Snap (NYSE:SNAP) Stock Gets Price Target Cut from JPMorgan Chase & Co.

Snap (NYSE:SNAP) had its price objective lowered by JPMorgan Chase & Co. from $6.00 to $5.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 1.44% from the stock’s current price.

Other research analysts also recently issued reports about the company. Citigroup boosted their price target on Snap from $6.50 to $6.75 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Truist Financial dropped their price objective on shares of Snap from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday, August 4th. Mizuho lifted their target price on shares of Snap from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Rosenblatt Securities decreased their target price on shares of Snap from $6.40 to $6.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Snap in a research note on Thursday, October 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, twenty-two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $7.36.

Snap Stock Performance

Shares of SNAP stock traded down $0.85 on Thursday, hitting $5.07. The company had a trading volume of 81,385,602 shares, compared to its average volume of 45,608,992. The firm has a market cap of $8.58 billion, a P/E ratio of -28.18 and a beta of 1.23. The company has a 50-day moving average price of $5.76 and a 200-day moving average price of $5.42. The company has a quick ratio of 2.94, a current ratio of 2.94 and a debt-to-equity ratio of 1.75. Snap has a twelve month low of $3.81 and a twelve month high of $9.13.

Snap (NYSE:SNAP) last issued its earnings results on Thursday, November 5th. The company reported $0.03 EPS for the quarter. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.73 billion. Snap had a negative return on equity of 14.61% and a negative net margin of 4.90%. The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share. As a group, equities research analysts predict that Snap will post -0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snap news, CAO Rebecca Morrow sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $5.35, for a total value of $107,000.00. Following the sale, the chief accounting officer directly owned 578,105 shares of the company’s stock, valued at approximately $3,092,861.75. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ajit Mohan sold 54,608 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $5.20, for a total value of $283,961.60. Following the completion of the sale, the insider owned 4,972,097 shares of the company’s stock, valued at $25,854,904.40. This trade represents a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 445,926 shares of company stock worth $2,326,930. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

A number of institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its holdings in Snap by 68.9% in the 3rd quarter. Signaturefd LLC now owns 5,211 shares of the company’s stock worth $28,000 after acquiring an additional 2,126 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Snap by 6,678.0% during the first quarter. Fifth Third Bancorp now owns 6,778 shares of the company’s stock valued at $31,000 after purchasing an additional 6,678 shares in the last quarter. NFSG Corp lifted its holdings in Snap by 52.7% during the first quarter. NFSG Corp now owns 8,400 shares of the company’s stock valued at $39,000 after purchasing an additional 2,900 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Snap by 135.6% during the first quarter. EverSource Wealth Advisors LLC now owns 8,525 shares of the company’s stock valued at $39,000 after purchasing an additional 4,907 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new stake in shares of Snap in the second quarter valued at about $47,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

Key Stories Impacting Snap

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Snapchat+ subscriptions reached 30 million, up 5 million since February, adding to the company’s potential to grow revenue beyond advertising. Snapchat surpasses 30M paid subscribers
• Positive Sentiment: The company returned to net profitability, and adjusted earnings exceeded expectations in some reports, although earnings measures differed across coverage. Snap earnings and user growth report
• Neutral Sentiment: Snap forecast fourth-quarter revenue of $1.95 billion to $1.99 billion; the outlook may provide a near-term benchmark, but the supplied reports do not establish how it compares with consensus. Snap shares fall over 10% on third-quarter earnings miss
• Neutral Sentiment: Barclays cut its price target from $16 to $8 but maintained an Overweight rating, while Cantor Fitzgerald lowered its target from $6 to $5 and kept a Neutral rating—signaling sharply reduced expectations but mixed analyst views. Barclays recommendations Cantor Fitzgerald recommendations
• Negative Sentiment: Third-quarter revenue rose 14% year over year to $1.72 billion but fell short of the $1.73 billion consensus. Daily active users also missed expectations, and reports cited sluggish ad sales, intensifying concerns about Snap’s core advertising recovery. Revenue and daily users miss estimates

Snap Company Profile

Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, messages and Stories, while offering creative tools such as augmented reality (AR) Lenses and filters. The platform also includes features such as Snap Map, Spotlight and content from publishers and creators.

Snap generates most of its revenue from digital advertising, including video, augmented reality and other advertising formats delivered across Snapchat.