Susquehanna Raises Snap (NYSE:SNAP) Price Target to $15.00

Snap (NYSE:SNAP) had its target price upped by Susquehanna from $12.00 to $15.00 in a report issued on Monday morning, Benzinga reports. Susquehanna currently has a neutral rating on the stock.

SNAP has been the topic of several other reports. Barclays lifted their target price on shares of Snap from $15.00 to $17.00 and gave the stock an overweight rating in a research note on Friday, April 26th. Morgan Stanley lifted their target price on shares of Snap from $11.00 to $12.00 and gave the stock an underweight rating in a research note on Friday, April 26th. Roth Mkm reaffirmed a neutral rating and issued a $14.00 target price on shares of Snap in a research note on Tuesday, April 23rd. Rosenblatt Securities lifted their target price on shares of Snap from $12.00 to $14.00 and gave the stock a neutral rating in a research note on Friday, April 26th. Finally, UBS Group cut their price target on shares of Snap from $14.00 to $13.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $14.79.

Snap Trading Up 5.3 %

SNAP stock opened at $15.85 on Monday. The company has a market capitalization of $26.16 billion, a PE ratio of -19.57 and a beta of 1.13. Snap has a one year low of $7.86 and a one year high of $17.90. The company’s 50 day moving average price is $11.51 and its two-hundred day moving average price is $12.99. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 3.76.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, April 25th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.10. Snap had a negative net margin of 26.99% and a negative return on equity of 46.62%. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. As a group, analysts predict that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other news, CEO Evan Spiegel sold 150,000 shares of Snap stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $14.35, for a total value of $2,152,500.00. Following the completion of the transaction, the chief executive officer now owns 3,477,844 shares of the company’s stock, valued at approximately $49,907,061.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Snap news, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the transaction, the chief financial officer now owns 2,534,689 shares of the company’s stock, valued at approximately $27,856,232.11. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $14.35, for a total value of $2,152,500.00. Following the completion of the transaction, the chief executive officer now directly owns 3,477,844 shares of the company’s stock, valued at approximately $49,907,061.40. The disclosure for this sale can be found here. Insiders sold a total of 1,607,482 shares of company stock valued at $21,496,511 in the last quarter.

Hedge Funds Weigh In On Snap

A number of hedge funds have recently bought and sold shares of SNAP. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in Snap by 7.6% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 191,542 shares of the company’s stock worth $1,707,000 after buying an additional 13,500 shares during the last quarter. Compass Advisory Group LLC increased its position in shares of Snap by 13.2% during the 3rd quarter. Compass Advisory Group LLC now owns 13,678 shares of the company’s stock valued at $122,000 after purchasing an additional 1,591 shares during the last quarter. Avaii Wealth Management LLC increased its position 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 purchasing an additional 3,080 shares during the last quarter. Forsta AP Fonden increased its position in shares of Snap by 3.6% during the 3rd quarter. Forsta AP Fonden now owns 238,700 shares of the company’s stock valued at $2,127,000 after purchasing an additional 8,400 shares during the last quarter. Finally, Miracle Mile Advisors LLC increased its position in shares of Snap by 54.5% during the 3rd quarter. Miracle Mile Advisors LLC now owns 21,263 shares of the company’s stock valued at $189,000 after purchasing an additional 7,500 shares during the last quarter. Hedge funds and other institutional investors own 47.52% of the company’s stock.

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.