UBS Group cut shares of Snap (NYSE:SNAP) from a market perform rating to an underperform rating in a report published on Friday, The Fly reports.

Several other research firms also recently issued reports on SNAP. Vetr upgraded Snap from a strong sell rating to a hold rating and set a $16.13 price target for the company in a research note on Friday, October 13th. Zacks Investment Research downgraded Snap from a hold rating to a sell rating in a research note on Wednesday, October 18th. Drexel Hamilton restated a buy rating and issued a $28.00 price target on shares of Snap in a research note on Friday, December 15th. SunTrust Banks restated a sell rating and issued a $10.00 price target on shares of Snap in a research note on Thursday, October 12th. Finally, Cowen downgraded Snap from a market perform rating to an underperform rating and reduced their price target for the company from $12.00 to $11.00 in a research note on Thursday, January 4th. Eighteen analysts have rated the stock with a sell rating, nineteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $17.21.

Shares of Snap (NYSE:SNAP) opened at $14.11 on Friday. Snap has a one year low of $11.28 and a one year high of $29.44.

Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.17. The business had revenue of $207.90 million during the quarter, compared to the consensus estimate of $236.71 million. Snap had a negative return on equity of 107.36% and a negative net margin of 463.16%. The firm’s revenue for the quarter was up 62.2% compared to the same quarter last year. research analysts forecast that Snap will post -3.04 EPS for the current fiscal year.

In other news, CFO Andrew Vollero sold 70,566 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $16.09, for a total transaction of $1,135,406.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mitchell Lasky sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $14.11, for a total value of $352,750.00. The disclosure for this sale can be found here. Insiders have sold a total of 3,815,711 shares of company stock valued at $50,490,018 in the last three months.

A number of institutional investors and hedge funds have recently modified their holdings of SNAP. First Manhattan Co. increased its holdings in Snap by 384.5% in the 3rd quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock worth $110,000 after purchasing an additional 6,056 shares in the last quarter. WFG Advisors LP increased its holdings in Snap by 52.4% in the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after purchasing an additional 2,537 shares in the last quarter. Nelson Roberts Investment Advisors LLC increased its holdings in Snap by 10,033.0% in the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 10,133 shares of the company’s stock worth $147,000 after purchasing an additional 10,033 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in Snap in the 2nd quarter worth about $148,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Snap by 9,588.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 9,688 shares of the company’s stock worth $172,000 after purchasing an additional 9,588 shares in the last quarter. 18.88% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This news story was posted by Watch List News and is owned by of Watch List News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright & trademark laws. The correct version of this news story can be viewed at https://www.watchlistnews.com/snap-snap-rating-lowered-to-underperform-at-ubs-group/1809053.html.

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.

The Fly

Analyst Recommendations for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with Analyst Ratings Network's FREE daily email newsletter.