Snap (NYSE:SNAP) PT Raised to $16.00 at The Goldman Sachs Group

Snap (NYSE:SNAP) had its price target hoisted by research analysts at The Goldman Sachs Group from $13.50 to $16.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 7.53% from the company’s current price.

A number of other analysts also recently weighed in on SNAP. Truist Financial increased their price objective on Snap from $12.00 to $16.00 and gave the company a “hold” rating in a report on Friday. BMO Capital Markets decreased their price target on Snap from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, February 7th. Piper Sandler increased their price objective on shares of Snap from $12.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 17th. Roth Mkm reissued a “neutral” rating and set a $14.00 price objective on shares of Snap in a research report on Tuesday. Finally, Barclays increased their price objective on shares of Snap from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Snap has an average rating of “Hold” and an average target price of $14.56.

Snap Price Performance

Shares of SNAP traded up $3.48 during trading hours on Friday, reaching $14.88. The stock had a trading volume of 98,003,842 shares, compared to its average volume of 31,036,756. Snap has a 12 month low of $7.86 and a 12 month high of $17.90. The stock has a market capitalization of $24.56 billion, a PE ratio of -17.93 and a beta of 1.13. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The company’s 50-day moving average is $11.19 and its two-hundred day moving average is $12.79.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The business had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. Research analysts expect that Snap will post -0.58 EPS for the current year.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of Snap stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the transaction, the general counsel now owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the sale, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Evan Spiegel sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the sale, the chief executive officer now owns 3,627,844 shares of the company’s stock, valued at approximately $40,305,346.84. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock valued at $5,284,091 in the last 90 days. 22.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Sowell Financial Services LLC grew its stake in Snap by 3.3% in the 4th quarter. Sowell Financial Services LLC now owns 23,139 shares of the company’s stock valued at $392,000 after buying an additional 729 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Snap by 2.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 41,245 shares of the company’s stock valued at $698,000 after buying an additional 891 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in Snap by 3.3% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 31,499 shares of the company’s stock valued at $533,000 after buying an additional 1,000 shares in the last quarter. Impax Asset Management Group plc grew its stake in Snap by 4.5% in the 3rd quarter. Impax Asset Management Group plc now owns 23,434 shares of the company’s stock valued at $209,000 after buying an additional 1,017 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Snap by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 15,373 shares of the company’s stock valued at $137,000 after purchasing an additional 1,025 shares in the last quarter. 47.52% of the stock is currently owned by hedge funds and other institutional investors.

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.