Snap (NYSE:SNAP)‘s stock had its “buy” rating restated by stock analysts at Goldman Sachs Group in a research note issued on Thursday. They currently have a $23.00 target price on the stock, up from their previous target price of $18.00. Goldman Sachs Group’s target price points to a potential upside of 20.23% from the stock’s current price.
A number of other research analysts also recently weighed in on the stock. Vetr raised shares of Snap from a “hold” rating to a “strong-buy” rating and set a $18.29 target price for the company in a research report on Thursday, October 19th. Morgan Stanley cut shares of Snap from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 9th. Zacks Investment Research cut shares of Snap from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. BidaskClub cut shares of Snap from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $18.00 price target on shares of Snap in a research note on Tuesday, January 9th. Fourteen analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have given a buy rating to the company. Snap has a consensus rating of “Hold” and a consensus target price of $18.25.
Snap (NYSE:SNAP) traded down $1.62 during trading on Thursday, reaching $19.13. 49,684,739 shares of the company were exchanged, compared to its average volume of 26,504,244. The company has a market capitalization of $24,990.00 and a P/E ratio of -5.78. Snap has a 1-year low of $11.28 and a 1-year high of $29.44.
In related news, VP Steven Michael Horowitz sold 286,332 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $12.54, for a total transaction of $3,590,603.28. Following the transaction, the vice president now directly owns 2,532,598 shares of the company’s stock, valued at $31,758,778.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mitchell Lasky sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $13.98, for a total transaction of $349,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,885,626 shares of company stock valued at $25,814,031.
A number of large investors have recently added to or reduced their stakes in SNAP. Segantii Capital Management Ltd bought a new position in Snap in the 4th quarter valued at about $1,826,000. River & Mercantile Asset Management LLP increased its holdings in Snap by 23.5% in the 4th quarter. River & Mercantile Asset Management LLP now owns 299,930 shares of the company’s stock valued at $4,383,000 after buying an additional 57,000 shares during the period. California Public Employees Retirement System increased its holdings in Snap by 446.9% in the 4th quarter. California Public Employees Retirement System now owns 592,824 shares of the company’s stock valued at $8,661,000 after buying an additional 484,424 shares during the period. Alps Advisors Inc. bought a new stake in shares of Snap during the 4th quarter valued at approximately $207,000. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Snap during the 4th quarter valued at approximately $314,000. 18.97% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This article was first published by Community Financial News and is the sole property of of Community Financial News. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.com-unik.info/2018/02/08/snap-snap-price-target-raised-to-23-00.html.
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.