Snap (NYSE:SNAP) Price Target Raised to $11.00 at Truist Financial

Snap (NYSE:SNAP) had its price target lifted by Truist Financial from $10.00 to $11.00 in a report published on Friday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other analysts have also weighed in on SNAP. Susquehanna restated a “neutral” rating and set a $9.00 target price on shares of Snap in a research note on Thursday. UBS Group boosted their price target on shares of Snap from $9.00 to $10.00 and gave the stock a “neutral” rating in a report on Thursday. Rosenblatt Securities increased their price objective on shares of Snap from $8.70 to $9.50 and gave the company a “neutral” rating in a research report on Thursday. Guggenheim reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Snap in a research report on Friday, September 12th. Finally, Bank of America dropped their target price on Snap from $10.00 to $9.50 and set a “neutral” rating on the stock in a report on Wednesday, August 6th. Four equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $34.98.

Snap Stock Up 2.2%

Shares of Snap stock traded up $0.17 during trading hours on Friday, reaching $8.18. 70,035,527 shares of the company were exchanged, compared to its average volume of 52,545,716. The firm has a market cap of $13.83 billion, a PE ratio of -28.22 and a beta of 0.89. 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 1 year low of $6.90 and a 1 year high of $13.28. The stock’s fifty day moving average is $7.84 and its 200 day moving average is $8.25.

Snap (NYSE:SNAP) last released its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter last year, the business posted ($0.09) earnings per share. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Snap has set its Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Snap will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 68,705 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $7.18, for a total transaction of $493,301.90. Following the transaction, the general counsel owned 2,015,624 shares of the company’s stock, valued at approximately $14,472,180.32. This trade represents a 3.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ajit Mohan sold 184,287 shares of Snap stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $7.18, for a total value of $1,323,180.66. Following the sale, the insider owned 5,492,006 shares in the company, valued at $39,432,603.08. This trade represents a 3.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 510,569 shares of company stock worth $3,741,723 over the last 90 days. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. Vanguard Group Inc. increased its holdings in shares of Snap by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 109,483,491 shares of the company’s stock valued at $953,601,000 after acquiring an additional 6,921,841 shares during the period. AQR Capital Management LLC grew its position in Snap by 110.4% during the 1st quarter. AQR Capital Management LLC now owns 11,300,874 shares of the company’s stock worth $95,549,000 after purchasing an additional 5,930,766 shares during the last quarter. SG Americas Securities LLC grew its position in Snap by 4,603.7% during the 2nd quarter. SG Americas Securities LLC now owns 3,006,711 shares of the company’s stock worth $26,128,000 after purchasing an additional 2,942,789 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Snap by 38.8% in the first quarter. Jacobs Levy Equity Management Inc. now owns 4,777,523 shares of the company’s stock valued at $41,612,000 after purchasing an additional 1,336,264 shares during the period. Finally, Invenomic Capital Management LP raised its holdings in shares of Snap by 180.2% in the first quarter. Invenomic Capital Management LP now owns 1,983,447 shares of the company’s stock valued at $17,276,000 after buying an additional 1,275,630 shares during the last quarter. Hedge funds and other 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.