Snap (NYSE:SNAP) Price Target Cut to $13.00

Snap (NYSE:SNAP) had its price objective trimmed by UBS Group from $14.00 to $13.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other equities research analysts also recently weighed in on SNAP. Royal Bank of Canada reduced their price target on Snap from $17.00 to $13.00 and set a sector perform rating on the stock in a report on Wednesday, February 7th. Susquehanna increased their price target on Snap from $9.50 to $12.00 and gave the stock a neutral rating in a report on Wednesday, February 7th. Wells Fargo & Company reduced 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. Stifel Nicolaus reduced their price target on Snap from $14.00 to $12.00 and set a hold rating on the stock in a report on Tuesday. Finally, Roth Mkm increased their price target on Snap from $10.00 to $14.00 and gave the stock a neutral rating in a report on Friday, January 26th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snap presently has a consensus rating of Hold and an average price target of $13.65.

Snap Trading Up 0.7 %

Shares of SNAP stock opened at $10.42 on Tuesday. Snap has a 1 year low of $7.86 and a 1 year high of $17.90. The company has a debt-to-equity ratio of 1.55, a current ratio of 4.39 and a quick ratio of 4.39. The stock’s 50 day simple moving average is $11.20 and its two-hundred day simple moving average is $12.73. The company has a market cap of $17.19 billion, a PE ratio of -12.55 and a beta of 1.13.

Snap (NYSE:SNAP) last issued 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. Snap had a negative return on equity of 47.47% and a negative net margin of 28.71%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.39 billion. Research analysts predict that Snap will post -0.58 earnings per share for the current year.

Insider Buying and Selling at Snap

In other Snap news, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $16.16, for a total transaction of $210,080.00. Following the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Evan Spiegel sold 150,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $11.11, for a total transaction of $1,666,500.00. Following the completion of the sale, the chief executive officer now owns 3,627,844 shares in the company, valued at approximately $40,305,346.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Michael J. O’sullivan sold 13,000 shares of the stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $16.16, for a total value of $210,080.00. Following the sale, the general counsel now owns 461,005 shares of the company’s stock, valued at approximately $7,449,840.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 470,054 shares of company stock valued at $5,279,729.

Institutional Trading of Snap

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