UBS Group Lowers Snap (NYSE:SNAP) Price Target to $13.00

Snap (NYSE:SNAP) had its price target decreased by research analysts at UBS Group from $14.00 to $13.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s price target suggests a potential upside of 19.27% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Snap from $14.00 to $12.00 and set a “hold” rating on the stock in a research note on Tuesday. Truist Financial increased their target price on shares of Snap from $11.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday, February 7th. Royal Bank of Canada decreased their price target on shares of Snap from $17.00 to $13.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 7th. Morgan Stanley decreased their price target on shares of Snap from $13.00 to $11.00 and set an “underweight” rating on the stock in a research note on Wednesday, February 7th. Finally, Wells Fargo & Company decreased their price target on shares of Snap from $22.00 to $16.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Snap presently has an average rating of “Hold” and a consensus price target of $13.86.

Snap Price Performance

Shares of SNAP opened at $10.90 on Tuesday. The business’s 50-day moving average is $11.19 and its two-hundred day moving average is $12.71. The company has a market capitalization of $17.99 billion, a P/E ratio of -13.13 and a beta of 1.13. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.04. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.39 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. Research analysts predict that Snap will post -0.58 earnings per share for the current year.

Insiders Place Their Bets

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the transaction, the general counsel now directly owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, General Counsel Michael J. O’sullivan sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total transaction of $210,080.00. Following the completion of the sale, the general counsel now owns 461,005 shares in the company, valued at approximately $7,449,840.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eric Young sold 120,472 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the sale, the senior vice president now owns 3,540,852 shares of the company’s stock, valued at approximately $39,409,682.76. The disclosure for this sale can be found here. Insiders have sold 470,054 shares of company stock valued at $5,279,729 in the last ninety days.

Institutional Trading of Snap

A number of hedge funds and other institutional investors have recently made changes to their positions in SNAP. Acadian Asset Management LLC increased its holdings in Snap by 72.6% in the 1st quarter. Acadian Asset Management LLC now owns 8,456 shares of the company’s stock valued at $304,000 after purchasing an additional 3,556 shares during the last quarter. Raymond James Trust N.A. boosted its position in Snap by 28.6% in the 1st quarter. Raymond James Trust N.A. now owns 8,708 shares of the company’s stock valued at $313,000 after buying an additional 1,936 shares during the period. Cibc World Market Inc. boosted its position in Snap by 9.4% in the 1st quarter. Cibc World Market Inc. now owns 23,977 shares of the company’s stock valued at $863,000 after buying an additional 2,061 shares during the period. Dimensional Fund Advisors LP boosted its position in Snap by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 786,417 shares of the company’s stock valued at $28,305,000 after buying an additional 5,182 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in shares of Snap during the 1st quarter worth $3,216,000. Institutional investors and hedge funds own 47.52% of the company’s stock.

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.