Other research analysts also recently issued reports about the stock. Bank of America dropped their target price on shares of Snap from $50.00 to $30.00 and set a buy rating on the stock in a research report on Tuesday, May 24th. Deutsche Bank Aktiengesellschaft began coverage on shares of Snap in a research report on Friday, March 11th. They issued a buy rating and a $45.00 target price on the stock. JMP Securities dropped their target price on shares of Snap from $50.00 to $45.00 and set a market outperform rating on the stock in a research report on Tuesday, May 24th. Barclays dropped their target price on shares of Snap from $77.00 to $42.00 and set an overweight rating on the stock in a research report on Friday, April 22nd. Finally, Rosenblatt Securities dropped their target price on shares of Snap from $49.00 to $23.00 and set a buy rating on the stock in a research report on Tuesday, May 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Buy and a consensus target price of $39.73.
Shares of NYSE:SNAP opened at $15.58 on Wednesday. Snap has a 52 week low of $12.55 and a 52 week high of $83.34. The company’s 50 day moving average is $29.43 and its two-hundred day moving average is $37.22. The company has a current ratio of 7.19, a quick ratio of 7.19 and a debt-to-equity ratio of 1.05. The company has a market cap of $25.49 billion, a PE ratio of -43.28 and a beta of 1.18.
In other Snap news, CTO Robert C. Murphy sold 900,000 shares of the firm’s stock in a transaction dated Monday, April 25th. The shares were sold at an average price of $29.55, for a total transaction of $26,595,000.00. Following the completion of the transaction, the chief technology officer now directly owns 75,110,002 shares in the company, valued at approximately $2,219,500,559.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Michael J. O’sullivan sold 12,500 shares of the firm’s stock in a transaction dated Monday, February 28th. The shares were sold at an average price of $39.85, for a total transaction of $498,125.00. The disclosure for this sale can be found here. Insiders sold a total of 1,555,687 shares of company stock valued at $44,789,003 in the last quarter.
A number of large investors have recently bought and sold shares of SNAP. Center for Financial Planning Inc. purchased a new position in Snap during the 3rd quarter valued at about $41,000. AlphaCrest Capital Management LLC purchased a new stake in shares of Snap during the third quarter worth about $298,000. Aviva PLC purchased a new stake in shares of Snap during the third quarter worth about $1,530,000. Prospera Financial Services Inc purchased a new stake in shares of Snap during the third quarter worth about $377,000. Finally, Geode Capital Management LLC grew its holdings in shares of Snap by 7.7% during the third quarter. Geode Capital Management LLC now owns 9,258,028 shares of the company’s stock worth $682,550,000 after buying an additional 664,769 shares in the last quarter. Hedge funds and other institutional investors own 53.88% of the company’s stock.
Snap Company Profile (Get Rating)
Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.
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