Snap (NYSE:SNAP) Given New $6.00 Price Target at UBS Group

Snap (NYSE:SNAP) had its target price reduced by equities research analysts at UBS Group from $7.00 to $6.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group‘s price objective would indicate a potential upside of 18.27% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Truist Financial lowered their target price on shares of Snap from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, August 4th. Mizuho raised their price target on shares of Snap from $5.00 to $6.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Barclays decreased their price target on shares of Snap from $16.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday. Rosenblatt Securities decreased their price target on shares of Snap from $6.40 to $6.00 and set a “neutral” rating for the company in a report on Tuesday, August 4th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Snap in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, twenty-three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Snap presently has a consensus rating of “Hold” and an average target price of $7.33.

Snap Trading Down 14.3%

Shares of SNAP opened at $5.07 on Thursday. Snap has a 52 week low of $3.81 and a 52 week high of $9.13. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 1.75. The stock has a 50 day moving average of $5.75 and a 200-day moving average of $5.41.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.03 earnings per share (EPS) for the quarter. Snap had a negative return on equity of 7.21% and a negative net margin of 2.30%. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same period in the prior year, the company posted ($0.06) EPS. The business’s revenue was up 14.3% compared to the same quarter last year. As a group, sell-side analysts expect that Snap will post -0.03 EPS for the current year.

Insider Buying and Selling

In related news, insider Ajit Mohan sold 6,797 shares of the company’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $5.82, for a total transaction of $39,558.54. Following the completion of the transaction, the insider directly owned 4,965,300 shares in the company, valued at $28,898,046. This represents a 0.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Douglas Hott sold 131,884 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.20, for a total value of $685,796.80. Following the completion of the sale, the chief financial officer directly owned 2,324,563 shares in the company, valued at $12,087,727.60. This represents a 5.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 445,926 shares of company stock worth $2,326,930. Company insiders own 22.68% of the company’s stock.

Hedge Funds Weigh In On Snap

Institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. increased its holdings in shares of Snap by 278.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 14,771,533 shares of the company’s stock worth $79,766,000 after acquiring an additional 10,868,392 shares during the period. Empyrean Capital Partners LP bought a new stake in Snap in the 1st quarter valued at about $25,300,000. Saba Capital Management L.P. lifted its position in Snap by 232.5% in the 1st quarter. Saba Capital Management L.P. now owns 4,727,808 shares of the company’s stock valued at $21,748,000 after purchasing an additional 3,306,024 shares during the last quarter. Riposte Capital LLC acquired a new position in Snap during the 1st quarter valued at about $5,520,000. Finally, CenterBook Partners LP boosted its stake in Snap by 175.4% during the 3rd quarter. CenterBook Partners LP now owns 1,197,958 shares of the company’s stock valued at $6,469,000 after purchasing an additional 762,979 shares during the period. Institutional investors own 47.52% of the company’s stock.

More Snap News

Here are the key news stories impacting Snap this week:

• Positive Sentiment: Snapchat+ surpassed 30 million paid subscribers, up 5 million since February, adding evidence of growing subscription revenue beyond advertising. Snapchat surpasses 30M paid subscribers
• Positive Sentiment: Snap returned to net profitability, and some reports said adjusted earnings beat expectations. Fourth-quarter revenue guidance was $1.95 billion to $1.99 billion. Snap shares fall over 10% on third-quarter earnings miss
• Neutral Sentiment: Call-option trading was unusually active, with volume about 51% above typical levels. This may indicate bullish positioning, but options activity alone does not establish the market’s direction. Traders Purchase High Volume of Call Options on Snap
• Neutral Sentiment: Barclays cut its price target from $16 to $8 but kept an “overweight” rating, signaling a more cautious outlook while still seeing potential upside. Barclays recommendations
• Negative Sentiment: Third-quarter revenue of $1.72 billion missed estimates, and daily active users also fell short of forecasts. The results raised concerns about the pace of advertising recovery; revenue was up 14% year over year but the shortfall drove the selloff. Snap shares fall as revenue and daily users miss estimates
• Negative Sentiment: JPMorgan lowered its target from $6 to $5 and assigned an “underweight” rating; Cantor Fitzgerald also cut its target to $5, with a “neutral” rating. Snap price target lowered

About Snap

Snap Inc is a technology and social media company best known for Snapchat, a visual messaging and social networking application. Snapchat enables users to communicate through photos, videos, messages and Stories, while offering creative tools such as augmented reality (AR) Lenses and filters. The platform also includes features such as Snap Map, Spotlight and content from publishers and creators.

Snap generates most of its revenue from digital advertising, including video, augmented reality and other advertising formats delivered across Snapchat.