Investing

Goldman Sachs Maintains Snap Neutral Recommendation

George Maybach

Published: July 17, 2023 10:32 pm

Last Updated: July 18, 2023 1:07 pm

Fintel reports that on July 17, 2023, Goldman Sachs maintained coverage of Snap Inc – (NYSE:SNAP) with a Neutral recommendation.

Analyst Price Forecast Suggests 30.53% Downside

As of July 6, 2023, the average one-year price target for Snap Inc – is 9.36. The forecasts range from a low of 6.06 to a high of $14.70. The average price target represents a decrease of 30.53% from its latest reported closing price of 13.48.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Snap Inc – is 5,131MM, an increase of 13.32%. The projected annual non-GAAP EPS is 0.37.

What is the Fund Sentiment?

There are 900 funds or institutions reporting positions in Snap Inc -. This is a decrease of 50 owner(s) or 5.26% in the last quarter. Average portfolio weight of all funds dedicated to SNAP is 0.18%, a decrease of 35.79%. Total shares owned by institutions decreased in the last three months by 0.02% to 732,061K shares. The put/call ratio of SNAP is 0.50, indicating a bullish outlook.

What are Other Shareholders Doing?

FBGRX – Fidelity Blue Chip Growth Fund holds 52,680K shares representing 3.29% ownership of the company. In it’s prior filing, the firm reported owning 50,206K shares, representing an increase of 4.70%. The firm decreased its portfolio allocation in SNAP by 24.10% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 30,738K shares representing 1.92% ownership of the company. In it’s prior filing, the firm reported owning 30,929K shares, representing a decrease of 0.62%. The firm increased its portfolio allocation in SNAP by 14.94% over the last quarter.

Capital World Investors holds 30,653K shares representing 1.91% ownership of the company. In it’s prior filing, the firm reported owning 30,527K shares, representing an increase of 0.41%. The firm increased its portfolio allocation in SNAP by 21.95% over the last quarter.

D. E. Shaw holds 26,041K shares representing 1.63% ownership of the company. In it’s prior filing, the firm reported owning 24,382K shares, representing an increase of 6.37%. The firm increased its portfolio allocation in SNAP by 29.58% over the last quarter.

Two Sigma Advisers holds 24,619K shares representing 1.54% ownership of the company. In it’s prior filing, the firm reported owning 18,744K shares, representing an increase of 23.86%. The firm increased its portfolio allocation in SNAP by 51.94% over the last quarter.

Snap Background Information
(This description is provided by the company.)

Snap Inc. is a camera company. Snap believes that reinventing the camera represents its greatest opportunity to improve the way people live and communicate. The company contributes to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together.

This article originally appeared on Fintel