On Jan. 04, O’Sullivan Michael J. divested U.S. $1,412,320 in shares of Snap Inc. The GC sold 28,000 shares at a price per share of $50.44. The transaction decreased this specific insider’s holdings to 1,410,935 shares worth around $70.29 million at present.
Goldman maintained it’s Snap Inc. [SNAP] rating to the equivalent of a Buy but changed the price target to $70 from $47, in a research note dated December 29, 2020. That figure represents around a 28.83% premium from where the company’s shares closed on Wednesday. Other analysts also revised their coverage, with Goldman’s analysts reiterating the shares to “a Buy” rating in a research note to investors issued in late December. Meanwhile, Goldman had maintained its rating on SNAP to the earlier “Buy” rating, in a research note produced for clients December 29, 2020. In addition, there was a new coverage from Cleveland Research on December 17, 2020. The research firm rated SNAP “a Buy”.
Is Snap Inc. [NYSE:SNAP] a Good Buy Right Now?
It should be noted that SNAP technical indicators for short, intermediate as well as long term progress have placed an overall average of 80% as Buy. The average signal changed from 96% Buy in the last week and compares with 100% Buy in the past month. Data from Snap Inc.’s Trend Spotter indicated that the signals were Falling. The stock current average is 19.44 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 28.18 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 29.33 million shares.
SNAP Price Performance
On Wall Street, Snap Inc. [NYSE:SNAP] finished Wednesday’s session down -0.97% at $49.82. The stock went up to $51.08 at the same session while its lowest single day price was $48.47. In the last five days, it saw a fall of about -2.75%, Snap Inc. shares dropped by almost -0.50% since the beginning of the year. However, the share price has dropped to as low as -8.94% below its one year high. On 01/06/21, the company shares recorded $51.08, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $48.10. The company’s shares have inclined by 192.54% in the past year. The 50-day SMA achieved is $46.14 while the 200-day SMA is $27.44. Volume gained to 15.05 million from 8.86 million in the previous session.
Snap Inc. [SNAP] Valuation Measures
Notably, Snap Inc. [SNAP] stock can be helpful for investors to consider historical price-sales ratio, more specifically, a 33.93 PS value ratio is reported for the last one year of reported earnings. That is higher than the industry average of 4.44.
SNAP Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 48.50 level, and in case of violation of this particular level, it will cause more drop to 47.18 level. On the upper level, 52.40 is still the key resistance. The stock may increase to the subsequent resistance at 51.11. The Relative Strength Index (RSI) pinned on the 14-day chart is 53.13, implying a neutral technical stance while the MACD stands at -1.01, meaning price will decrease in the next trading period. Percent R indicator moved to 70.97%, implying bearish price movement. Stochastic %K at 30.29% suggest holding the stock.
What is the short interest in Snap Inc.?
Short interest in the Snap Inc. stock has surged, increasing by 0.82 million shares to total 67.95 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 68.77 million, data from Yahoo Finance shows. The decrease of -1.21% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 6.38% of the overall float for the stock.
Snap Inc.’s Biggest Shareholders: Who Owns Snap Inc. [SNAP]?
Filings by T. Rowe Price Associates, Inc. showed that the firm now holds a total of 129,017,741 shares or roughly 10.45% of the outstanding SNAP shares. This means their shares have increased by 15,370,854 from the 129,017,741 the investor reportedly held in its prior 13-F filing. With the conclusion of the purchase, The Vanguard Group, Inc. updated stake is worth $3,750,265,641. Details in the latest 13F filings reveal that Edgewood Management LLC acquired their 14.75% stake valued at $3,342,368,508 while Capital Research & Management Co added theirs at $1,768,212,903. During the last quarter, Edgewood Management LLC raised 9,671,263 of its shares in Snap Inc. while Capital Research & Management Co bought 42,698 shares. The Morgan Stanley Investment Managem’s holdings currently number 31,890,655 shares at $1588792432.1. According to the firm’s last 13F report, BlackRock Fund Advisors shares in the company at filing stood at 22,628,844 shares, roughly $1,005,173,250.
SNAP Earnings Forecast For The Current Quarter
Snap Inc. [SNAP] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $849.47M and an earnings per share of $0.07 for Dec 2020. Looking further ahead, the company is expected to report revenue of $689.56M at an EPS of -$0.02 for Mar 2021. The estimates represent upside of 42.10% and 355.60% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
SNAP Earnings Estimates For The Current Year
For the financial year, Snap Inc. [NYSE:SNAP] is expected to bring in revenue of $2.44B. The returns are nearly $720.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.09, higher than that of FY19 by $0.07. Estimates put this year’s earnings growth at 43.80%, 355.60% for the next, and at an annual 67.40% over the next 5-year period. As for sales, forecasts are for an increase of 42.20% in the current fiscal year and a further 42.10% over the following year.
What are analyst thoughts on Snap Inc.?
Looking forward to the Snap Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Snap Inc. stock at $42.00 within the next 12 months, which represents almost -18.62 per cent growth from its previous closing price of $49.82. The highest analysts’ target for Snap Inc. stock projections is $70.00 and the lowest one is $15.00. Still, 39 analysts sharing their consensus rating for SNAP stock in 2021 agree that it is an Overweight.