Snap (NYSE:SNAP) Price Target Increased to $16.00 by Analysts at The Goldman Sachs Group

Snap (NYSE:SNAP) had its price objective boosted by The Goldman Sachs Group from $13.50 to $16.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group upped their price objective on Snap from $14.00 to $15.00 and gave the stock a hold rating in a research note on Friday. Stifel Nicolaus upped their price objective on Snap from $12.00 to $13.00 and gave the stock a hold rating in a research note on Friday. Evercore ISI upped their price objective on Snap from $13.00 to $14.00 and gave the stock an in-line rating in a research note on Friday. Benchmark restated a hold rating on shares of Snap in a research note on Friday. Finally, Royal Bank of Canada upped their price objective on Snap from $13.00 to $16.00 and gave the stock a sector perform rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Snap presently has an average rating of Hold and a consensus target price of $14.67.

Snap Price Performance

SNAP opened at $14.53 on Friday. Snap has a 12-month low of $7.86 and a 12-month high of $17.90. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. The business’s fifty day simple moving average is $11.26 and its 200-day simple moving average is $12.84. The company has a market capitalization of $23.98 billion, a price-to-earnings ratio of -17.94 and a beta of 1.13.

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

Insider Transactions at Snap

In other news, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the transaction, the chief accounting officer now directly owns 495,526 shares in the company, valued at $5,520,159.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Derek Andersen sold 96,953 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 2,534,689 shares of the company’s stock, valued at $27,856,232.11. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the sale, the chief accounting officer now directly owns 495,526 shares in the company, valued at $5,520,159.64. The disclosure for this sale can be found here. Insiders sold a total of 470,482 shares of company stock worth $5,284,091 over the last three months. 22.68% of the stock is currently owned by insiders.

Institutional Trading of Snap

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sowell Financial Services LLC grew its holdings in Snap by 3.3% during the fourth quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock worth $392,000 after acquiring an additional 729 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Snap by 2.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after purchasing an additional 891 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in shares of Snap by 3.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock valued at $533,000 after buying an additional 1,000 shares in the last quarter. Impax Asset Management Group plc increased its position in shares of Snap by 4.5% in the third quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock valued at $209,000 after buying an additional 1,017 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Snap by 7.1% in the third quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock valued at $137,000 after buying an additional 1,025 shares in the last quarter. 47.52% of the stock is owned by institutional investors and hedge funds.

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.