Snap (SNAP) Downgraded to Neutral at UBS Group

UBS Group cut shares of Snap (NYSE:SNAP) to a neutral rating in a research report report published on Wednesday, The Fly reports.

Other equities analysts have also recently issued reports about the company. Vetr cut Snap from a strong-buy rating to a buy rating and set a $16.95 target price for the company. in a report on Monday, October 30th. Drexel Hamilton reissued a buy rating and issued a $28.00 target price on shares of Snap in a report on Friday, December 15th. Credit Suisse Group reissued a buy rating and issued a $18.00 target price on shares of Snap in a report on Tuesday, January 9th. Zacks Investment Research raised Snap from a hold rating to a buy rating and set a $16.00 target price for the company in a report on Wednesday, January 17th. Finally, Barclays dropped their target price on Snap from $13.00 to $11.00 and set an equal weight rating for the company in a report on Wednesday, November 8th. Fourteen investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have assigned a buy rating to the company. Snap has an average rating of Hold and an average price target of $18.25.

Snap (NYSE:SNAP) opened at $20.75 on Wednesday. Snap has a twelve month low of $11.28 and a twelve month high of $29.44. The stock has a market capitalization of $24,990.00 and a P/E ratio of -6.53.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.17. Snap had a negative return on equity of 97.08% and a negative net margin of 417.61%. The business had revenue of $207.90 million during the quarter, compared to analysts’ expectations of $236.71 million. The firm’s revenue was up 62.2% on a year-over-year basis. equities research analysts anticipate that Snap will post -1.09 EPS for the current year.

In other news, CFO Andrew Vollero sold 70,566 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $16.09, for a total value of $1,135,406.94. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mitchell Lasky sold 25,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $13.98, for a total value of $349,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,885,626 shares of company stock worth $25,814,031 over the last 90 days.

Several large investors have recently bought and sold shares of the company. Segantii Capital Management Ltd bought a new position in shares of Snap in the 4th quarter worth $1,826,000. River & Mercantile Asset Management LLP raised its stake in Snap by 23.5% during the 4th quarter. River & Mercantile Asset Management LLP now owns 299,930 shares of the company’s stock worth $4,383,000 after buying an additional 57,000 shares during the period. California Public Employees Retirement System raised its stake in Snap by 446.9% during the 4th quarter. California Public Employees Retirement System now owns 592,824 shares of the company’s stock worth $8,661,000 after buying an additional 484,424 shares during the period. Alps Advisors Inc. acquired a new stake in Snap during the 4th quarter worth $207,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in Snap during the 4th quarter worth $314,000. Institutional investors and hedge funds own 18.97% of the company’s stock.

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Snap Company Profile

Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.

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