Snap (NYSE:SNAP) Price Target Cut to $13.00 by Analysts at UBS Group

Snap (NYSE:SNAP) had its price objective cut by UBS Group from $14.00 to $13.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently weighed in on SNAP. Rosenblatt Securities upped their price target on shares of Snap from $11.00 to $12.00 and gave the stock a neutral rating in a report on Wednesday, February 7th. Deutsche Bank Aktiengesellschaft raised shares of Snap from a hold rating to a buy rating and upped their price target for the stock from $10.00 to $19.00 in a report on Friday, January 26th. Truist Financial upped their price target on shares of Snap from $11.00 to $12.00 and gave the stock a hold rating in a report on Wednesday, February 7th. The Goldman Sachs Group cut their target price on shares of Snap from $15.00 to $13.50 and set a neutral rating for the company in a research report on Thursday, February 8th. Finally, Royal Bank of Canada cut their target price on shares of Snap from $17.00 to $13.00 and set a sector perform rating for the company in a research report on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $13.65.

Snap Trading Up 0.7 %

Shares of SNAP stock opened at $10.42 on Tuesday. The company’s fifty day simple moving average is $11.20 and its two-hundred day simple moving average is $12.73. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. Snap has a 1 year low of $7.86 and a 1 year high of $17.90. The stock has a market capitalization of $17.19 billion, a price-to-earnings ratio of -12.55 and a beta of 1.13.

Snap (NYSE:SNAP) last released 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 firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. As a group, analysts anticipate that Snap will post -0.58 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the transaction, the general counsel now directly owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $11.53, for a total value of $207,540.00. Following the completion of the transaction, the general counsel now directly owns 474,812 shares of the company’s stock, valued at $5,474,582.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Rebecca Morrow sold 2,442 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.00, for a total transaction of $26,862.00. Following the completion of the transaction, the chief accounting officer now directly owns 493,084 shares of the company’s stock, valued at $5,423,924. The disclosure for this sale can be found here. Insiders sold a total of 470,054 shares of company stock valued at $5,279,729 over the last three months.

Hedge Funds Weigh In On Snap

A number of institutional investors and hedge funds have recently made changes to their positions in the business. TB Alternative Assets Ltd. increased its stake in shares of Snap by 144.5% during the first quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company’s stock valued at $58,488,000 after purchasing an additional 3,011,400 shares in the last quarter. Arkfeld Wealth Strategies L.L.C. bought a new position in shares of Snap during the first quarter valued at approximately $113,000. Global Assets Advisory LLC bought a new position in shares of Snap during the first quarter valued at approximately $129,000. Perpetual Ltd bought a new position in shares of Snap during the first quarter valued at approximately $273,000. Finally, Campbell Capital Management Inc. bought a new position in shares of Snap during the first quarter valued at approximately $1,135,000. Institutional investors own 47.52% of the company’s stock.

About Snap

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.