JMP Securities Cuts Snap (NYSE:SNAP) Price Target to $16.00

Snap (NYSE:SNAP) had its price target reduced by JMP Securities from $17.00 to $16.00 in a research note published on Wednesday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

SNAP has been the subject of a number of other research reports. Barclays dropped their price target on Snap from $17.00 to $16.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Cantor Fitzgerald lifted their price target on Snap from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $14.00 target price on shares of Snap in a research report on Wednesday, September 18th. Stifel Nicolaus dropped their target price on Snap from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, October 14th. Finally, Evercore ISI boosted their target price on Snap from $12.00 to $15.00 and gave the stock an “in-line” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, twenty-two have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.25.

Snap Trading Up 3.0 %

SNAP stock opened at $12.53 on Wednesday. The company has a quick ratio of 3.98, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap has a twelve month low of $8.29 and a twelve month high of $17.90. The stock has a 50-day simple moving average of $10.12 and a two-hundred day simple moving average of $12.69.

Snap (NYSE:SNAP) last posted its earnings results on Tuesday, October 29th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. Snap had a negative return on equity of 35.60% and a negative net margin of 18.49%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.21) EPS. As a group, sell-side analysts predict that Snap will post -0.47 EPS for the current year.

Insider Activity at Snap

In other news, Director Joanna Coles sold 6,434 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total value of $77,208.00. Following the completion of the sale, the director now owns 54,761 shares in the company, valued at approximately $657,132. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Snap news, Director Joanna Coles sold 6,434 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $12.00, for a total transaction of $77,208.00. Following the completion of the transaction, the director now directly owns 54,761 shares in the company, valued at approximately $657,132. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $10.81, for a total transaction of $194,580.00. Following the transaction, the general counsel now owns 489,058 shares of the company’s stock, valued at $5,286,716.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,497,051 shares of company stock valued at $13,261,098 in the last ninety days. Insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Several hedge funds have recently modified their holdings of SNAP. V Square Quantitative Management LLC acquired a new position in shares of Snap during the third quarter worth $29,000. Paladin Wealth LLC acquired a new position in shares of Snap during the third quarter valued at $30,000. Hollencrest Capital Management acquired a new stake in Snap in the second quarter worth about $33,000. Blue Trust Inc. lifted its holdings in Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after purchasing an additional 1,682 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in Snap in the second quarter worth about $40,000. 47.52% of the stock is owned by institutional investors and hedge funds.

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.