Snap (NYSE:SNAP) had its price objective boosted by Morgan Stanley from $5.50 to $8.50 in a report released on Tuesday morning, BenzingaRatingsTable reports. They currently have an underweight rating on the stock.

A number of other research firms have also recently weighed in on SNAP. ValuEngine cut shares of Snap from a buy rating to a hold rating in a research report on Friday, January 4th. Wedbush restated an outperform rating and issued a $12.25 price target on shares of Snap in a report on Wednesday, February 6th. Stifel Nicolaus upped their price target on shares of Snap from $8.00 to $10.00 and gave the stock a hold rating in a report on Wednesday, February 6th. Credit Suisse Group cut their price target on shares of Snap from $12.00 to $9.50 and set an outperform rating on the stock in a report on Monday, January 28th. Finally, Goldman Sachs Group cut shares of Snap from a buy rating to a neutral rating and cut their price target for the stock from $10.00 to $6.00 in a report on Friday, January 4th. Four equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Snap currently has an average rating of Hold and an average target price of $9.53.

SNAP stock opened at $11.67 on Tuesday. Snap has a twelve month low of $4.82 and a twelve month high of $15.96. The firm has a market cap of $15.42 billion, a price-to-earnings ratio of -12.03 and a beta of 1.18.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Tuesday, February 5th. The company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.15. Snap had a negative net margin of 106.39% and a negative return on equity of 46.90%. The business had revenue of $389.82 million for the quarter, compared to analysts’ expectations of $378.90 million. During the same quarter in the previous year, the business posted ($0.13) earnings per share. The business’s revenue was up 36.4% compared to the same quarter last year. On average, equities research analysts expect that Snap will post -0.68 EPS for the current fiscal year.

In related news, CEO Evan Spiegel sold 4,447,107 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $9.98, for a total value of $44,382,127.86. Following the completion of the sale, the chief executive officer now directly owns 74,450,661 shares of the company’s stock, valued at $743,017,596.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jerry James Hunter sold 166,646 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $9.24, for a total transaction of $1,539,809.04. Following the sale, the vice president now directly owns 1,793,593 shares of the company’s stock, valued at $16,572,799.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,643,476 shares of company stock valued at $66,573,374.

Several hedge funds have recently added to or reduced their stakes in the business. TCI Wealth Advisors Inc. lifted its position in shares of Snap by 70.0% during the first quarter. TCI Wealth Advisors Inc. now owns 3,400 shares of the company’s stock valued at $37,000 after buying an additional 1,400 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of Snap by 13.0% during the fourth quarter. Stratos Wealth Partners LTD. now owns 14,458 shares of the company’s stock valued at $80,000 after buying an additional 1,665 shares during the last quarter. FNY Investment Advisers LLC lifted its position in shares of Snap by 306.5% during the fourth quarter. FNY Investment Advisers LLC now owns 5,000 shares of the company’s stock valued at $27,000 after buying an additional 3,770 shares during the last quarter. Edge Wealth Management LLC lifted its position in shares of Snap by 1,173.7% during the fourth quarter. Edge Wealth Management LLC now owns 5,426 shares of the company’s stock valued at $30,000 after buying an additional 5,000 shares during the last quarter. Finally, United Services Automobile Association lifted its position in shares of Snap by 5.7% during the fourth quarter. United Services Automobile Association now owns 106,320 shares of the company’s stock valued at $586,000 after buying an additional 5,746 shares during the last quarter. 23.31% of the stock is owned by institutional investors and hedge funds.

About Snap

Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps surfacing the stories and shows from publishers, creators, and the community, based on a user's subscriptions and interests.

Featured Article: How prevalent are 12b-1 fees?

Analyst Recommendations for Snap (NYSE:SNAP)

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.