Snap (NYSE:SNAP) Price Target Increased to $18.00 by Analysts at Wells Fargo & Company

Snap (NYSE:SNAP) had its target price boosted by Wells Fargo & Company from $16.00 to $18.00 in a report issued on Friday, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. UBS Group cut their price target on Snap from $14.00 to $13.00 and set a neutral rating on the stock in a research note on Tuesday, April 16th. Morgan Stanley increased their target price on Snap from $11.00 to $12.00 and gave the company an underweight rating in a research note on Friday. Rosenblatt Securities raised their price target on shares of Snap from $12.00 to $14.00 and gave the stock a neutral rating in a research report on Friday. Stifel Nicolaus upped their price target on shares of Snap from $12.00 to $13.00 and gave the company a hold rating in a report on Friday. Finally, Evercore ISI raised their price objective on shares of Snap from $13.00 to $14.00 and gave the stock an in-line rating in a report 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 stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $14.79.

Snap Trading Down 0.4 %

SNAP opened at $14.49 on Friday. The firm’s 50 day moving average is $11.33 and its 200-day moving average is $12.93. Snap has a 52-week low of $7.86 and a 52-week high of $17.90. The company has a quick ratio of 4.39, a current ratio of 4.39 and a debt-to-equity ratio of 1.55. The firm has a market capitalization of $23.92 billion, a P/E ratio of -17.89 and a beta of 1.13.

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

Insider Buying and Selling

In other Snap news, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction on 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the completion of the transaction, the general counsel now directly owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the sale, the chief accounting officer now 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 in the last three months. 22.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SNAP. NBC Securities Inc. raised its stake in shares of Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after purchasing an additional 1,445 shares in the last quarter. Allworth Financial LP increased its stake in Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after buying an additional 1,708 shares during the period. ICA Group Wealth Management LLC bought a new stake in shares of Snap during the 4th quarter worth about $51,000. Rakuten Securities Inc. bought a new stake in shares of Snap during the 4th quarter worth about $73,000. Finally, Westpac Banking Corp lifted its stake in shares of Snap by 108.7% in the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after acquiring an additional 2,506 shares during the period. 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.