Snap (NYSE:SNAP) Price Target Raised to $15.00 at Evercore ISI

Snap (NYSE:SNAPFree Report) had its price objective boosted by Evercore ISI from $12.00 to $15.00 in a research note issued to investors on Wednesday, Benzinga reports. Evercore ISI currently has an in-line rating on the stock.

SNAP has been the subject of a number of other research reports. Barclays decreased their price objective on shares of Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group decreased their price objective on shares of Snap from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Morgan Stanley raised shares of Snap from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $12.00 to $16.00 in a research report on Tuesday, July 23rd. Wells Fargo & Company decreased their price objective on shares of Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Finally, JMP Securities upgraded shares of Snap from a “market perform” rating to an “outperform” rating and set a $17.00 target price for the company in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Snap currently has an average rating of “Hold” and an average price target of $14.25.

View Our Latest Stock Report on Snap

Snap Stock Up 15.7 %

Snap stock opened at $12.60 on Wednesday. The company has a market cap of $20.68 billion, a P/E ratio of -15.56 and a beta of 1.01. Snap has a 1-year low of $8.29 and a 1-year high of $17.90. The company has a fifty day simple moving average of $9.99 and a 200 day simple moving average of $12.69. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74.

Snap (NYSE:SNAPGet Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. Research analysts anticipate that Snap will post -0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the sale, the general counsel now directly owns 489,058 shares of the company’s stock, valued at $5,286,716.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, SVP Eric Young sold 114,097 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $9.11, for a total value of $1,039,423.67. Following the transaction, the senior vice president now owns 3,041,723 shares in the company, valued at approximately $27,710,096.53. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $10.81, for a total transaction of $194,580.00. Following the completion of the transaction, the general counsel now owns 489,058 shares in the company, valued at $5,286,716.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,490,617 shares of company stock valued at $13,183,890 in the last ninety days. 22.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SNAP. Marshall Wace LLP lifted its position in shares of Snap by 587.3% during the 2nd quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock valued at $243,629,000 after acquiring an additional 12,533,653 shares during the period. TB Alternative Assets Ltd. lifted its position in shares of Snap by 105.6% during the 3rd quarter. TB Alternative Assets Ltd. now owns 7,981,847 shares of the company’s stock valued at $85,406,000 after acquiring an additional 4,098,847 shares during the period. Discovery Capital Management LLC CT acquired a new position in shares of Snap during the 2nd quarter valued at $22,591,000. Assenagon Asset Management S.A. lifted its position in shares of Snap by 74.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 2,824,354 shares of the company’s stock valued at $46,913,000 after acquiring an additional 1,201,565 shares during the period. Finally, Curated Wealth Partners LLC lifted its position in shares of Snap by 200.0% during the 2nd quarter. Curated Wealth Partners LLC now owns 536,541 shares of the company’s stock valued at $8,912,000 after acquiring an additional 1,073,082 shares during the period. Institutional investors and hedge funds own 47.52% of the company’s stock.

About Snap

(Get Free Report)

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.

Featured Articles

Analyst Recommendations for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.