Snap Inc (NYSE:SNAP) shares traded 2.37% higher at $16.43 on Wall Street last session.
SNAP stock price is now 28.82% away from the 50-day moving average and 34.34% away from the 200-day moving average. The market capitalization of the company currently stands at $27.12B.
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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, Young Eric, SVP of Engineering sold 115,915 shares of the company’s stock on May 16 ’24. The stock was sold for $1,844,184 at an average price of $15.91. Upon completion of the transaction, the SVP of Engineering now directly owns 3,292,657 shares in the company, valued at $54.1 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 16 ’24, General Counsel O’Sullivan Michael J. sold 12,695 shares of the business’s stock. A total of $201,965 was realized by selling the stock at an average price of $15.91. This leaves the insider owning 1,460,617 shares of the company worth $24.0 million. A total of 36.81% 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.
Snap Inc(SNAP) Company Profile
Snap Inc. operates as a technology company in North America, Europe, and internationally. The company offers Snapchat, a visual messaging application with various tabs, such as camera, visual messaging, snap map, stories, and spotlight that enable people to communicate visually through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures photos and video from a human perspective; and advertising products, including AR ads and Snap ads comprises a single image or video ads, collection ads, dynamic ads, story ads, and commercials. The company was formerly known as Snapchat, Inc. and changed its name to Snap Inc. in September 2016. Snap Inc. was founded in 2010 and is headquartered in Santa Monica, California.
