Snap (NYSE:SNAP) PT Lowered to $13.00

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

Several other research firms have also recently issued reports on SNAP. Piper Sandler raised their price target on Snap from $12.00 to $17.00 and gave the company a neutral rating in a report on Wednesday, January 17th. Morgan Stanley decreased their price target on Snap from $13.00 to $11.00 and set an underweight rating on the stock in a report on Wednesday, February 7th. The Goldman Sachs Group decreased their price target on Snap from $15.00 to $13.50 and set a neutral rating on the stock in a report on Thursday, February 8th. Wells Fargo & Company decreased their price target on Snap from $22.00 to $16.00 and set an overweight rating on the stock in a report on Wednesday, February 7th. Finally, BMO Capital Markets cut their target price on Snap from $22.00 to $20.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, Snap presently has an average rating of Hold and a consensus target price of $13.86.

Snap Price Performance

Snap stock opened at $11.63 on Tuesday. The company has a debt-to-equity ratio of 1.55, a quick ratio of 4.39 and a current ratio of 4.39. The firm has a market cap of $19.20 billion, a P/E ratio of -14.01 and a beta of 1.13. The business’s fifty day moving average is $11.21 and its two-hundred day moving average is $12.71. Snap has a 52 week low of $7.86 and a 52 week high of $17.90.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, February 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.04. The business had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. Equities research analysts forecast that Snap will post -0.58 earnings per share for the current fiscal year.

Insider Transactions at Snap

In other news, CAO Rebecca Morrow sold 9,386 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $11.14, for a total transaction of $104,560.04. Following the sale, the chief accounting officer now owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, General Counsel Michael J. O’sullivan sold 18,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $11.53, for a total transaction of $207,540.00. Following the completion of the transaction, the general counsel now directly owns 474,812 shares in the company, valued at $5,474,582.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Rebecca Morrow sold 9,386 shares of the firm’s 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 completion of the transaction, the chief accounting officer now owns 495,526 shares of the company’s stock, valued at $5,520,159.64. The disclosure for this sale can be found here. Insiders have sold a total of 470,482 shares of company stock valued at $5,284,091 over the last 90 days. 22.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. NBC Securities Inc. lifted its holdings in Snap by 2,580.4% during the 4th quarter. NBC Securities Inc. now owns 1,501 shares of the company’s stock worth $25,000 after purchasing an additional 1,445 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in Snap during the 4th quarter worth approximately $29,000. Newbridge Financial Services Group Inc. lifted its holdings in Snap by 75.0% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 3,500 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares during the last quarter. Allworth Financial LP lifted its holdings in Snap by 161.6% during the 4th quarter. Allworth Financial LP now owns 2,765 shares of the company’s stock worth $47,000 after purchasing an additional 1,708 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Snap by 365.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,941 shares of the company’s stock worth $47,000 after purchasing an additional 3,094 shares during the last quarter. 47.52% of the stock is currently owned by institutional investors.

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.