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

Snap (NYSE:SNAP)‘s stock had its “buy” rating reaffirmed by research analysts at Deutsche Bank Aktiengesellschaft in a report released on Wednesday, Benzinga reports. They currently have a $14.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 45.38% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Hsbc Global Res downgraded shares of Snap from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 2nd. Bank of America reduced their price objective on Snap from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Truist Financial decreased their price objective on shares of Snap from $16.00 to $13.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Citigroup cut their target price on shares of Snap from $16.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Finally, Argus upgraded shares of Snap to a “hold” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, twenty-three have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.87.

Snap Price Performance

NYSE:SNAP traded up $0.21 during trading hours on Wednesday, reaching $9.63. 12,930,370 shares of the company traded hands, compared to its average volume of 27,336,648. 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 firm’s 50-day moving average is $10.97 and its 200-day moving average is $12.85. The stock has a market cap of $15.80 billion, a P/E ratio of -11.89 and a beta of 1.01. Snap has a 1-year low of $8.28 and a 1-year high of $17.90.

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

Insider Buying and Selling at Snap

In other news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $9.30, for a total value of $167,400.00. Following the transaction, the general counsel now directly owns 456,662 shares in the company, valued at approximately $4,246,956.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Snap news, CAO Rebecca Morrow sold 8,923 shares of the 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 directly owns 472,405 shares of the company’s stock, valued at $4,298,885.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Michael J. O’sullivan sold 18,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $9.30, for a total transaction of $167,400.00. Following the transaction, the general counsel now directly owns 456,662 shares of the company’s stock, valued at approximately $4,246,956.60. The disclosure for this sale can be found here. Insiders sold a total of 1,352,420 shares of company stock worth $12,091,682 over the last 90 days. Insiders own 22.68% of the company’s stock.

Institutional Trading of Snap

Hedge funds have recently bought and sold shares of the company. Gryphon Financial Partners LLC bought a new stake in shares of Snap during the fourth quarter valued at approximately $204,000. Dimensional Fund Advisors LP boosted its position in Snap by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,184,684 shares of the company’s stock worth $36,992,000 after acquiring an additional 351,837 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Snap by 12.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock worth $683,000 after acquiring an additional 4,307 shares during the period. Aigen Investment Management LP bought a new position in shares of Snap in the fourth quarter worth $396,000. Finally, TCW Group Inc. acquired a new position in shares of Snap during the fourth quarter valued at $275,000. 47.52% of the stock is currently owned by institutional investors.

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.