Snap (NYSE:SNAP) had its target price raised by equities research analysts at Stifel Nicolaus from $13.00 to $17.00 in a report released on Wednesday. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential downside of 12.33% from the company’s current price.
Other research analysts have also recently issued reports about the stock. Bank of America raised shares of Snap from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday. SunTrust Banks reissued a “sell” rating and set a $10.00 price objective on shares of Snap in a report on Thursday, October 12th. BidaskClub cut shares of Snap from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Raymond James Financial reissued an “underperform” rating on shares of Snap in a report on Friday, January 12th. Finally, Wedbush reissued a “hold” rating and set a $12.00 price objective on shares of Snap in a report on Friday, November 3rd. Fourteen research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $18.25.
Snap (NYSE SNAP) opened at $19.39 on Wednesday. The stock has a market cap of $23,350.00 and a PE ratio of -5.86. Snap has a twelve month low of $11.28 and a twelve month high of $29.44.
In other Snap news, CEO Evan Spiegel sold 739,663 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $13.63, for a total value of $10,081,606.69. Following the completion of the transaction, the chief executive officer now directly owns 85,744,509 shares in the company, valued at $1,168,697,657.67. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mitchell Lasky sold 25,000 shares of the company’s stock in a transaction that occurred on 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. Over the last quarter, insiders sold 1,885,626 shares of company stock valued at $25,814,031.
Several institutional investors and hedge funds have recently bought and sold shares of the business. First Manhattan Co. boosted its position in shares of Snap by 384.5% during the third quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock worth $110,000 after acquiring an additional 6,056 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Snap by 967.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,005 shares of the company’s stock worth $116,000 after acquiring an additional 7,255 shares during the last quarter. WFG Advisors LP boosted its position in shares of Snap by 52.4% during the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after acquiring an additional 2,537 shares during the last quarter. Nelson Roberts Investment Advisors LLC boosted its position in shares of Snap by 10,033.0% during the third quarter. Nelson Roberts Investment Advisors LLC now owns 10,133 shares of the company’s stock worth $147,000 after acquiring an additional 10,033 shares during the last quarter. Finally, Westwood Holdings Group Inc. bought a new position in shares of Snap during the second quarter worth $148,000. Institutional investors and hedge funds own 18.97% of the company’s stock.
Snap Company Profile
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.
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