Snap (NYSE:SNAP) had its target price boosted by Nomura from $9.00 to $10.00 in a research report released on Wednesday, BenzingaRatingsTable reports. They currently have a neutral rating on the stock.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Snap from a hold rating to a buy rating and set a $7.25 price objective for the company in a research report on Tuesday, January 29th. BTIG Research raised shares of Snap from a neutral rating to a buy rating and set a $15.00 target price for the company in a report on Thursday, March 14th. ValuEngine lowered shares of Snap from a buy rating to a hold rating in a report on Friday, January 4th. Pivotal Research lowered shares of Snap from a buy rating to a hold rating and lowered their target price for the stock from $8.00 to $6.00 in a report on Monday, January 7th. Finally, Aegis lowered their target price on shares of Snap from $10.00 to $7.00 and set a hold rating for the company in a report on Wednesday, January 16th. Four research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Snap presently has an average rating of Hold and a consensus target price of $10.36.
SNAP stock traded down $0.23 during trading on Wednesday, hitting $11.03. The company had a trading volume of 6,476,024 shares, compared to its average volume of 24,241,210. Snap has a 12 month low of $4.82 and a 12 month high of $15.67. The stock has a market capitalization of $15.84 billion, a PE ratio of -11.37 and a beta of 1.18.
Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Snap had a negative return on equity of 46.43% and a negative net margin of 92.94%. The company had revenue of $320.43 million during the quarter, compared to the consensus estimate of $306.28 million. During the same quarter last year, the firm earned ($0.17) EPS. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, equities research analysts anticipate that Snap will post -0.68 earnings per share for the current year.
In other news, General Counsel Michael J. O’sullivan sold 18,484 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $9.30, for a total value of $171,901.20. Following the completion of the transaction, the general counsel now owns 1,052,078 shares of the company’s stock, valued at approximately $9,784,325.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Evan Spiegel sold 4,447,107 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $9.98, for a total transaction of $44,382,127.86. Following the completion of the transaction, the chief executive officer now directly owns 74,450,661 shares of the company’s stock, valued at approximately $743,017,596.78. The disclosure for this sale can be found here. Insiders sold a total of 6,643,476 shares of company stock valued at $66,573,374 in the last three months.
Several hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in Snap by 97.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 479,423 shares of the company’s stock worth $4,066,000 after purchasing an additional 236,816 shares during the period. Dimensional Fund Advisors LP boosted its stake in Snap by 1,737.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,157,460 shares of the company’s stock worth $9,817,000 after purchasing an additional 1,094,467 shares during the period. LPL Financial LLC boosted its stake in Snap by 19.4% in the 3rd quarter. LPL Financial LLC now owns 85,497 shares of the company’s stock worth $725,000 after purchasing an additional 13,898 shares during the period. Paloma Partners Management Co acquired a new position in Snap in the 3rd quarter worth $115,000. Finally, Pacer Advisors Inc. acquired a new position in Snap in the 3rd quarter worth $304,000. 23.32% of the stock is owned by institutional investors.
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.
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