Snap (NYSE:SNAP) Price Target Raised to $18.00 at Wells Fargo & Company

Snap (NYSE:SNAP) had its price target hoisted by Wells Fargo & Company from $16.00 to $18.00 in a research report released on Friday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Other equities analysts also recently issued research reports about the stock. Canaccord Genuity Group lifted their price target on shares of Snap from $14.00 to $15.00 and gave the company a hold rating in a report on Friday. HSBC raised shares of Snap from a reduce rating to a buy rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised shares of Snap from a hold rating to a buy rating and lifted their price target for the company from $10.00 to $19.00 in a report on Friday, January 26th. BMO Capital Markets lowered their price target on shares of Snap from $22.00 to $20.00 and set an outperform rating on the stock in a report on Wednesday, February 7th. Finally, UBS Group lowered their price target on shares of Snap from $14.00 to $13.00 and set a neutral rating on the stock in a report on Tuesday, April 16th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap presently has a consensus rating of Hold and an average target price of $14.67.

Snap Stock Performance

SNAP opened at $14.53 on Friday. The company has a current ratio of 4.39, a quick ratio of 4.39 and a debt-to-equity ratio of 1.55. The company has a market cap of $23.98 billion, a price-to-earnings ratio of -17.94 and a beta of 1.13. The company’s 50 day moving average is $11.26 and its 200 day moving average is $12.84. Snap has a 12-month low of $7.86 and a 12-month high of $17.90.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.12 billion. Snap had a negative net margin of 26.99% and a negative return on equity of 45.02%. On average, equities research analysts predict that Snap will post -0.58 EPS for the current year.

Insider Buying and Selling at Snap

In other Snap news, SVP Eric Young sold 120,472 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the transaction, the senior vice president now owns 3,540,852 shares in the company, valued at $39,409,682.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction 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 directly owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Eric Young sold 120,472 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the sale, the senior vice president now directly owns 3,540,852 shares of the company’s stock, valued at $39,409,682.76. The disclosure for this sale can be found here. Insiders have sold 470,482 shares of company stock worth $5,284,091 over the last quarter. Insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Large investors have recently made changes to their positions in the stock. NBC Securities Inc. boosted its stake in shares of Snap by 2,580.4% during the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock valued at $25,000 after purchasing an additional 1,445 shares during the period. Allworth Financial LP lifted its stake in Snap by 161.6% in the fourth quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after acquiring an additional 1,708 shares during the period. ICA Group Wealth Management LLC purchased a new stake in Snap in the fourth quarter worth about $51,000. Rakuten Securities Inc. purchased a new stake in Snap in the fourth quarter worth about $73,000. Finally, Westpac Banking Corp lifted its stake in Snap by 108.7% in the fourth quarter. Westpac Banking Corp now owns 4,812 shares of the company’s stock worth $81,000 after acquiring an additional 2,506 shares during the period. 47.52% of the stock is owned by hedge funds and other institutional investors.

About Snap

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.