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

Snap (NYSE:SNAP - Get Free Report) had its target price decreased by stock analysts at UBS Group from $14.00 to $13.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. UBS Group's price target indicates a potential upside of 24.82% from the company's current price.

Several other equities analysts have also recently commented on the stock. BMO Capital Markets dropped their target price on shares of Snap from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 7th. Stifel Nicolaus decreased their target price on Snap from $14.00 to $12.00 and set a "hold" rating for the company in a research report on Tuesday. Roth Mkm boosted their price target on shares of Snap from $10.00 to $14.00 and gave the stock a "neutral" rating in a report on Friday, January 26th. Rosenblatt Securities increased their price target on shares of Snap from $11.00 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group dropped their target price on shares of Snap from $15.00 to $13.50 and set a "neutral" rating on the stock in a research note on Thursday, February 8th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $13.65.

Snap Trading Up 0.7 %

NYSE SNAP traded up $0.07 on Tuesday, reaching $10.42. The company had a trading volume of 24,205,964 shares, compared to its average volume of 29,048,719. The firm has a market cap of $17.19 billion, a price-to-earnings ratio of -12.45 and a beta of 1.13. Snap has a fifty-two week low of $7.86 and a fifty-two week high of $17.90. The business has a 50 day moving average of $11.35 and a two-hundred day moving average of $12.72. 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 (NYSE:SNAP - Get Free Report) last posted its quarterly earnings data 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. Snap had a negative net margin of 28.71% and a negative return on equity of 47.47%. The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.39 billion. Analysts forecast that Snap will post -0.58 EPS for the current year.

Insider Activity at Snap

In related news, CAO Rebecca Morrow sold 9,386 shares of Snap stock in a transaction on Friday, February 16th. The stock was sold at an average price of $11.14, for a total value of $104,560.04. Following the completion of the sale, the chief accounting officer now owns 495,526 shares of the company's stock, valued at $5,520,159.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Rebecca Morrow sold 9,386 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $11.14, for a total value of $104,560.04. Following the transaction, the chief accounting officer now owns 495,526 shares in the company, valued at approximately $5,520,159.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Young sold 120,472 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $11.13, for a total transaction of $1,340,853.36. Following the sale, the senior vice president now directly owns 3,540,852 shares of the company's stock, valued at $39,409,682.76. The disclosure for this sale can be found here. Insiders have sold a total of 470,054 shares of company stock worth $5,279,729 over the last quarter.

Hedge Funds Weigh In On Snap

A number of hedge funds and other institutional investors have recently modified their holdings of SNAP. TB Alternative Assets Ltd. lifted its holdings in shares of Snap by 144.5% in the 1st quarter. TB Alternative Assets Ltd. now owns 5,094,800 shares of the company's stock worth $58,488,000 after acquiring an additional 3,011,400 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. purchased 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 purchased a new stake in shares of Snap in the first quarter worth approximately $273,000. Finally, Campbell Capital Management Inc. bought a new stake in shares of Snap during the 1st quarter worth 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.