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

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

SNAP has been the subject of several other research reports. Rosenblatt Securities raised their target price on Snap from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Morgan Stanley decreased their target price on Snap from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, February 7th. Royal Bank of Canada decreased their price objective on Snap from $17.00 to $13.00 and set a “sector perform” rating for the company in a report on Wednesday, February 7th. Truist Financial boosted their price objective on Snap from $11.00 to $12.00 and gave the company a “hold” rating in a report on Wednesday, February 7th. Finally, Guggenheim upgraded Snap from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $9.00 to $23.00 in a report on Monday, December 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $13.86.

Snap Price Performance

Shares of SNAP opened at $10.90 on Tuesday. Snap has a 1 year low of $7.86 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The company has a market capitalization of $17.99 billion, a price-to-earnings ratio of -13.13 and a beta of 1.13. The business has a 50-day moving average of $11.19 and a 200-day moving average of $12.71.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.04. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.39 billion. As a group, equities research analysts anticipate that Snap will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Derek Andersen sold 96,953 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.99, for a total transaction of $1,065,513.47. Following the completion of the sale, the chief financial officer now owns 2,534,689 shares in the company, valued at $27,856,232.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total value of $210,080.00. Following the transaction, the general counsel now owns 461,005 shares of the company’s stock, valued at $7,449,840.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Derek Andersen sold 96,953 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $10.99, for a total value of $1,065,513.47. Following the completion of the transaction, the chief financial officer now directly owns 2,534,689 shares in the company, valued at approximately $27,856,232.11. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 470,054 shares of company stock worth $5,279,729.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. NBC Securities Inc. boosted its position in Snap by 2,580.4% in the fourth quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after purchasing an additional 1,445 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Snap during the 4th quarter valued at $29,000. Newbridge Financial Services Group Inc. lifted its position in shares of Snap by 75.0% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares during the last quarter. Allworth Financial LP lifted its position in shares of Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock valued at $47,000 after buying an additional 1,708 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Snap by 365.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company’s stock valued at $47,000 after buying an additional 3,094 shares during the last quarter. Hedge funds and other institutional investors 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.