Susquehanna Has Lowered Expectations for Snap (NYSE:SNAP) Stock Price

Snap (NYSE:SNAPGet Free Report) had its target price dropped by research analysts at Susquehanna from $9.00 to $6.50 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price objective points to a potential upside of 9.80% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. Cantor Fitzgerald lifted their price target on Snap from $7.00 to $9.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Arete Research upgraded shares of Snap from a “sell” rating to a “neutral” rating in a research note on Tuesday, November 18th. Citigroup upped their price objective on shares of Snap from $8.50 to $10.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Morgan Stanley raised their target price on shares of Snap from $8.50 to $9.50 and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. Finally, Piper Sandler set a $8.00 price target on shares of Snap in a research report on Thursday. Four investment analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $9.32.

Check Out Our Latest Stock Analysis on SNAP

Snap Trading Down 3.0%

NYSE:SNAP opened at $5.92 on Thursday. Snap has a 12-month low of $5.86 and a 12-month high of $11.57. The firm has a market capitalization of $10.18 billion, a P/E ratio of -20.41 and a beta of 0.83. The company has a debt-to-equity ratio of 1.57, a current ratio of 3.67 and a quick ratio of 3.67. The business has a 50 day simple moving average of $7.68 and a 200 day simple moving average of $7.89.

Snap (NYSE:SNAPGet Free Report) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.12). The firm had revenue of $1.72 billion during the quarter, compared to analyst estimates of $1.70 billion. Snap had a negative return on equity of 21.61% and a negative net margin of 8.60%.The firm’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $0.01 EPS. Equities research analysts predict that Snap will post -0.3 EPS for the current year.

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 3,783 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $7.34, for a total value of $27,767.22. Following the transaction, the chief accounting officer owned 483,181 shares of the company’s stock, valued at approximately $3,546,548.54. This represents a 0.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ajit Mohan sold 20,848 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $7.62, for a total value of $158,861.76. Following the sale, the insider directly owned 5,277,816 shares of the company’s stock, valued at approximately $40,216,957.92. This represents a 0.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,393,341 shares of company stock valued at $11,169,210 in the last ninety days. Company insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

A number of hedge funds have recently bought and sold shares of SNAP. Empowered Funds LLC increased its position in shares of Snap by 13.3% in the first quarter. Empowered Funds LLC now owns 40,393 shares of the company’s stock worth $352,000 after acquiring an additional 4,754 shares in the last quarter. KLP Kapitalforvaltning AS lifted its position in shares of Snap by 1.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 471,300 shares of the company’s stock valued at $4,096,000 after acquiring an additional 6,900 shares in the last quarter. Coordinated Financial Services Inc. purchased a new position in Snap during the 2nd quarter worth approximately $109,000. Blue Trust Inc. raised its stake in Snap by 61.5% during the 2nd quarter. Blue Trust Inc. now owns 6,633 shares of the company’s stock valued at $58,000 after purchasing an additional 2,525 shares during the period. Finally, Zullo Investment Group Inc. boosted its position in shares of Snap by 12.8% in the second quarter. Zullo Investment Group Inc. now owns 12,040 shares of the company’s stock worth $105,000 after buying an additional 1,365 shares during the period. 47.52% of the stock is owned by hedge funds and other institutional investors.

Key Snap News

Here are the key news stories impacting Snap this week:

Snap Company Profile

(Get Free Report)

Snap Inc is a camera and social media company best known for developing and operating Snapchat, a multimedia messaging application that allows users to send photos, videos and messages that disappear after being viewed. In addition to its core messaging service, Snap offers a suite of augmented reality (AR) tools, including custom Lenses and Filters, that enable users and third-party developers to create interactive and immersive experiences. The company also provides advertising solutions that allow brands to engage audiences through Snap Ads, Sponsored Lenses and Discover content on the platform.

Founded in 2011 by Evan Spiegel and Bobby Murphy, Snap has continually focused on innovation in camera technology and AR.

Featured Articles

Analyst Recommendations for Snap (NYSE:SNAP)

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.