JPMorgan Chase & Co. Issues Pessimistic Forecast for Snap (NYSE:SNAP) Stock Price

Snap (NYSE:SNAP) had its price target dropped by investment analysts at JPMorgan Chase & Co. from $11.00 to $10.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential downside of 7.27% from the company’s previous close.

Several other analysts have also recently issued reports on SNAP. Wells Fargo & Company cut Snap from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $15.00 to $11.00 in a report on Wednesday. B. Riley increased their price target on Snap from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Guggenheim restated a “buy” rating and set a $12.11 price target on shares of Snap in a report on Tuesday, December 3rd. BMO Capital Markets restated an “outperform” rating and set a $16.00 price target (down previously from $18.00) on shares of Snap in a report on Wednesday, January 15th. Finally, UBS Group increased their price target on Snap from $12.00 to $13.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, twenty-three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.84.

Snap Price Performance

NYSE SNAP traded down $0.82 during trading hours on Wednesday, reaching $10.78. The company’s stock had a trading volume of 37,987,835 shares, compared to its average volume of 31,596,434. The firm’s 50-day moving average price is $11.52 and its 200-day moving average price is $10.89. The company has a quick ratio of 4.04, a current ratio of 4.04 and a debt-to-equity ratio of 1.63. Snap has a 1 year low of $8.29 and a 1 year high of $17.50. The company has a market capitalization of $18.09 billion, a price-to-earnings ratio of -18.54 and a beta of 0.99.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share (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%. On average, equities research analysts predict that Snap will post -0.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Eric Young sold 112,020 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.55, for a total transaction of $1,181,811.00. Following the completion of the sale, the senior vice president now directly owns 2,791,048 shares in the company, valued at $29,445,556.40. This trade represents a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. O’sullivan sold 12,315 shares of Snap stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $10.54, for a total value of $129,800.10. Following the completion of the transaction, the general counsel now owns 1,195,567 shares of the company’s stock, valued at $12,601,276.18. This trade represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 445,184 shares of company stock valued at $4,968,189 in the last quarter.

Institutional Trading of Snap

Institutional investors and hedge funds have recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new stake in shares of Snap in the 3rd quarter worth approximately $29,000. Paladin Wealth LLC bought a new stake in shares of Snap in the 3rd quarter worth approximately $30,000. Advisors Asset Management Inc. lifted its holdings in shares of Snap by 141.9% in 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 during the last quarter. Comprehensive Financial Planning Inc. PA bought a new stake in shares of Snap in the 4th quarter worth approximately $32,000. Finally, Brooklyn Investment Group bought a new stake in shares of Snap in the 3rd quarter worth approximately $41,000. 47.52% of the stock is currently 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.