Snap (NYSE:SNAP) Stock Price Target Lowered at UBS Group

Snap (NYSE:SNAP) had its price objective reduced by UBS Group from $7.00 to $6.00 in a research report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

SNAP has been the subject of several other research reports. Evercore set a $8.00 price objective on Snap in a research report on Tuesday, August 4th. Freedom Capital raised shares of Snap from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $8.00 price target on shares of Snap in a research note on Thursday, September 17th. The Goldman Sachs Group reissued a “neutral” rating and set a $6.50 price target on shares of Snap in a research report on Tuesday, August 4th. Finally, Citizens Jmp reissued a “market perform” rating on shares of Snap in a research report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-three have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.33.

Snap Stock Down 14.3%

Shares of NYSE:SNAP opened at $5.07 on Thursday. The firm has a market capitalization of $8.58 billion, a P/E ratio of -56.36 and a beta of 1.23. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.94 and a current ratio of 2.94. The stock has a 50 day moving average price of $5.75 and a 200-day moving average price of $5.41. Snap has a 52-week low of $3.81 and a 52-week high of $9.13.

Snap (NYSE:SNAP) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.03 earnings per share for the quarter. The company had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. Snap had a negative return on equity of 7.21% and a negative net margin of 2.30%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. As a group, equities research analysts anticipate that Snap will post -0.03 EPS for the current fiscal year.

Insider Activity at Snap

In related news, CAO Rebecca Morrow sold 20,000 shares of the company’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $5.35, for a total transaction of $107,000.00. Following the completion of the sale, the chief accounting officer owned 578,105 shares in the company, valued at approximately $3,092,861.75. This represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ajit Mohan sold 6,797 shares of the stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $5.82, for a total value of $39,558.54. Following the completion of the transaction, the insider directly owned 4,965,300 shares in the company, valued at approximately $28,898,046. This represents a 0.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 445,926 shares of company stock worth $2,326,930. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Several hedge funds and other institutional investors have recently made changes to their positions in SNAP. Saba Capital Management L.P. lifted its position in Snap by 232.5% during the first quarter. Saba Capital Management L.P. now owns 4,727,808 shares of the company’s stock valued at $21,748,000 after purchasing an additional 3,306,024 shares in the last quarter. Empyrean Capital Partners LP purchased a new stake in Snap in the first quarter worth about $25,300,000. Assenagon Asset Management S.A. increased its position in Snap by 1,191.8% in the second quarter. Assenagon Asset Management S.A. now owns 3,903,141 shares of the company’s stock worth $17,330,000 after buying an additional 3,601,002 shares in the last quarter. Curated Wealth Partners LLC raised its stake in shares of Snap by 540.0% in the third quarter. Curated Wealth Partners LLC now owns 544,828 shares of the company’s stock worth $2,942,000 after buying an additional 459,704 shares during the period. Finally, First Trust Advisors LP raised its stake in shares of Snap by 302.9% in the first quarter. First Trust Advisors LP now owns 389,736 shares of the company’s stock worth $1,793,000 after buying an additional 293,003 shares during the period. Hedge funds and other institutional investors own 47.52% of the company’s stock.

Snap News Summary

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Snapchat+ surpassed 30 million paid subscribers, up 5 million since February, adding evidence of growing subscription revenue beyond advertising. Snapchat surpasses 30M paid subscribers
• Positive Sentiment: Snap returned to net profitability, and some reports said adjusted earnings beat expectations. Fourth-quarter revenue guidance was $1.95 billion to $1.99 billion. Snap shares fall over 10% on third-quarter earnings miss
• Neutral Sentiment: Call-option trading was unusually active, with volume about 51% above typical levels. This may indicate bullish positioning, but options activity alone does not establish the market’s direction. Traders Purchase High Volume of Call Options on Snap
• Neutral Sentiment: Barclays cut its price target from $16 to $8 but kept an “overweight” rating, signaling a more cautious outlook while still seeing potential upside. Barclays recommendations
• Negative Sentiment: Third-quarter revenue of $1.72 billion missed estimates, and daily active users also fell short of forecasts. The results raised concerns about the pace of advertising recovery; revenue was up 14% year over year but the shortfall drove the selloff. Snap shares fall as revenue and daily users miss estimates
• Negative Sentiment: JPMorgan lowered its target from $6 to $5 and assigned an “underweight” rating; Cantor Fitzgerald also cut its target to $5, with a “neutral” rating. Snap price target lowered

About Snap

Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, messages and Stories, while offering creative tools such as augmented reality (AR) Lenses and filters. The platform also includes features such as Snap Map, Spotlight and content from publishers and creators.

Snap generates most of its revenue from digital advertising, including video, augmented reality and other advertising formats delivered across Snapchat.