Snap (NYSE:SNAP - Get Free Report) was downgraded by Wells Fargo & Company from an "overweight" rating to an "equal weight" rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. They presently have a $11.00 price target on the stock, down from their prior price target of $15.00. Wells Fargo & Company's price target suggests a potential downside of 5.21% from the company's previous close.
A number of other brokerages have also weighed in on SNAP. Bank of America upped their price target on shares of Snap from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a "buy" rating and set a $640.00 target price on shares of Snap in a research note on Thursday, December 5th. Truist Financial increased their target price on shares of Snap from $13.00 to $14.00 and gave the company a "hold" rating in a research note on Wednesday, October 30th. Evercore ISI increased their target price on shares of Snap from $12.00 to $15.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald increased their target price on shares of Snap from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat, Snap presently has an average rating of "Hold" and an average target price of $36.84.
Read Our Latest Stock Analysis on Snap
NYSE SNAP opened at $11.61 on Wednesday. Snap has a 52 week low of $8.29 and a 52 week high of $17.50. The company has a current ratio of 4.04, a quick ratio of 4.04 and a debt-to-equity ratio of 1.63. The stock has a market cap of $19.46 billion, a price-to-earnings ratio of -20.01 and a beta of 0.99. The company has a 50-day moving average price of $11.52 and a two-hundred day moving average price of $10.89.
Snap (NYSE:SNAP - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.13). Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. Analysts forecast that Snap will post -0.39 EPS for the current year.
In other news, SVP Eric Young sold 112,020 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the transaction, the senior vice president now directly owns 2,791,048 shares of the company's stock, valued at approximately $29,445,556.40. This trade represents a 3.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Derek Andersen sold 94,164 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $11.44, for a total transaction of $1,077,236.16. Following the transaction, the chief financial officer now directly owns 2,193,806 shares of the company's stock, valued at $25,097,140.64. The trade was a 4.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 445,184 shares of company stock valued at $4,968,189 in the last ninety days.
Hedge funds and other institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in shares of Snap during the 3rd quarter worth about $29,000. Paladin Wealth LLC acquired a new stake in shares of Snap during the 3rd quarter worth about $30,000. Advisors Asset Management Inc. increased its position in shares of Snap by 141.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,782 shares of the company's stock worth $30,000 after purchasing an additional 1,632 shares in the last quarter. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Snap during the 4th quarter worth about $32,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Snap during the 3rd quarter worth about $41,000. 47.52% of the stock is owned by institutional investors.
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.
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