Snap Inc. (NYSE:SNAP) Stock Has Consensus Target Price of $7.31 According to Brokerages

Shares of Snap Inc. (NYSE:SNAP) have received a consensus recommendation of “Hold” from the thirty-seven research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $7.31.

A number of equities research analysts have recently commented on SNAP shares. Cantor Fitzgerald dropped their target price on Snap from $6.00 to $5.00 and set a “neutral” rating on the stock in a research report on Thursday, November 5th. Barclays reduced their price target on Snap from $16.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, November 5th. DA Davidson increased their price target on Snap from $5.00 to $5.25 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Weiss Ratings reissued a “sell (e+)” rating on shares of Snap in a report on Thursday, October 15th. Finally, UBS Group restated a “buy” rating on shares of Snap in a research report on Thursday.

Snap Price Performance

NYSE:SNAP opened at $5.03 on Friday. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.94 and a quick ratio of 2.94. The company has a 50 day moving average price of $5.74 and a 200-day moving average price of $5.39. Snap has a 1-year low of $3.81 and a 1-year high of $9.13. The firm has a market cap of $8.50 billion, a price-to-earnings ratio of -55.83 and a beta of 1.23.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.03 earnings per share (EPS) for the quarter. Snap had a negative net margin of 2.30% and a negative return on equity of 7.21%. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period in the prior year, the firm posted ($0.06) earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Equities research analysts forecast that Snap will post -0.03 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Douglas Hott sold 131,884 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $5.20, for a total value of $685,796.80. Following the completion of the sale, the chief financial officer owned 2,324,563 shares of the company’s stock, valued at approximately $12,087,727.60. The trade was a 5.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Zachary M. Briers sold 136,504 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.20, for a total transaction of $709,820.80. Following the completion of the sale, the general counsel directly owned 2,424,331 shares of the company’s stock, valued at approximately $12,606,521.20. The trade was a 5.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 445,926 shares of company stock worth $2,326,930.

Institutional Trading of Snap

A number of institutional investors and hedge funds have recently modified their holdings of the stock. West Family Investments Inc. acquired a new position in shares of Snap during the 3rd quarter worth about $67,000. Russell Investments Group Ltd. increased its stake in Snap by 9.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,228,614 shares of the company’s stock worth $22,765,000 after buying an additional 375,301 shares in the last quarter. R Squared Ltd acquired a new position in shares of Snap during the third quarter valued at approximately $197,000. Ritholtz Wealth Management acquired a new position in shares of Snap during the third quarter valued at approximately $130,000. Finally, Jacobi Capital Management LLC acquired a new position in shares of Snap during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap Company Profile

Snap Inc is a technology company best known for Snapchat, a mobile application for visual communication. The company’s products and services help people share photos and videos, message friends, and explore content from creators and publishers.

Snapchat features include Stories, Spotlight for short-form video, Snap Map, and augmented reality tools such as interactive Lenses. Snap also provides advertising solutions to businesses and develops camera-related products and services, including its Spectacles smart glasses and Snap AR platform.

Founded in 2011, Snap is headquartered in Santa Monica, California, and serves users and advertisers in markets around the world.