Stifel Nicolaus Believes Snap (NYSE: SNAP) Still Has Room to Grow

By Ryan Adsit

Stifel Nicolaus analyst John Egbert maintained a Buy rating on Snap (SNAPResearch Report) today and set a price target of $26.00. The company’s shares closed last Thursday at $23.90, close to its 52-week high of $26.76.

According to TipRanks.com, Egbert is a 5-star analyst with an average return of 23.0% and a 60.6% success rate. Egbert covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, Spotify Technology SA, and Criteo SA.

Snap has an analyst consensus of Moderate Buy, with a price target consensus of $23.54, which is a -2.6% downside from current levels. In a report issued on July 9, RBC Capital also maintained a Buy rating on the stock with a $28.00 price target.

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Based on Snap’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $462 million and GAAP net loss of $306 million. In comparison, last year the company earned revenue of $320 million and had a GAAP net loss of $310 million.

Based on the recent corporate insider activity of 145 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNAP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Snap, Inc. engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application. The company’s primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C. Murphy in 2010 and is headquartered in Santa Monica, CA.