With over 16.55 million Snap Inc (SNAP) shares trading Friday and a closing price of $16.93 on the day, the dollar volume was approximately $280.21 million. The shares have shown a positive half year performance of 42.99% and its price on 12/29/23 lost nearly -0.70%. Currently, there are 1.32B common shares owned by the public and among those 1.03B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 41 analysts who have offered their price forecasts for SNAP have a consensus price objective of $12.65. The analysts have set the share’s price value over the next 12 months at a high of $23.00 and a low of $7.00. The average price target is -33.83% below its recent price level and a downside to the estimated low will see the stock lose -141.86% over that period. But an upside of 26.39% will see the stock hit the forecast high price target while median target price for the stock is $11.00.
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Insiders at the company have transacted a total of 90 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 9,366,378 shares. Insider sales of the common stock occurred on 65 occasions, with total insider shares sold totaling 7,584,877 shares.
Shares of Snap Inc (NYSE: SNAP) opened at $17.03, down -$0.02 from a prior closing price of $17.05. However, the script later moved the day high at 17.21, down -0.70%. The company’s stock has a 5-day price change of -1.74% and 90.01% over the past three months. SNAP shares are trading 89.16% year to date (YTD), with the 12-month market performance up to 98.01% higher. It has a 12-month low price of $7.86 and touched a high of $17.90 over the same period. SNAP has an average intraday trading volume of 26.11 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.06%, 30.55%, and 55.28% respectively.
Institutional ownership of Snap Inc (NYSE: SNAP) shares accounts for 45.71% of the company’s 1.32B shares outstanding.
It has a market capitalization of $27.87B and a beta (3y monthly) value of 1.31. The earnings-per-share (ttm) stands at -$0.85. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.29% over the week and 3.77% over the month.
Analysts forecast that Snap Inc (SNAP) will achieve an EPS of $0.06 for the current quarter, -$0.03 for the next quarter and $0.15 for 2024. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.09. Comparatively, EPS for the current quarter was $0.14 a year ago. Earnings per share for the fiscal year are expected to increase by 3.84%, and 19.19% over the next financial year. EPS should grow at an annualized rate of 26.85% over the next five years, compared to 21.35% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 41 brokerage firm advisors rate Snap Inc (SNAP) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 27 of the 41 advise that investors “hold,” and 4 rated it as a “Sell.”
Looking at the support for the SNAP, a number of firms have released research notes about the stock. Raymond James stated their Outperform rating for the stock in a research note on December 20, 2023, with the firm’s price target at $20.
