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

Snap (NYSE:SNAP - Get Free Report) had its price target lowered by UBS Group from $14.00 to $9.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. UBS Group's price objective points to a potential upside of 14.07% from the stock's previous close.

A number of other analysts have also issued reports on the stock. Piper Sandler dropped their price target on shares of Snap from $13.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday. Barclays restated an "overweight" rating on shares of Snap in a research note on Wednesday, February 5th. Citigroup lifted their price target on Snap from $13.00 to $13.50 and gave the stock a "neutral" rating in a research note on Wednesday, February 5th. Susquehanna upped their price objective on Snap from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company decreased their target price on Snap from $11.00 to $9.00 and set an "equal weight" rating for the company in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $36.00.

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Snap Stock Down 0.9 %

SNAP stock traded down $0.07 during trading on Friday, reaching $7.89. The stock had a trading volume of 26,039,885 shares, compared to its average volume of 28,186,096. The company has a current ratio of 3.95, a quick ratio of 3.95 and a debt-to-equity ratio of 1.47. The firm has a fifty day moving average price of $9.43 and a 200 day moving average price of $10.65. The company has a market capitalization of $13.38 billion, a P/E ratio of -18.79 and a beta of 0.92. Snap has a 1-year low of $7.08 and a 1-year high of $17.33.

Snap (NYSE:SNAP - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.01 EPS for the quarter, missing the consensus estimate 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 analysts anticipate that Snap will post -0.3 earnings per share for the current year.

Insider Activity

In related news, CAO Rebecca Morrow sold 8,837 shares of the firm'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 $95,793.08. Following the completion of the sale, the chief accounting officer now directly owns 429,892 shares in the company, valued at approximately $4,660,029.28. This trade represents a 2.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Michael J. O'sullivan sold 14,183 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $8.83, for a total value of $125,235.89. Following the completion of the transaction, the general counsel now directly owns 2,256,101 shares in the company, valued at $19,921,371.83. This represents a 0.62 % decrease in their position. 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 over the last 90 days. 22.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently modified their holdings of SNAP. Capital World Investors lifted its stake in Snap by 38.9% during the fourth quarter. Capital World Investors now owns 84,137,317 shares of the company's stock valued at $906,161,000 after buying an additional 23,569,522 shares in the last quarter. SRS Investment Management LLC lifted its position 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 acquiring an additional 1,001,632 shares in the last quarter. Capital International Investors acquired a new position in Snap in the 4th quarter worth approximately $422,049,000. Geode Capital Management LLC grew its position in 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 purchasing an additional 134,017 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Snap by 13.3% during 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 valued at $76,201,000 after purchasing an additional 828,285 shares during the period. 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.