Wells Fargo & Company Increases Snap (NYSE:SNAP) Price Target to $10.00

Snap (NYSE:SNAP) had its price target upped by research analysts at Wells Fargo & Company from $8.00 to $10.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 24.36% from the company’s current price.

Several other research firms also recently commented on SNAP. Zacks Research downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 20th. UBS Group decreased their target price on shares of Snap from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Truist Financial decreased their target price on shares of Snap from $11.00 to $10.00 and set a “hold” rating for the company in a research report on Wednesday, August 6th. New Street Research cut shares of Snap from a “buy” rating to a “neutral” rating in a report on Tuesday, October 28th. Finally, Mizuho began coverage on shares of Snap in a report on Monday, September 29th. They set a “neutral” rating and a $9.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Snap presently has a consensus rating of “Hold” and an average target price of $34.84.

Snap Stock Up 10.2%

Shares of NYSE:SNAP traded up $0.74 during midday trading on Thursday, hitting $8.04. 72,843,083 shares of the company’s stock were exchanged, compared to its average volume of 52,488,488. The company has a debt-to-equity ratio of 1.73, a current ratio of 3.88 and a quick ratio of 3.88. The stock has a 50 day moving average price of $7.80 and a 200-day moving average price of $8.25. The company has a market cap of $13.59 billion, a PE ratio of -25.28 and a beta of 0.89. Snap has a 12 month low of $6.90 and a 12 month high of $13.28.

Snap (NYSE:SNAP) last posted its earnings results on Wednesday, November 5th. The company reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.12). The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.49 billion. Snap had a negative return on equity of 23.32% and a negative net margin of 9.69%.The company’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.09) earnings per share. Snap has set its Q4 2025 guidance at EPS. On average, sell-side analysts anticipate that Snap will post -0.3 EPS for the current fiscal year.

Insider Activity

In related news, CFO Derek Andersen sold 33,871 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $7.56, for a total transaction of $256,064.76. Following the sale, the chief financial officer owned 3,109,581 shares of the company’s stock, valued at $23,508,432.36. This trade represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizabeth Jenkins sold 7,900 shares of the firm’s stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $7.07, for a total value of $55,853.00. Following the completion of the sale, the director directly owned 65,663 shares in the company, valued at approximately $464,237.41. The trade was a 10.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 510,569 shares of company stock valued at $3,741,723 over the last three months. 22.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snap

Institutional investors have recently made changes to their positions in the company. Compagnie Lombard Odier SCmA boosted its position in Snap by 1.1% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 230,409 shares of the company’s stock valued at $1,776,000 after purchasing an additional 2,499 shares during the period. Wealthfront Advisers LLC lifted its holdings in shares of Snap by 13.5% in the third quarter. Wealthfront Advisers LLC now owns 103,704 shares of the company’s stock valued at $800,000 after buying an additional 12,367 shares during the period. Prospera Financial Services Inc lifted its holdings in shares of Snap by 19.0% in the third quarter. Prospera Financial Services Inc now owns 13,958 shares of the company’s stock valued at $108,000 after buying an additional 2,225 shares during the period. SBI Securities Co. Ltd. lifted its holdings in shares of Snap by 11.0% in the third quarter. SBI Securities Co. Ltd. now owns 34,188 shares of the company’s stock valued at $264,000 after buying an additional 3,383 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in shares of Snap by 30.1% during the third quarter. Envestnet Asset Management Inc. now owns 35,860 shares of the company’s stock worth $276,000 after purchasing an additional 8,294 shares during the period. 47.52% of the stock is currently 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.