Snap (NYSE:SNAP) PT Lowered to $11.00 at Stifel Nicolaus

Snap (NYSE:SNAP) had its price target cut by Stifel Nicolaus from $13.00 to $11.00 in a research note released on Monday, Benzinga reports. They currently have a hold rating on the stock.

Several other equities research analysts have also recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Snap from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley raised shares of Snap from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $12.00 to $16.00 in a research note on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $8.00 target price on shares of Snap in a research note on Monday, October 7th. Benchmark reaffirmed a “hold” rating on shares of Snap in a research note on Tuesday, August 6th. Finally, Wolfe Research assumed coverage on shares of Snap in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.77.

Snap Price Performance

Shares of NYSE SNAP opened at $10.74 on Monday. The firm has a market cap of $17.62 billion, a PE ratio of -13.26 and a beta of 1.01. The firm has a fifty day moving average of $9.72 and a 200 day moving average of $12.74. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. Snap has a one year low of $8.29 and a one year high of $17.90.

Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.25 billion. As a group, research analysts predict that Snap will post -0.47 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $13.28, for a total value of $239,040.00. Following the transaction, the general counsel now owns 463,908 shares of the company’s stock, valued at $6,160,698.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Snap news, CFO Derek Andersen sold 97,608 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the sale, the chief financial officer now directly owns 2,287,970 shares in the company, valued at $21,255,241.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $13.28, for a total transaction of $239,040.00. Following the sale, the general counsel now owns 463,908 shares in the company, valued at $6,160,698.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,510,352 shares of company stock valued at $13,446,353 over the last 90 days. 22.68% of the stock is owned by insiders.

Institutional Trading of Snap

Institutional investors and hedge funds have recently bought and sold shares of the business. Dynamic Advisor Solutions LLC purchased a new stake in Snap during the third quarter worth about $832,000. Exchange Traded Concepts LLC increased its stake in shares of Snap by 38.7% during the third quarter. Exchange Traded Concepts LLC now owns 784,982 shares of the company’s stock worth $8,399,000 after buying an additional 219,111 shares during the period. APG Asset Management N.V. increased its stake in shares of Snap by 3.9% during the second quarter. APG Asset Management N.V. now owns 2,957,491 shares of the company’s stock worth $45,835,000 after buying an additional 112,135 shares during the period. V Square Quantitative Management LLC increased its stake in shares of Snap by 72.7% during the fourth quarter. V Square Quantitative Management LLC now owns 11,119 shares of the company’s stock worth $188,000 after buying an additional 4,679 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of Snap during the first quarter worth approximately $3,233,000. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

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.