Uncovering Institutional Buying In Snap Inc (NYSE: SNAP)

Currently, there are 1.39B common shares owned by the public and among those 1.04B shares have been available to trade.

The company’s stock has a 5-day price change of 2.87% and -32.27% over the past three months. SNAP shares are trading -32.19% year to date (YTD), with the 12-month market performance up to 3.80% 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 31.04 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 0.64%, -10.43%, and -3.91% respectively.

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Institutional ownership of Snap Inc (NYSE: SNAP) shares accounts for 47.96% of the company’s 1.39B shares outstanding.

It has a market capitalization of $18.95B and a beta (3y monthly) value of 1.13. The earnings-per-share (ttm) stands at -$0.82. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.92% over the week and 4.06% over the month.

Analysts forecast that Snap Inc (SNAP) will achieve an EPS of -$0.05 for the current quarter, $0 for the next quarter and $0.37 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.1 while analysts give the company a high EPS estimate of $0.01. Comparatively, EPS for the current quarter was $0.01 a year ago. Earnings per share for the fiscal year are expected to increase by 25.14%, and 37.24% over the next financial year.

Looking at the support for the SNAP, a number of firms have released research notes about the stock. Piper Sandler stated their Neutral rating for the stock in a research note on January 17, 2024, with the firm’s price target at $12-$17. BMO Capital Markets coverage for the Snap Inc (SNAP) stock in a research note released on January 09, 2024 offered a Outperform rating with a price target of $22. Raymond James was of a view on December 20, 2023 that the stock is Outperform, while Guggenheim gave the stock Buy rating on December 18, 2023, issuing a price target of $23. Wells Fargo on their part issued Overweight rating on December 11, 2023.

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