Credit Suisse Group Increases Snap (NYSE:SNAP) Price Target to $39.00
Snap (NYSE:SNAP) had its price objective boosted by equities research analysts at Credit Suisse Group from $32.00 to $39.00 in a research report issued on Friday, AR Network reports. The firm currently has an “outperform” rating on the stock. Credit Suisse Group’s price target would suggest a potential upside of 10.48% from the stock’s previous close.
Other research analysts also recently issued reports about the company. KeyCorp started coverage on Snap in a research note on Monday, September 14th. They issued an “overweight” rating and a $29.00 price target for the company. Canaccord Genuity increased their target price on Snap from $15.00 to $25.00 and gave the company a “hold” rating in a research report on Wednesday, July 1st. Bank of America reiterated a “buy” rating and set a $28.50 target price on shares of Snap in a research report on Wednesday, July 15th. Oppenheimer increased their target price on Snap from $18.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, July 22nd. Finally, Needham & Company LLC began coverage on Snap in a research report on Wednesday, July 22nd. They set a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.78.
Shares of NYSE:SNAP opened at $35.30 on Friday. Snap has a 12-month low of $7.89 and a 12-month high of $29.08. The company has a current ratio of 5.99, a quick ratio of 5.99 and a debt-to-equity ratio of 0.87. The company has a market cap of $41.80 billion, a PE ratio of -44.84 and a beta of 1.64. The stock has a 50 day moving average of $25.22 and a 200 day moving average of $21.09.
In other Snap news, insider Jeremi Gorman sold 15,924 shares of the stock in a transaction on Monday, October 19th. The stock was sold at an average price of $28.30, for a total value of $450,649.20. Following the sale, the insider now owns 2,169,331 shares in the company, valued at $61,392,067.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Jerry James Hunter sold 149,791 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $21.52, for a total value of $3,223,502.32. Following the completion of the sale, the vice president now owns 2,450,354 shares in the company, valued at approximately $52,731,618.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,807,756 shares of company stock worth $108,726,157.
Several institutional investors and hedge funds have recently bought and sold shares of SNAP. Cullen Frost Bankers Inc. grew its position in shares of Snap by 266.7% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,100 shares of the company’s stock worth $26,000 after buying an additional 800 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new position in shares of Snap during the 3rd quarter worth $26,000. Jackson Square Capital LLC bought a new position in shares of Snap during the 2nd quarter worth $35,000. Truewealth LLC grew its position in shares of Snap by 70.1% during the 2nd quarter. Truewealth LLC now owns 1,789 shares of the company’s stock worth $42,000 after buying an additional 737 shares in the last quarter. Finally, M&R Capital Management Inc. grew its position in shares of Snap by 160.0% during the 3rd quarter. M&R Capital Management Inc. now owns 1,625 shares of the company’s stock worth $42,000 after buying an additional 1,000 shares in the last quarter. 47.00% of the stock is currently owned by institutional investors and hedge funds.
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images called Snaps. It also provides Camera, a tool to personalize and add context to Snaps; Chat that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community based on a user's subscriptions and interests.
Further Reading: Economic Bubble
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.