Snap (NYSE:SNAP) PT Lowered to $25.00

Snap (NYSE:SNAP – Get Rating) had its target price reduced by research analysts at KeyCorp from $27.00 to $25.00 in a research report issued to clients and investors on Thursday, Stock Target Advisor reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 151.00% from the stock’s previous close.

A number of other brokerages also recently issued reports on SNAP. Barclays lowered their price objective on Snap from $42.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 5th. Jefferies Financial Group lowered their price target on Snap from $52.00 to $30.00 in a research report on Tuesday, May 24th. Stifel Nicolaus lowered their price target on Snap from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 22nd. JPMorgan Chase & Co. lowered their price target on Snap from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 29th. Finally, Susquehanna Bancshares lowered their price target on Snap from $34.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 25th. Two investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap has a consensus rating of “Hold” and an average price target of $22.78.

Snap Trading Down 39.1 %

Shares of SNAP stock opened at $9.96 on Thursday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 7.19 and a current ratio of 7.19. Snap has a 52-week low of $9.91 and a 52-week high of $83.34. The company has a market capitalization of $16.30 billion, a PE ratio of -27.67 and a beta of 1.20. The business’s fifty day moving average is $15.02 and its 200 day moving average is $27.52.

Snap (NYSE:SNAP – Get Rating) last issued its quarterly earnings data on Thursday, April 21st. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). Snap had a negative return on equity of 16.37% and a negative net margin of 12.71%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business posted ($0.19) EPS. The company’s quarterly revenue was up 38.1% on a year-over-year basis. On average, equities research analysts anticipate that Snap will post -0.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Snap news, CFO Derek Andersen sold 6,718 shares of the firm’s stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $11.91, for a total value of $80,011.38. Following the completion of the sale, the chief financial officer now directly owns 1,138,505 shares in the company, valued at $13,559,594.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jeremi Gorman sold 37,740 shares of Snap stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $12.28, for a total transaction of $463,447.20. Following the completion of the transaction, the insider now directly owns 1,449,178 shares in the company, valued at $17,795,905.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Derek Andersen sold 6,718 shares of Snap stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $11.91, for a total transaction of $80,011.38. Following the transaction, the chief financial officer now owns 1,138,505 shares of the company’s stock, valued at $13,559,594.55. The disclosure for this sale can be found here. Insiders sold 1,520,386 shares of company stock worth $41,751,856 over the last three months.

Hedge Funds Weigh In On Snap

Several large investors have recently made changes to their positions in the business. AdvisorNet Financial Inc raised its holdings in Snap by 198.7% in the 1st quarter. AdvisorNet Financial Inc now owns 708 shares of the company’s stock worth $25,000 after acquiring an additional 471 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in Snap in the 1st quarter worth approximately $27,000. GHP Investment Advisors Inc. purchased a new position in Snap in the 1st quarter worth approximately $28,000. Manchester Capital Management LLC raised its holdings in Snap by 64.7% in the 4th quarter. Manchester Capital Management LLC now owns 621 shares of the company’s stock worth $29,000 after acquiring an additional 244 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in Snap by 1,189.2% in the 1st quarter. Meeder Asset Management Inc. now owns 838 shares of the company’s stock worth $30,000 after acquiring an additional 773 shares during the last quarter. 53.88% of the stock is currently owned by hedge funds and other institutional investors.

About Snap

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Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

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