Snap (NYSE:SNAP) had its price target upped by Morgan Stanley from $11.00 to $12.00 in a report published on Thursday. The brokerage currently has an underweight rating on the stock.

A number of other research analysts have also recently commented on the stock. Vetr upgraded shares of Snap from a buy rating to a strong-buy rating and set a $23.05 price target on the stock in a report on Tuesday, February 20th. Credit Suisse Group restated a buy rating and issued a $18.00 price target on shares of Snap in a report on Tuesday, January 9th. Zacks Investment Research upgraded shares of Snap from a hold rating to a buy rating and set a $16.00 price target on the stock in a report on Wednesday, January 17th. Susquehanna Bancshares cut shares of Snap from a neutral rating to a sell rating in a report on Thursday, February 8th. Finally, Raymond James restated an underperform rating on shares of Snap in a report on Friday, January 12th. Twelve research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $17.36.

SNAP stock opened at $15.20 on Thursday. Snap has a twelve month low of $11.28 and a twelve month high of $23.57. The firm has a market cap of $18,209.17 and a price-to-earnings ratio of -7.31.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 6th. The company reported ($0.27) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.06. Snap had a negative net margin of 417.61% and a negative return on equity of 100.64%. The business had revenue of $285.69 million for the quarter, compared to analysts’ expectations of $251.74 million. equities research analysts expect that Snap will post -1.17 EPS for the current fiscal year.

In related news, insider Imran Khan sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $20.04, for a total value of $5,010,000.00. Following the completion of the transaction, the insider now directly owns 9,755,173 shares of the company’s stock, valued at approximately $195,493,666.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mitchell Lasky sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $13.30, for a total transaction of $332,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,718,175 shares of company stock valued at $104,411,412.

A number of large investors have recently modified their holdings of SNAP. Bank of New York Mellon Corp increased its holdings in Snap by 573.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 246,721 shares of the company’s stock worth $3,588,000 after buying an additional 210,078 shares during the period. Ameriprise Financial Inc. increased its holdings in Snap by 932.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 161,693 shares of the company’s stock worth $2,351,000 after buying an additional 146,039 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in shares of Snap during the 3rd quarter worth approximately $7,845,000. Stifel Financial Corp grew its stake in shares of Snap by 119.9% during the 3rd quarter. Stifel Financial Corp now owns 87,684 shares of the company’s stock worth $1,267,000 after purchasing an additional 47,816 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Snap by 49.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 64,577 shares of the company’s stock worth $939,000 after purchasing an additional 21,262 shares during the period. Institutional investors own 18.56% of the company’s stock.

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About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows to creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.

Analyst Recommendations for Snap (NYSE:SNAP)

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