The stock of Snap Inc (NYSE:SNAP) last traded at $15.75, up 4.37% from the previous session.
Data from the available sources indicates that Snap Inc (NYSE:SNAP) is covered by 40 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $22.00 and a low of $7.00, we find $10.50. Given the previous closing price of $15.09, this indicates a potential downside of -30.42 percent. SNAP stock price is now 44.06% away from the 50-day moving average and 50.03% away from the 200-day moving average. The market capitalization of the company currently stands at $25.93B.
In total, 29 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $10.94 as their price target over the next twelve months.
With the price target enhanced from $8 to $22, Wells Fargo Upgraded its rating from Equal Weight to Overweight for Snap Inc (NYSE: SNAP).
In other news, Lynton Michael, Director sold 4,557 shares of the company’s stock on Dec 07. The stock was sold for $66,532 at an average price of $14.60. Upon completion of the transaction, the Director now directly owns 112,809 shares in the company, valued at $1.78 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 30, General Counsel O’Sullivan Michael J. sold 13,000 shares of the business’s stock. A total of $179,768 was realized by selling the stock at an average price of $13.83. This leaves the insider owning 487,005 shares of the company worth $7.67 million. Insiders disposed of 7,829,094 shares of company stock worth roughly $123.31 million over the past 1 year. A total of 37.35% of the company’s stock is owned by insiders.
With an opening price of $15.82 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 $15.36. 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 $10.93 and a two-hundred day moving average price translates $10.50 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 $1.26B 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.
