On February 1, 2023, UBS downgraded their outlook for Snapchat from Buy to Neutral.
Analyst Price Forecast Suggests 2.38% Upside
As of February 1, 2023, the average one-year price target for Snapchat is $11.83. The forecasts range from a low of $7.07 to a high of $44.10. The average price target represents an increase of 2.38% from its latest reported closing price of $11.56.
The projected annual revenue for Snapchat is $5,131MM, an increase of 11.54%. The projected annual EPS is $0.37.
What are large shareholders doing?
FBGRX - Fidelity Blue Chip Growth Fund holds 47,206,472 shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 23,165,555 shares, representing an increase of 50.93%. The firm increased its portfolio allocation in SNAP by 130.73% over the last quarter.
EGFIX - Edgewood Growth Fund Institutional Class Shares holds 41,305,127 shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 43,525,296 shares, representing a decrease of 5.38%. The firm decreased its portfolio allocation in SNAP by 50.12% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 31,165,028 shares representing 1.93% ownership of the company. In it's prior filing, the firm reported owning 30,498,833 shares, representing an increase of 2.14%. The firm decreased its portfolio allocation in SNAP by 20.34% over the last quarter.
Goldman Sachs Group holds 27,837,070 shares representing 1.73% ownership of the company. In it's prior filing, the firm reported owning 21,594,085 shares, representing an increase of 22.43%. The firm decreased its portfolio allocation in SNAP by 1.36% over the last quarter.
TRBCX - T. Rowe Price Blue Chip Growth Fund holds 25,060,940 shares representing 1.55% ownership of the company. In it's prior filing, the firm reported owning 25,717,133 shares, representing a decrease of 2.62%. The firm decreased its portfolio allocation in SNAP by 51.01% over the last quarter.
Fund Sentiment
There are 1019 funds or institutions reporting positions in Snapchat. This is a decrease of 137 owner(s) or 11.85%.
Average portfolio weight of all funds dedicated to US:SNAP is 0.2302%, a decrease of 11.4979%. Total shares owned by institutions decreased in the last three months by 20.02% to 836,190K shares.
Snap Background Information
(This description is provided by the company.)
Snap Inc. is a camera company. Snap believes that reinventing the camera represents its greatest opportunity to improve the way people live and communicate. The company contributes to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
