Snap Inc. (NYSE:SNAP) shares traded 8.83% higher at $9.37 on Wall Street last session.
In accordance with the data, 39 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 $16.00 and a low of $6.00, we find $9.00. Given the previous closing price of $8.61, this indicates a potential upside of 4.53 percent. SNAP stock price is now -7.81% away from the 50-day moving average and -8.95% away from the 200-day moving average. The market capitalization of the company currently stands at $15.36B.
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It has been rated a hold by 29 analysts and a buy by 4. Brokers who have rated the stock have averaged $9.19 as their price target over the next twelve months.
With the price target maintained at $10, UBS recently Downgraded its rating from Buy to Neutral for Snap Inc. (NYSE: SNAP)., while ‘JMP Securities’ rates the stock as ‘Mkt Perform’.
In other news, Hunter Jerry James, Chief Operating Officer sold 64,409 shares of the company’s stock on May 16. The stock was sold for $548,262 at an average price of $8.51. Upon completion of the transaction, the Chief Operating Officer now directly owns 4,701,927 shares in the company, valued at $44.06 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 12, Chief Operating Officer Hunter Jerry James sold 42,105 shares of the business’s stock. A total of $367,193 was realized by selling the stock at an average price of $8.72. This leaves the insider owning 948,137 shares of the company worth $8.88 million. Insiders disposed of 5,543,541 shares of company stock worth roughly $51.94 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 HOLOCENE ADVISORS, LP during the first quarter worth $43,584,000. TWINBEECH CAPITAL LP invested $15,744,000 in shares of SNAP during the first quarter. In the first quarter, DAVIDSON KEMPNER CAPITAL MANAGEMENT LP acquired a new stake in Snap Inc. valued at approximately $7,028,000. DAVIDSON KEMPNER PARTNERS acquired a new stake in SNAP for approximately $7,028,000. OPTIVER HOLDING B.V. purchased a new stake in SNAP valued at around $6,813,000 in the second quarter. In total, there are 840 active investors with 55.00% ownership of the company’s stock.
Snap Inc. (NYSE: SNAP) opened at $8.73 on Wednesday. During the past 12 months, Snap Inc. has had a low of $7.33 and a high of $24.75. As of last week, the company has a debt-to-equity ratio of 1.45, a current ratio of 4.70, and a quick ratio of 4.70. The fifty day moving average price for SNAP is $10.12 and a two-hundred day moving average price translates $10.29 for the stock.
The latest earnings results from Snap Inc. (NYSE: SNAP) was released for Mar, 2023. According to the Internet Content & Information Company, earnings per share came in at $0.01, beating analysts’ expectations of -$0.01 by 0.02. This compares to -$0.22 EPS in the same period last year. The net profit margin was -30.90% and return on equity was -48.60% for SNAP. The company reported revenue of $988.61 million for the quarter, compared to $1.06 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -6.97 percent. For the current quarter, analysts expect SNAP to generate $1.05B in revenue.
Snap Inc.(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. 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.
