock Price

Snap (NYSE:SNAP) had its target price upped by Wells Fargo & Company from $8.00 to $10.00 in a report issued on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

SNAP has been the topic of a number of other research reports. Cantor Fitzgerald boosted their price objective on shares of Snap from $7.00 to $9.00 and gave the stock a “neutral” rating in a research report on Thursday. Mizuho initiated coverage on shares of Snap in a research note on Monday, September 29th. They issued a “neutral” rating and a $9.00 price target on the stock. UBS Group cut their price target on shares of Snap from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Stifel Nicolaus cut Snap from a “hold” rating to a “sell” rating and decreased their price objective for the company from $8.00 to $6.50 in a report on Friday, October 24th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Snap in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $34.94.

Snap Stock Up 9.7%

SNAP stock opened at $8.01 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88. The stock has a market capitalization of $13.54 billion, a P/E ratio of -27.62 and a beta of 0.89. Snap has a fifty-two week low of $6.90 and a fifty-two week high of $13.28. The business has a 50-day moving average of $7.82 and a 200-day moving average of $8.25.

Snap (NYSE:SNAP) last released its earnings results on Wednesday, November 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). Snap had a negative net margin of 8.60% and a negative return on equity of 21.49%. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the previous year, the firm posted ($0.09) EPS. The company’s revenue was up 9.8% on a year-over-year basis. Snap has set its Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Snap will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Michael J. O’sullivan sold 24,000 shares of the stock in a transaction 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 sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizabeth Jenkins sold 7,900 shares of Snap stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $7.07, for a total transaction of $55,853.00. Following the transaction, the director directly owned 65,663 shares of the company’s stock, valued at approximately $464,237.41. This trade represents a 10.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 510,569 shares of company stock valued at $3,741,723. Corporate insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Several large investors have recently modified their holdings of the stock. DMC Group LLC lifted its stake in shares of Snap by 7.2% during the 1st quarter. DMC Group LLC now owns 19,547 shares of the company’s stock worth $170,000 after buying an additional 1,313 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in Snap by 9.2% in the 2nd quarter. Apollon Wealth Management LLC now owns 15,934 shares of the company’s stock valued at $138,000 after acquiring an additional 1,340 shares during the period. Zullo Investment Group Inc. lifted its position in Snap by 12.8% during the second quarter. Zullo Investment Group Inc. now owns 12,040 shares of the company’s stock worth $105,000 after acquiring an additional 1,365 shares during the last quarter. Orion Porfolio Solutions LLC boosted its holdings in shares of Snap by 8.3% during the second quarter. Orion Porfolio Solutions LLC now owns 18,913 shares of the company’s stock worth $164,000 after acquiring an additional 1,451 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Snap by 2.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 70,608 shares of the company’s stock worth $614,000 after acquiring an additional 1,743 shares during the period. 47.52% of the stock is 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.