Snap (NYSE:SNAP – Get Free Report) had its price objective hoisted by research analysts at Truist Financial from $11.00 to $12.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential upside of 5.17% from the stock’s current price.
A number of other equities research analysts also recently weighed in on SNAP. Wells Fargo & Company dropped their price target on shares of Snap from $22.00 to $16.00 and set an “overweight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Snap from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Wednesday, October 25th. Guggenheim upgraded shares of Snap from a “neutral” rating to a “buy” rating and lifted their price target for the company from $9.00 to $23.00 in a research report on Monday, December 18th. Royal Bank of Canada dropped their price target on shares of Snap from $17.00 to $13.00 and set a “sector perform” rating for the company in a research report on Wednesday. Finally, Jefferies Financial Group upgraded shares of Snap from a “hold” rating to a “buy” rating and lifted their price target for the company from $12.00 to $16.00 in a research report on Thursday, November 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Snap presently has a consensus rating of “Hold” and an average target price of $13.46.
Read Our Latest Research Report on SNAP
Snap Stock Performance
Shares of NYSE:SNAP traded down $6.04 during trading on Wednesday, reaching $11.41. 184,560,815 shares of the stock were exchanged, compared to its average volume of 32,239,076. Snap has a 12 month low of $7.86 and a 12 month high of $17.90. The firm has a market cap of $18.79 billion, a PE ratio of -13.27 and a beta of 1.28. The stock has a 50-day moving average price of $16.22 and a 200-day moving average price of $12.24. The company has a current ratio of 4.83, a quick ratio of 4.83 and a debt-to-equity ratio of 1.50.
Insiders Place Their Bets
In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Eric Young sold 119,112 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $11.90, for a total value of $1,417,432.80. Following the sale, the senior vice president now owns 3,391,040 shares of the company’s stock, valued at $40,353,376. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction on 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 directly owns 461,005 shares in the company, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 276,589 shares of company stock valued at $3,796,543.
Institutional Trading of Snap
Several institutional investors have recently modified their holdings of SNAP. Gryphon Financial Partners LLC purchased a new stake in Snap in the 4th quarter valued at about $204,000. Charles Schwab Investment Management Inc. grew its position in shares of Snap by 7.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,444,341 shares of the company’s stock valued at $58,313,000 after acquiring an additional 230,815 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Snap by 10.1% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 327,691 shares of the company’s stock valued at $5,548,000 after acquiring an additional 30,166 shares during the period. Spire Wealth Management grew its position in shares of Snap by 17.1% during the 4th quarter. Spire Wealth Management now owns 10,257 shares of the company’s stock valued at $168,000 after acquiring an additional 1,500 shares during the period. Finally, U.S. Capital Wealth Advisors LLC grew its position in shares of Snap by 3.3% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock valued at $533,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 44.37% 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.
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