Snap Inc (NYSE:SNAP) shares traded -1.56% lower at $15.76 on Wall Street last session.
SNAP stock price is now 28.18% away from the 50-day moving average and 30.20% away from the 200-day moving average. The market capitalization of the company currently stands at $26.01B.
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On January 17, 2024, Piper Sandler reiterated its ‘Neutral’ rating on the stock by increasing its target price from $12 to quote $17, while ‘BMO Capital Markets’ rates the stock as ‘Outperform’
In other news, O’Sullivan Michael J., General Counsel sold 18,000 shares of the company’s stock on Apr 30 ’24. The stock was sold for $271,802 at an average price of $15.10. Upon completion of the transaction, the General Counsel now directly owns 456,812 shares in the company, valued at $7.2 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 29 ’24, Chief Technology Officer Murphy Robert C. sold 1,000,000 shares of the business’s stock. A total of $14,274,500 was realized by selling the stock at an average price of $14.27. This leaves the insider owning 59,894,865 shares of the company worth $943.94 million. A total of 36.79% of the company’s stock is owned by insiders.
During the past 12 months, Snap Inc has had a low of $8.28 and a high of $17.90. As of last week, the company has a debt-to-equity ratio of 1.83, a current ratio of 3.76, and a quick ratio of 3.76.
The net profit margin was -26.99% and return on equity was -55.16% for SNAP. The company reported revenue of $1.19 billion for the quarter, compared to $988.61 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 20.85 percent.
