Brokerages Set Snap Inc. (NYSE:SNAP) PT at $75.98

Shares of Snap Inc. (NYSE:SNAP) have earned a consensus rating of “Buy” from the forty research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and thirty-one have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $75.98.

SNAP has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Snap from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Monday, July 26th. TheStreet upgraded shares of Snap from a “d” rating to a “c-” rating in a research report on Thursday, July 22nd. Susquehanna raised their price objective on shares of Snap from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, July 23rd. KeyCorp raised their price objective on shares of Snap from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Friday, July 23rd. Finally, JMP Securities raised their price objective on shares of Snap from $89.00 to $94.00 and gave the company an “outperform” rating in a research report on Friday, July 23rd.

In other news, CAO Rebecca Morrow sold 8,774 shares of the business’s stock in a transaction on Friday, July 16th. The shares were sold at an average price of $58.70, for a total transaction of $515,033.80. Following the completion of the sale, the chief accounting officer now directly owns 252,822 shares of the company’s stock, valued at approximately $14,840,651.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Evan Spiegel sold 369,960 shares of the business’s stock in a transaction on Friday, June 25th. The shares were sold at an average price of $67.58, for a total transaction of $25,001,896.80. Following the sale, the chief executive officer now directly owns 42,798,252 shares of the company’s stock, valued at $2,892,305,870.16. The disclosure for this sale can be found here. Insiders sold a total of 4,391,197 shares of company stock valued at $325,418,969 over the last quarter.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Anfield Capital Management LLC purchased a new stake in Snap during the 2nd quarter worth $27,000. Howe & Rusling Inc. purchased a new stake in Snap during the 1st quarter worth $29,000. Glassman Wealth Services boosted its position in Snap by 527.9% during the 2nd quarter. Glassman Wealth Services now owns 427 shares of the company’s stock worth $29,000 after purchasing an additional 359 shares during the period. Samalin Investment Counsel LLC purchased a new stake in Snap during the 2nd quarter worth $31,000. Finally, First Manhattan Co. boosted its position in Snap by 66.7% during the 1st quarter. First Manhattan Co. now owns 625 shares of the company’s stock worth $32,000 after purchasing an additional 250 shares during the period. 52.55% of the stock is owned by institutional investors.

Shares of NYSE SNAP traded up $0.86 during midday trading on Friday, reaching $76.95. 382,933 shares of the company were exchanged, compared to its average volume of 20,088,764. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.88. Snap has a 1 year low of $24.02 and a 1 year high of $80.85. The stock has a fifty day simple moving average of $72.62 and a 200 day simple moving average of $64.34. The stock has a market cap of $121.67 billion, a P/E ratio of -147.57 and a beta of 1.27.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, July 22nd. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.28. The firm had revenue of $982.11 million for the quarter, compared to analyst estimates of $846.57 million. Snap had a negative return on equity of 32.45% and a negative net margin of 22.49%. The business’s revenue was up 116.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.09) earnings per share. As a group, analysts forecast that Snap will post -0.4 earnings per share for the current year.

Snap Company Profile

Snap, Inc engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application.

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Analyst Recommendations for Snap (NYSE:SNAP)

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