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

Snap (NYSE:SNAP) had its price objective increased by UBS Group from $12.00 to $13.00 in a research report sent to investors on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

SNAP has been the subject of a number of other reports. Wells Fargo & Company dropped their price target on shares of Snap from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. HSBC cut shares of Snap from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Evercore ISI lifted their price objective on shares of Snap from $12.00 to $15.00 and gave the company an “in-line” rating in a research note on Wednesday. Benchmark reissued a “hold” rating on shares of Snap in a research note on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $14.00 price objective on shares of Snap in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, twenty-two have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $14.25.

Snap Trading Up 15.7 %

Shares of SNAP stock opened at $12.60 on Wednesday. The firm has a 50 day moving average price of $9.99 and a two-hundred day moving average price of $12.69. The company has a quick ratio of 3.98, a current ratio of 3.98 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $20.68 billion, a PE ratio of -15.56 and a beta of 1.01. Snap has a 12-month low of $8.29 and a 12-month high of $17.90.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. As a group, analysts predict that Snap will post -0.47 earnings per share for the current year.

Insider Activity

In other news, CAO Rebecca Morrow sold 8,923 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.10, for a total transaction of $81,199.30. Following the transaction, the chief accounting officer now owns 472,405 shares in the company, valued at approximately $4,298,885.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snap news, Director Elizabeth Jenkins sold 9,965 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.19, for a total value of $91,578.35. Following the completion of the sale, the director now directly owns 40,406 shares of the company’s stock, valued at approximately $371,331.14. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Rebecca Morrow sold 8,923 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.10, for a total transaction of $81,199.30. Following the completion of the sale, the chief accounting officer now owns 472,405 shares of the company’s stock, valued at approximately $4,298,885.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,490,617 shares of company stock worth $13,183,890. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Snap in the 3rd quarter valued at about $29,000. Paladin Wealth LLC purchased a new stake in Snap in the 3rd quarter valued at about $30,000. Hollencrest Capital Management purchased a new stake in Snap in the 2nd quarter valued at about $33,000. Blue Trust Inc. increased its stake in Snap by 354.1% in the 2nd quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock valued at $36,000 after buying an additional 1,682 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new stake in Snap in the 2nd quarter valued at about $40,000. 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.