Brokerages Set Snap Inc. (NYSE:SNAP) PT at $36.47

Shares of Snap Inc. (NYSE:SNAP) have received a consensus rating of “Hold” from the thirty-three ratings firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $36.32.

SNAP has been the subject of a number of research reports. UBS Group dropped their target price on shares of Snap from $14.00 to $9.00 and set a “neutral” rating for the company in a report on Friday. Citigroup increased their price objective on shares of Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. BMO Capital Markets restated an “outperform” rating and issued a $16.00 target price (down previously from $18.00) on shares of Snap in a research report on Wednesday, January 15th. Wells Fargo & Company lowered their price target on shares of Snap from $11.00 to $9.00 and set an “equal weight” rating for the company in a report on Monday, March 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $16.00 price objective on shares of Snap in a report on Monday, January 27th.

Insider Buying and Selling at Snap

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $11.49, for a total value of $206,820.00. Following the sale, the general counsel now owns 480,498 shares in the company, valued at $5,520,922.02. This represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Rebecca Morrow sold 8,837 shares of the 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 sale, the chief accounting officer now directly owns 429,892 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders sold 1,356,523 shares of company stock valued at $12,710,077. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Large investors have recently bought and sold shares of the stock. NBC Securities Inc. raised its holdings in shares of Snap by 154,650.0% in the first quarter. NBC Securities Inc. now owns 3,095 shares of the company’s stock valued at $26,000 after purchasing an additional 3,093 shares during the last quarter. Mountain Hill Investment Partners Corp. bought a new stake in Snap in the 4th quarter worth about $27,000. Raiffeisen Bank International AG purchased a new stake in Snap in the 4th quarter valued at about $30,000. Comprehensive Financial Planning Inc. PA bought a new position in shares of Snap during the 4th quarter worth approximately $32,000. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Snap in the 4th quarter worth approximately $43,000. 47.52% of the stock is currently owned by institutional investors.

Snap Stock Performance

Shares of NYSE:SNAP opened at $7.99 on Friday. Snap has a 1 year low of $7.08 and a 1 year high of $17.33. The stock has a market capitalization of $13.55 billion, a price-to-earnings ratio of -19.01 and a beta of 0.92. The company has a debt-to-equity ratio of 1.47, a current ratio of 3.95 and a quick ratio of 3.95. The company’s 50 day simple moving average is $9.48 and its 200 day simple moving average is $10.67.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, research analysts predict that Snap will post -0.3 EPS for the current fiscal year.

About Snap

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.