Stifel Nicolaus Trims Snap (NYSE:SNAP) Target Price to $12.00

Snap (NYSE:SNAP) had its target price decreased by analysts at Stifel Nicolaus from $14.00 to $12.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 16.11% from the company’s previous close.

A number of other research firms have also weighed in on SNAP. Piper Sandler upped their target price on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. Rosenblatt Securities increased their price objective on shares of Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. The Goldman Sachs Group decreased their price objective on shares of Snap from $15.00 to $13.50 and set a “neutral” rating for the company in a research note on Thursday, February 8th. Royal Bank of Canada decreased their price objective on shares of Snap from $17.00 to $13.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 7th. Finally, Guggenheim upgraded shares of Snap from a “neutral” rating to a “buy” rating and increased their price objective for the company from $9.00 to $23.00 in a research note on Monday, December 18th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Snap has a consensus rating of “Hold” and an average target price of $13.61.

Snap Trading Down 4.7 %

SNAP opened at $10.34 on Tuesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The firm has a market capitalization of $17.06 billion, a PE ratio of -12.45 and a beta of 1.13. The company’s 50-day moving average is $11.35 and its 200 day moving average is $12.72.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.39 billion. As a group, research analysts predict that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Eric Young sold 120,472 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the transaction, the senior vice president now directly owns 3,540,852 shares of the company’s stock, valued at approximately $39,409,682.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Eric Young sold 120,472 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $11.13, for a total value of $1,340,853.36. Following the completion of the transaction, the senior vice president now directly owns 3,540,852 shares of the company’s stock, valued at approximately $39,409,682.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Derek Andersen sold 96,953 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the completion of the transaction, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at $27,856,232.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 470,054 shares of company stock valued at $5,279,729.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SNAP. SRS Investment Management LLC raised its position in shares of Snap by 23.6% during the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after buying an additional 12,452,415 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Snap by 95.8% during the 1st quarter. Wellington Management Group LLP now owns 17,811,242 shares of the company’s stock valued at $641,028,000 after buying an additional 8,712,380 shares in the last quarter. Carmignac Gestion purchased a new stake in shares of Snap during the 4th quarter valued at $110,103,000. Contrarius Investment Management Ltd purchased a new stake in shares of Snap during the 4th quarter valued at $80,644,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Snap by 28.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 18,959,640 shares of the company’s stock valued at $320,988,000 after buying an additional 4,243,620 shares in the last quarter. 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.