Snap’s (SNAP) “Outperform” Rating Reaffirmed at Raymond James

Snap (NYSE:SNAP)‘s stock had its “outperform” rating restated by investment analysts at Raymond James in a note issued to investors on Friday, Benzinga reports. They presently have a $16.00 target price on the stock, up from their prior target price of $15.00. Raymond James’ price objective would suggest a potential upside of 9.59% from the stock’s previous close.

Several other analysts also recently commented on SNAP. Stifel Nicolaus increased their price objective on Snap from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Friday. Evercore ISI increased their price objective on Snap from $13.00 to $14.00 and gave the stock an “in-line” rating in a research note on Friday. Roth Mkm reaffirmed a “neutral” rating and set a $14.00 price target on shares of Snap in a research report on Tuesday. Deutsche Bank Aktiengesellschaft raised Snap from a “hold” rating to a “buy” rating and increased their price target for the company from $10.00 to $19.00 in a research report on Friday, January 26th. Finally, Morgan Stanley increased their price target on Snap from $11.00 to $12.00 and gave the company an “underweight” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Snap has a consensus rating of “Hold” and an average price target of $14.67.

Snap Trading Up 28.1 %

Shares of Snap stock traded up $3.20 on Friday, hitting $14.60. 109,326,296 shares of the company’s stock traded hands, compared to its average volume of 31,199,594. Snap has a one year low of $7.86 and a one year high of $17.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The company has a fifty day moving average of $11.19 and a two-hundred day moving average of $12.79. The company has a market capitalization of $24.10 billion, a price-to-earnings ratio of -17.55 and a beta of 1.13.

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

Insider Activity

In related news, CAO Rebecca Morrow sold 9,386 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.14, for a total transaction of $104,560.04. Following the transaction, the chief accounting officer now owns 495,526 shares in the company, valued at approximately $5,520,159.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the sale, the chief accounting officer now directly owns 495,526 shares of the company’s stock, valued at approximately $5,520,159.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 470,482 shares of company stock valued at $5,284,091. Insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

A number of hedge funds have recently made changes to their positions in SNAP. NBC Securities Inc. boosted its position in shares of Snap by 2,580.4% in the 4th 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 boosted its position in shares of Snap by 161.6% in the 4th 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 bought a new stake in shares of Snap in the 4th quarter worth approximately $51,000. Rakuten Securities Inc. bought a new stake in shares of Snap in the 4th quarter worth approximately $73,000. Finally, Westpac Banking Corp raised its holdings in Snap by 108.7% in the 4th quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after acquiring an additional 2,506 shares during the last quarter. 47.52% of the stock is owned by institutional investors.

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.