Snap (NYSE:SNAP) PT Raised to $17.00 at Barclays

Snap (NYSE:SNAP) had its price objective raised by equities researchers at Barclays from $15.00 to $17.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 22.48% from the stock’s previous close.

SNAP has been the topic of several other reports. Morgan Stanley reduced their price target on Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday, February 7th. Stifel Nicolaus decreased their price objective on Snap from $14.00 to $12.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. Susquehanna lifted their price target on Snap from $9.50 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Roth Mkm restated a “neutral” rating and set a $14.00 price objective on shares of Snap in a report on Tuesday. Finally, Royal Bank of Canada dropped their price target on Snap from $17.00 to $13.00 and set a “sector perform” rating for the company in a report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Snap has a consensus rating of “Hold” and a consensus target price of $14.09.

Snap Stock Up 21.8 %

SNAP stock traded up $2.48 during midday trading on Friday, hitting $13.88. 51,443,823 shares of the company’s stock were exchanged, compared to its average volume of 30,380,549. The stock has a market capitalization of $22.91 billion, a price-to-earnings ratio of -16.90 and a beta of 1.13. The firm has a 50 day moving average price of $11.19 and a 200-day moving average price of $12.79. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. Snap has a 12-month low of $7.86 and a 12-month high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.12 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. On average, analysts anticipate that Snap will post -0.58 EPS for the current year.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the sale, the general counsel now owns 474,812 shares in the company, valued at $5,474,582.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snap news, SVP Eric Young sold 120,472 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.13, for a total value of $1,340,853.36. Following the transaction, the senior vice president now owns 3,540,852 shares of the company’s stock, valued at $39,409,682.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the transaction, the general counsel now directly owns 474,812 shares in the company, valued at approximately $5,474,582.36. The disclosure for this sale can be found here. Insiders sold 470,482 shares of company stock worth $5,284,091 in the last quarter. 22.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. grew its position 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 worth $25,000 after purchasing an additional 1,445 shares in the last quarter. Allworth Financial LP grew its position in shares of Snap by 161.6% during the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Snap during the fourth quarter worth about $51,000. Rakuten Securities Inc. purchased a new position in Snap during the 4th quarter valued at approximately $73,000. Finally, Westpac Banking Corp grew its holdings in Snap by 108.7% during the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock valued at $81,000 after buying an additional 2,506 shares in the last quarter. 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.