Snap (NYSE:SNAP) Given New $15.00 Price Target at Canaccord Genuity Group

Snap (NYSE:SNAP) had its price objective raised by Canaccord Genuity Group from $14.00 to $15.00 in a research note published on Friday morning, Benzinga reports. Canaccord Genuity Group currently has a hold rating on the stock.

A number of other equities analysts have also recently commented on the stock. The Goldman Sachs Group dropped 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. Stifel Nicolaus reduced their price objective on Snap from $14.00 to $12.00 and set a hold rating on the stock in a research note on Tuesday, April 16th. HSBC upgraded Snap from a reduce rating to a buy rating in a report on Friday. Royal Bank of Canada cut their target price on Snap from $17.00 to $13.00 and set a sector perform rating on the stock in a research report on Wednesday, February 7th. Finally, Rosenblatt Securities raised their price target on Snap from $12.00 to $14.00 and gave the stock a neutral rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $14.67.

Snap Stock Performance

SNAP opened at $14.53 on Friday. The stock has a market capitalization of $23.98 billion, a price-to-earnings ratio of -17.94 and a beta of 1.13. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The company has a fifty day moving average of $11.26 and a 200 day moving average of $12.84.

Snap (NYSE:SNAP) last posted its earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative return on equity of 45.02% and a negative net margin of 26.99%. As a group, sell-side analysts forecast that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other Snap news, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the transaction, the chief accounting officer now directly owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the sale, the chief accounting officer now directly owns 495,526 shares in the company, valued at approximately $5,520,159.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the transaction, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock valued at $5,284,091 in the last 90 days. Insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Large investors have recently bought and sold shares of the company. HCR Wealth Advisors increased its stake in shares of Snap by 10.0% in the third quarter. HCR Wealth Advisors now owns 23,162 shares of the company’s stock worth $206,000 after acquiring an additional 2,098 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Snap by 7.6% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 191,542 shares of the company’s stock valued at $1,707,000 after purchasing an additional 13,500 shares during the last quarter. Compass Advisory Group LLC grew its position in Snap by 13.2% during the 3rd quarter. Compass Advisory Group LLC now owns 13,678 shares of the company’s stock worth $122,000 after purchasing an additional 1,591 shares during the period. Avaii Wealth Management LLC raised its stake in shares of Snap by 24.2% during the 3rd quarter. Avaii Wealth Management LLC now owns 15,819 shares of the company’s stock valued at $141,000 after buying an additional 3,080 shares during the last quarter. Finally, Forsta AP Fonden lifted its holdings in shares of Snap by 3.6% in the 3rd quarter. Forsta AP Fonden now owns 238,700 shares of the company’s stock valued at $2,127,000 after buying an additional 8,400 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.