Stocks of Snap Inc (NYSE:SNAP) traded higher last session on Wall Street, up 2.19% to $12.15.
According to the data, Snap Inc (NYSE:SNAP) has 41 analysts covering its stock. 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 $11.89, this indicates a potential downside of -15.9 percent. SNAP stock price is now 25.91% away from the 50-day moving average and 17.80% away from the 200-day moving average. The market capitalization of the company currently stands at $20.00B.
A total of 32 analysts have issued a hold rating and 2 have given it a buy rating. Brokers who have rated the stock have averaged $10.07 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, Young Eric, SVP of Engineering sold 119,112 shares of the company’s stock on Nov 16. The stock was sold for $1,417,492 at an average price of $11.90. Upon completion of the transaction, the SVP of Engineering now directly owns 3,391,040 shares in the company, valued at $41.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 16, Chief Financial Officer Andersen Derek sold 40,144 shares of the business’s stock. A total of $477,698 was realized by selling the stock at an average price of $11.90. This leaves the insider owning 2,293,339 shares of the company worth $27.86 million. Insiders disposed of 7,771,923 shares of company stock worth roughly $94.43 million over the past 1 year. A total of 37.36% of the company’s stock is owned by insiders.
Monday’s opening bell rang with an opening price of $11.88 for Snap Inc (NYSE: SNAP). 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 $9.65 and a two-hundred day moving average price translates $10.31 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 0.06. 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 $1.25B in revenue.