Snap (NYSE:SNAP) Given New $6.50 Price Target at Susquehanna

Snap (NYSE:SNAPGet Free Report) had its price target dropped by stock analysts at Susquehanna from $9.00 to $6.50 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Susquehanna’s price objective suggests a potential upside of 9.80% from the stock’s current price.

Several other analysts also recently commented on the stock. Rosenblatt Securities decreased their target price on shares of Snap from $9.50 to $6.40 and set a “neutral” rating for the company in a research report on Thursday. BMO Capital Markets increased their target price on shares of Snap from $12.00 to $13.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Bank of America upgraded Snap from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Thursday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Snap in a research note on Wednesday, January 21st. Finally, BNP Paribas Exane assumed coverage on Snap in a research note on Wednesday, January 14th. They issued a “strong sell” rating on the stock. Four analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Snap presently has an average rating of “Reduce” and a consensus target price of $9.32.

Check Out Our Latest Stock Report on SNAP

Snap Stock Performance

SNAP stock opened at $5.92 on Thursday. The firm has a 50 day simple moving average of $7.68 and a 200 day simple moving average of $7.89. The stock has a market cap of $10.18 billion, a P/E ratio of -20.41 and a beta of 0.83. Snap has a 52 week low of $5.86 and a 52 week high of $11.57. The company has a debt-to-equity ratio of 1.57, a quick ratio of 3.67 and a current ratio of 3.67.

Snap (NYSE:SNAPGet Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.12). The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Snap had a negative net margin of 8.60% and a negative return on equity of 21.61%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.01 earnings per share. Research analysts anticipate that Snap will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ajit Mohan sold 20,848 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $7.62, for a total value of $158,861.76. Following the completion of the sale, the insider directly owned 5,277,816 shares of the company’s stock, valued at approximately $40,216,957.92. This represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Rebecca Morrow sold 3,783 shares of the stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $7.34, for a total transaction of $27,767.22. Following the completion of the sale, the chief accounting officer directly owned 483,181 shares of the company’s stock, valued at approximately $3,546,548.54. This trade represents a 0.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,393,341 shares of company stock worth $11,169,210 in the last 90 days. 22.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Empowered Funds LLC grew its position in Snap by 13.3% during the first quarter. Empowered Funds LLC now owns 40,393 shares of the company’s stock worth $352,000 after buying an additional 4,754 shares in the last quarter. KLP Kapitalforvaltning AS grew its holdings in shares of Snap by 1.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 471,300 shares of the company’s stock worth $4,096,000 after purchasing an additional 6,900 shares in the last quarter. Coordinated Financial Services Inc. bought a new stake in shares of Snap during the second quarter valued at approximately $109,000. Blue Trust Inc. increased its position in shares of Snap by 61.5% during the second quarter. Blue Trust Inc. now owns 6,633 shares of the company’s stock valued at $58,000 after purchasing an additional 2,525 shares during the period. Finally, Zullo Investment Group Inc. raised its stake in shares of Snap by 12.8% in the second quarter. Zullo Investment Group Inc. now owns 12,040 shares of the company’s stock valued at $105,000 after purchasing an additional 1,365 shares in the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

Snap News Roundup

Here are the key news stories impacting Snap this week:

About Snap

(Get Free Report)

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.

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