The stock of Snap Inc (NYSE:SNAP) last traded at $9.70, up 4.30% from the previous session.
Data from the available sources indicates that Snap Inc (NYSE:SNAP) is covered by 41 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $7.00, we find $10.00. Given the previous closing price of $9.30, this indicates a potential upside of 7.53 percent. SNAP stock price is now 5.06% away from the 50-day moving average and -5.39% away from the 200-day moving average. The market capitalization of the company currently stands at $15.97B.
In total, 30 analysts have assigned it a hold rating, and 3 have given it a buy rating. Brokers who have rated the stock have averaged $10.03 as their price target over the next twelve months.
With the price target maintained at $9, China Renaissance recently Upgraded its rating from Sell to Hold for Snap Inc (NYSE: SNAP).
In other news, Murphy Robert C., Chief Technology Officer sold 1,000,000 shares of the company’s stock on Oct 26. The stock was sold for $9,048,100 at an average price of $9.05. Upon completion of the transaction, the Chief Technology Officer now directly owns 67,572,851 shares in the company, valued at $655.46 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 26, Chief Executive Officer Spiegel Evan sold 150,000 shares of the business’s stock. A total of $1,347,720 was realized by selling the stock at an average price of $8.98. This leaves the insider owning 3,777,844 shares of the company worth $36.65 million. Insiders disposed of 6,551,587 shares of company stock worth roughly $63.55 million over the past 1 year. A total of 37.83% 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 SRS INVESTMENT MANAGEMENT, LLC during the first quarter worth $489,760,000. KETTLE HILL CAPITAL MANAGEMENT, LLC invested $20,228,000 in shares of SNAP during the first quarter. In the first quarter, POLAR ASSET MANAGEMENT PARTNERS INC. acquired a new stake in Snap Inc valued at approximately $12,342,000. SIMPLEX TRADING, LLC acquired a new stake in SNAP for approximately $6,842,000. PARTNERS CAPITAL INVESTMENT GROUP, LLP purchased a new stake in SNAP valued at around $6,336,000 in the second quarter. In total, there are 818 active investors with 44.15% ownership of the company’s stock.
With an opening price of $9.34 on Monday morning, Snap Inc (NYSE: SNAP) set off the trading day. During the past 12 months, Snap Inc has had a low of $7.86 and a high of $13.89. As of last week, the company has a debt-to-equity ratio of 1.67, a current ratio of 4.83, and a quick ratio of 4.83. The fifty day moving average price for SNAP is $9.24 and a two-hundred day moving average price translates $10.25 for the stock.
The latest earnings results from Snap Inc (NYSE: SNAP) was released for Sep, 2023. According to the Internet Content & Information Company, earnings per share came in at -$0.02, beating analysts’ expectations of -$0.04 by 0.02. This compares to -$0.22 EPS in the same period last year. The net profit margin was -29.99% and return on equity was -50.53% for SNAP. The company reported revenue of $1.19 billion for the quarter, compared to $1.13 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.32 percent. For the current quarter, analysts expect SNAP to generate $1.11B 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.
