Snap (NYSE:SNAP) Price Target Raised to $9.00 at Cantor Fitzgerald

Snap (NYSE:SNAP) had its price objective increased by Cantor Fitzgerald from $8.00 to $9.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $14.00 price objective on shares of Snap in a report on Wednesday, September 18th. Evercore ISI upped their price objective on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a report on Wednesday. Benchmark reiterated a “hold” rating on shares of Snap in a research report on Friday, October 25th. Citigroup dropped their target price on Snap from $16.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Finally, JMP Securities upgraded shares of Snap from a “market perform” rating to an “outperform” rating and set a $17.00 price target on the stock in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $14.25.

Snap Stock Performance

Shares of SNAP opened at $12.60 on Wednesday. Snap has a 12-month low of $8.29 and a 12-month high of $17.90. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The company has a market cap of $20.68 billion, a PE ratio of -15.56 and a beta of 1.01. The stock has a 50-day moving average price of $9.99 and a 200-day moving average price of $12.69.

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

Insider Activity

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now owns 58,553,813 shares in the company, valued at $508,832,634.97. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Evan Spiegel sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.85, for a total transaction of $1,327,500.00. Following the sale, the chief executive officer now owns 3,327,844 shares in the company, valued at approximately $29,451,419.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the completion of the sale, the chief technology officer now directly owns 58,553,813 shares in the company, valued at $508,832,634.97. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,490,617 shares of company stock valued at $13,183,890. Corporate insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Snap during the third quarter valued at approximately $29,000. Paladin Wealth LLC bought a new stake in shares of Snap in the 3rd quarter worth approximately $30,000. Hollencrest Capital Management purchased a new stake in shares of Snap in the 2nd quarter worth approximately $33,000. Blue Trust Inc. increased its position in Snap by 354.1% during the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in Snap during the second quarter valued at $40,000. Institutional investors own 47.52% of the company’s stock.

Snap Company Profile

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.