In yesterday’s Wall Street session, Snap Inc. (NYSE:SNAP) shares traded at $11.07, down -6.03% from the previous session.
As of this writing, 43 analysts cover Snap Inc. (NYSE:SNAP). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $23.00 and a low of $3.00, we find $10.00. Given the previous closing price of $11.78, this indicates a potential downside of -15.11 percent. SNAP stock price is now 4.82% away from the 50-day moving average and -44.49% away from the 200-day moving average. The market capitalization of the company currently stands at $16.55B.
There are 29 analysts who have given it a hold rating, whereas 9 have given it a buy rating. Brokers who have rated the stock have averaged $10.52 as their price target over the next twelve months.
With the price target reduced from $12 to $10, Truist maintained Hold rating for Snap Inc. (NYSE: SNAP). On October 21, 2022, Susquehanna reiterated its ‘Neutral’ rating on the stock by increasing its target price from $11 to quote $8, while ‘Stifel’ rates the stock as ‘Hold’.
In other news, Spiegel Evan, Chief Executive Officer sold 250,000 shares of the company’s stock on Oct 24. The stock was sold for $1,885,500 at an average price of $7.54. Upon completion of the transaction, the Chief Executive Officer now directly owns 4,077,844 shares in the company, valued at $45.14 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 24, Chief Technology Officer Murphy Robert C. sold 900,000 shares of the business’s stock. A total of $6,803,010 was realized by selling the stock at an average price of $7.56. This leaves the insider owning 72,701,841 shares of the company worth $804.81 million. Insiders disposed of 6,844,724 shares of company stock worth roughly $75.77 million over the past 1 year. A total of 8.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SNAP stock. A new stake in Snap Inc. shares was purchased by VOYA INVESTMENT MANAGEMENT LLC during the first quarter worth $87,755,000. HONEYCOMB ASSET MANAGEMENT LP invested $32,103,000 in shares of SNAP during the first quarter. In the first quarter, ARDMORE ROAD ASSET MANAGEMENT LP acquired a new stake in Snap Inc. valued at approximately $24,315,000. CLEARLINE CAPITAL LP acquired a new stake in SNAP for approximately $22,275,000. PRENTICE CAPITAL MANAGEMENT, LP purchased a new stake in SNAP valued at around $14,988,000 in the second quarter. In total, there are 883 active investors with 62.30% ownership of the company’s stock.
Wednesday morning saw Snap Inc. (NYSE: SNAP) opened at $11.60. During the past 12 months, Snap Inc. has had a low of $7.33 and a high of $55.81. As of last week, the company has a debt-to-equity ratio of 1.29, a current ratio of 4.90, and a quick ratio of 4.90. The fifty day moving average price for SNAP is $10.56 and a two-hundred day moving average price translates $19.94 for the stock.
The latest earnings results from Snap Inc. (NYSE: SNAP) was released for Sep, 2022. According to the Internet Content & Information Company, earnings per share came in at $0.08, beating analysts’ expectations of $0 by 0.08. This compares to -$0.05 EPS in the same period last year. The net profit margin was -24.30% and return on equity was -32.70% for SNAP. The company reported revenue of $1.13 billion for the quarter, compared to $1.07 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.71 percent. For the current quarter, analysts expect SNAP to generate $1.31B in revenue.
Snap Inc.(SNAP) Company Profile
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. It also provides Spectacles, an eyewear product that connects with Snapchat and captures photos and video from a human perspective; and advertising products, including AR ads and Snap ads comprises a single image or video ads, story ads, collection ads, dynamic ads, and commercials. The company was formerly known as Snapchat, Inc. and changed its name to Snap Inc. in September 2016. Snap Inc. was founded in 2010 and is headquartered in Santa Monica, California.