Snap (NYSE:SNAP) Price Target Cut to $9.00 by Analysts at UBS Group

Snap (NYSE:SNAP) had its target price lowered by UBS Group from $14.00 to $9.00 in a report issued on Friday,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities analysts have also recently issued reports on SNAP. Guggenheim reissued a “neutral” rating on shares of Snap in a research note on Wednesday, April 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $16.00 price target (down from $18.00) on shares of Snap in a research note on Wednesday, January 15th. Barclays restated 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 stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, JMP Securities reissued a “market outperform” rating and issued a $16.00 price target on shares of Snap in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.32.

Snap Price Performance

Shares of SNAP opened at $7.99 on Friday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 3.95 and a current ratio of 3.95. Snap has a fifty-two week low of $7.08 and a fifty-two week high of $17.33. The firm has a 50-day simple moving average of $9.55 and a 200-day simple moving average of $10.68. The company has a market capitalization of $13.55 billion, a price-to-earnings ratio of -19.01 and a beta of 0.92.

Snap (NYSE:SNAP) last posted 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%. On average, equities research analysts anticipate that Snap will post -0.3 earnings per share for the current year.

Insider Activity

In other news, CAO Rebecca Morrow sold 8,837 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 value of $95,793.08. Following the completion of the transaction, the chief accounting officer now owns 429,892 shares of the company’s stock, valued at $4,660,029.28. The trade was a 2.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Derek Andersen sold 61,334 shares of the company’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 $664,860.56. Following the transaction, the chief financial officer now directly owns 3,564,235 shares in the company, valued at $38,636,307.40. The trade was a 1.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,356,523 shares of company stock worth $12,710,077 over the last three months. 22.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Snap

A number of hedge funds and other institutional investors have recently made changes to their positions in SNAP. Capital World Investors grew its holdings in Snap by 38.9% in the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company’s stock valued at $906,161,000 after purchasing an additional 23,569,522 shares during the period. SRS Investment Management LLC boosted its holdings in shares of Snap by 1.4% in the 4th quarter. SRS Investment Management LLC now owns 73,723,115 shares of the company’s stock valued at $793,998,000 after purchasing an additional 1,001,632 shares during the last quarter. Capital International Investors purchased a new stake in shares of Snap during the 4th quarter valued at $422,049,000. Geode Capital Management LLC increased its holdings in shares of Snap by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 11,831,472 shares of the company’s stock worth $127,078,000 after buying an additional 134,017 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Snap by 13.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,075,318 shares of the company’s stock worth $76,201,000 after buying an additional 828,285 shares during the period. 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.