Snap (NYSE:SNAP) Earns Buy Rating from Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft restated their buy rating on shares of Snap (NYSE:SNAP) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $14.00 target price on the stock.

A number of other research analysts also recently weighed in on SNAP. HSBC downgraded Snap from a buy rating to a hold rating in a research note on Friday, August 2nd. The Goldman Sachs Group cut their price objective on Snap from $16.00 to $12.00 and set a neutral rating on the stock in a research note on Friday, August 2nd. Benchmark reissued a hold rating on shares of Snap in a research note on Tuesday, August 6th. Cantor Fitzgerald began coverage on Snap in a research note on Thursday, September 5th. They issued a neutral rating and a $8.00 price objective on the stock. Finally, JMP Securities reissued a market perform rating on shares of Snap in a research note on Wednesday. One analyst has rated the stock with a sell rating, twenty-four have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Snap currently has a consensus rating of Hold and an average price target of $13.76.

Snap Stock Down 0.2 %

SNAP opened at $10.05 on Wednesday. Snap has a fifty-two week low of $8.28 and a fifty-two week high of $17.90. The business has a 50-day moving average of $10.58 and a 200-day moving average of $12.82. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98. The company has a market capitalization of $16.68 billion, a PE ratio of -12.41 and a beta of 1.00.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.02. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.25 billion. Equities research analysts forecast that Snap will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling at Snap

In other Snap news, CAO Rebecca Morrow sold 8,923 shares of Snap stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.10, for a total value of $81,199.30. Following the completion of the transaction, the chief accounting officer now owns 472,405 shares in the company, valued at approximately $4,298,885.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $16.56, for a total transaction of $298,080.00. Following the completion of the sale, the general counsel now owns 481,908 shares in the company, valued at $7,980,396.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Rebecca Morrow sold 8,923 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $9.10, for a total value of $81,199.30. Following the sale, the chief accounting officer now owns 472,405 shares of the company’s stock, valued at approximately $4,298,885.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,511,540 shares of company stock worth $13,569,906. 22.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNAP. Gryphon Financial Partners LLC acquired a new position in Snap in the fourth quarter valued at about $204,000. Dimensional Fund Advisors LP boosted its position in shares of Snap by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,184,684 shares of the company’s stock worth $36,992,000 after buying an additional 351,837 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Snap by 12.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock worth $683,000 after buying an additional 4,307 shares during the period. Aigen Investment Management LP acquired a new position in shares of Snap during the fourth quarter worth about $396,000. Finally, TCW Group Inc. acquired a new position in shares of Snap during the fourth quarter worth about $275,000. 47.52% of the stock is owned by institutional investors and hedge funds.

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.