UBS Group Cuts Snap (NYSE:SNAP) Price Target to $9.00

Snap (NYSE:SNAP) had its price objective lowered by UBS Group from $14.00 to $9.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price suggests a potential upside of 14.43% from the company’s current price.

SNAP has been the topic of several other research reports. Wells Fargo & Company decreased their target price on Snap from $11.00 to $9.00 and set an “equal weight” rating on the stock in a report on Monday, March 31st. Citizens Jmp raised Snap from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 28th. Barclays reissued an “overweight” rating on shares of Snap in a research report on Wednesday, February 5th. Citigroup boosted their target price on Snap from $13.00 to $13.50 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Snap in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, twenty-four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.32.

Snap Trading Up 0.4 %

Shares of SNAP traded up $0.04 during midday trading on Friday, hitting $7.87. The stock had a trading volume of 8,238,936 shares, compared to its average volume of 28,083,014. The firm has a market cap of $13.34 billion, a P/E ratio of -18.73 and a beta of 0.92. The business has a 50-day simple moving average of $9.55 and a two-hundred day simple moving average of $10.68. Snap has a fifty-two week low of $7.08 and a fifty-two week high of $17.33. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.13). Snap had a negative return on equity of 25.67% and a negative net margin of 13.02%. As a group, equities analysts forecast that Snap will post -0.3 EPS for the current year.

Insider Activity at Snap

In related news, SVP Eric Young sold 102,152 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $10.84, for a total transaction of $1,107,327.68. Following the completion of the transaction, the senior vice president now owns 3,443,419 shares in the company, valued at $37,326,661.96. The trade was a 2.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 24,000 shares of Snap stock in a transaction on Monday, March 31st. The stock was sold at an average price of $8.60, for a total transaction of $206,400.00. Following the completion of the transaction, the general counsel now directly owns 507,660 shares in the company, valued at $4,365,876. This represents a 4.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,356,523 shares of company stock worth $12,710,077 in the last quarter. 22.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Snap

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its stake in shares of Snap by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,601,172 shares of the company’s stock worth $71,095,000 after acquiring an additional 389,812 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new stake in Snap during the 4th quarter worth about $289,000. Bank of New York Mellon Corp raised its stake in shares of Snap by 2.0% during the 4th quarter. Bank of New York Mellon Corp now owns 1,538,111 shares of the company’s stock valued at $16,565,000 after buying an additional 29,526 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Snap by 3.1% during the 4th quarter. Empowered Funds LLC now owns 35,639 shares of the company’s stock valued at $384,000 after buying an additional 1,055 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Snap by 13.0% in the fourth quarter. Jones Financial Companies Lllp now owns 16,421 shares of the company’s stock worth $177,000 after buying an additional 1,894 shares during the last quarter. 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.