Citigroup lifts Snap Inc. [SNAP] price estimate. Who else is bullish?

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Snap Inc. [NYSE: SNAP] traded at a high on 04/22/22, posting a 1.16 gain after which it closed the day’ session at $29.76. The company report on April 22, 2022 that Snap Inc. and Tinuiti announce strategic partnership for 2022.

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Tinuiti gains access to the full suite of Snapchat’s audience, products, and services to drive performant business results for clients.

Tinuiti, the largest independent performance marketing firm across Streaming TV and the Triopoly of Google, Meta, Amazon, today announced an agreement with Snap Inc. (NYSE: SNAP) to become a strategic partner in the company’s growing work with independent agencies.

The results of the trading session contributed to over 77415595 shares changing hands. Over the past one week, the price volatility of Snap Inc. stands at 7.85% while the volatility over the past one month is 6.21%.

The market cap for SNAP stock reached $49.96 billion, with 1.62 billion shares outstanding and 1.24 billion shares in the current float. Compared to the average trading volume of 36.86M shares, SNAP reached a trading volume of 77415595 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Snap Inc. [SNAP]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNAP shares is $49.77 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SNAP stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Citigroup have made an estimate for Snap Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 20, 2022. While these analysts kept the previous recommendation, Rosenblatt raised their target price to Buy. The new note on the price target was released on April 19, 2022, representing the official price target for Snap Inc. stock. Previously, the target price had yet another raise to $45, while Deutsche Bank analysts kept a Buy rating on SNAP stock.

The Average True Range (ATR) for Snap Inc. is set at 2.26, with the Price to Sales ratio for SNAP stock in the period of the last 12 months amounting to 12.14. The Price to Book ratio for the last quarter was 13.53, with the Price to Cash per share for the same quarter was set at 2.98. Price to Free Cash Flow for SNAP in the course of the last twelve months was 245.76 with Quick ratio for the last quarter at 7.20.

How has SNAP stock performed recently?

Snap Inc. [SNAP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.33. With this latest performance, SNAP shares dropped by -17.06% in over the last four-week period, additionally sinking by -60.38% over the last 6 months – not to mention a drop of -51.45% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SNAP stock in for the last two-week period is set at 36.67, with the RSI for the last a single of trading hit 30.94, and the three-weeks RSI is set at 40.00 for Snap Inc. [SNAP]. The present Moving Average for the last 50 days of trading for this stock 35.47, while it was recorded at 31.24 for the last single week of trading, and 53.26 for the last 200 days.

Snap Inc. [SNAP]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Snap Inc. [SNAP] shares currently have an operating margin of -17.05 and a Gross Margin at +55.07. Snap Inc.’s Net Margin is presently recorded at -11.85.

Return on Equity for this stock declined to -15.95, with Return on Assets sitting at -7.77.

Snap Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.20 and a Current Ratio set at 7.20.

Earnings analysis for Snap Inc. [SNAP]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SNAP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Snap Inc. go to 55.45%.

Insider trade positions for Snap Inc. [SNAP]

There are presently around $26,019 million, or 66.00% of SNAP stock, in the hands of institutional investors. The top three institutional holders of SNAP stocks are: PRICE T ROWE ASSOCIATES INC /MD/ with ownership of 122,086,490, which is approximately -12.604% of the company’s market cap and around 8.50% of the total institutional ownership; EDGEWOOD MANAGEMENT LLC, holding 73,260,575 shares of the stock with an approximate value of $2.18 billion in SNAP stocks shares; and VANGUARD GROUP INC, currently with $1.94 billion in SNAP stock with ownership of nearly 2.468% of the company’s market capitalization.

433 institutional holders increased their position in Snap Inc. [NYSE:SNAP] by around 115,987,201 shares. Additionally, 398 investors decreased positions by around 123,881,126 shares, while 103 investors held positions by with 634,410,488 shares. The mentioned changes placed institutional holdings at 874,278,815 shares, according to the latest SEC report filing. SNAP stock had 138 new institutional investments in for a total of 25,115,946 shares, while 188 institutional investors sold positions of 32,168,293 shares during the same period.