Snap (NYSE:SNAP) Price Target Increased to $18.00 by Analysts at Credit Suisse Group

Snap (NYSE:SNAP) had its target price upped by Credit Suisse Group from $15.00 to $18.00 in a report released on Tuesday morning, Briefing.com Automated Import reports. The firm currently has an outperform rating on the stock.

Several other research analysts have also issued reports on SNAP. Consumer Edge assumed coverage on Snap in a research note on Tuesday, March 12th. They set an outperform rating for the company. UBS Group increased their price objective on W. R. Berkley from $53.00 to $56.00 and gave the stock a sell rating in a research note on Wednesday, April 24th. Royal Bank of Canada upgraded Snap from a sector perform rating to an outperform rating and increased their price objective for the stock from $10.00 to $17.00 in a research note on Friday, April 5th. Summit Insights upgraded Snap from a sell rating to a hold rating and set a $11.50 target price on the stock in a report on Friday, April 5th. Finally, BTIG Research increased their target price on Snap from $15.00 to $20.00 and gave the stock a buy rating in a report on Tuesday, June 18th. Four research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and ten have assigned a buy rating to the stock. Snap has a consensus rating of Hold and an average target price of $12.09.

Snap stock opened at $15.61 on Tuesday. The company has a quick ratio of 4.75, a current ratio of 4.75 and a debt-to-equity ratio of 0.15. The business’s fifty day moving average is $13.81. Snap has a 52-week low of $4.82 and a 52-week high of $16.24. The firm has a market capitalization of $21.14 billion, a price-to-earnings ratio of -16.09 and a beta of 1.08.

Snap (NYSE:SNAP) last released its quarterly earnings data on Tuesday, April 23rd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.02). Snap had a negative return on equity of 47.71% and a negative net margin of 92.94%. The company had revenue of $320.43 million for the quarter, compared to analyst estimates of $306.28 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. The business’s revenue was up 38.9% compared to the same quarter last year. On average, sell-side analysts forecast that Snap will post -0.76 EPS for the current fiscal year.

In related news, Director Michael Lynton sold 127,663 shares of the firm’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $15.04, for a total value of $1,920,051.52. Following the transaction, the director now owns 68,149 shares in the company, valued at $1,024,960.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jerry James Hunter sold 8,770 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $11.72, for a total value of $102,784.40. Following the completion of the transaction, the vice president now owns 1,677,417 shares in the company, valued at approximately $19,659,327.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,748,027 shares of company stock worth $34,004,202.

Institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in Snap by 8.6% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 18,403 shares of the company’s stock valued at $203,000 after acquiring an additional 1,450 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in Snap in the first quarter valued at about $115,000. KCL Capital L.P. bought a new position in Snap in the first quarter valued at about $12,122,000. Geode Capital Management LLC boosted its holdings in Snap by 4.5% in the fourth quarter. Geode Capital Management LLC now owns 4,810,361 shares of the company’s stock valued at $26,505,000 after acquiring an additional 208,932 shares during the last quarter. Finally, Meitav Dash Investments Ltd. bought a new position in Snap in the first quarter valued at about $123,000. Institutional investors and hedge funds own 26.08% of the company’s stock.

About Snap

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. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page 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.

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