Snap (NYSE:SNAP) Stock Rating Reaffirmed by Deutsche Bank Aktiengesellschaft

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

A number of other brokerages have also recently weighed in on SNAP. Barclays reduced their price objective on shares of Snap from $17.00 to $16.00 and set an overweight rating for the company in a research note on Friday, August 2nd. Wolfe Research assumed coverage on shares of Snap in a report on Tuesday, July 16th. They set a peer perform rating for the company. Benchmark reiterated a hold rating on shares of Snap in a research note on Tuesday, August 6th. HSBC downgraded Snap from a buy rating to a hold rating in a research note on Friday, August 2nd. Finally, Citigroup cut their price target on Snap from $16.00 to $11.00 and set a neutral rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $13.76.

Snap Trading Down 0.1 %

Shares of NYSE:SNAP opened at $10.06 on Wednesday. The company has a current ratio of 3.98, a quick ratio of 3.98 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $16.69 billion, a PE ratio of -12.42 and a beta of 1.00. Snap has a 1 year low of $8.28 and a 1 year high of $17.90. The firm has a fifty day moving average price of $10.58 and a 200 day moving average price of $12.81.

Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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. Analysts expect that Snap will post -0.48 EPS for the current fiscal year.

Insider Buying and Selling

In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $16.56, for a total value of $298,080.00. Following the transaction, the general counsel now directly owns 481,908 shares in the company, valued at $7,980,396.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Snap 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 value of $298,080.00. Following the transaction, the general counsel now owns 481,908 shares of the company’s stock, valued at $7,980,396.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Robert C. Murphy sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.69, for a total value of $8,690,000.00. Following the completion of the sale, the chief technology officer now owns 58,553,813 shares of the company’s stock, valued at $508,832,634.97. The disclosure for this sale can be found here. Insiders sold 1,511,540 shares of company stock worth $13,569,906 in the last quarter. 22.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snap

A number of large investors have recently modified their holdings of SNAP. Vanguard Group Inc. increased its holdings in shares of Snap by 0.9% in the first quarter. Vanguard Group Inc. now owns 96,148,590 shares of the company’s stock valued at $1,103,786,000 after purchasing an additional 830,889 shares in the last quarter. SRS Investment Management LLC boosted its position in Snap by 23.6% in the 4th quarter. SRS Investment Management LLC now owns 65,114,732 shares of the company’s stock valued at $1,102,392,000 after buying an additional 12,452,415 shares during the last quarter. Capital World Investors raised its position in shares of Snap by 0.8% during the first quarter. Capital World Investors now owns 46,272,273 shares of the company’s stock worth $531,206,000 after acquiring an additional 385,191 shares during the last quarter. Marshall Wace LLP raised its position in shares of Snap by 587.3% during the second quarter. Marshall Wace LLP now owns 14,667,597 shares of the company’s stock worth $243,629,000 after acquiring an additional 12,533,653 shares during the last quarter. Finally, Ossiam lifted its stake in shares of Snap by 7.1% during the first quarter. Ossiam now owns 11,334,804 shares of the company’s stock valued at $130,124,000 after acquiring an additional 751,846 shares during the period. 47.52% of the stock is currently owned by institutional investors and hedge funds.

About Snap

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.