Snap’s (SNAP) “Buy” Rating Reiterated at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reissued their buy rating on shares of Snap (NYSE:SNAP) in a research note published on Wednesday morning, Benzinga reports. They currently have a $14.00 price objective on the stock.

SNAP has been the subject of several other reports. Cantor Fitzgerald assumed coverage on Snap in a research report on Thursday, September 5th. They set a neutral rating and a $8.00 price objective for the company. Argus upgraded Snap to a hold rating in a research report on Thursday, August 8th. Morgan Stanley raised Snap from an underweight rating to an equal weight rating and raised their price target for the company from $12.00 to $16.00 in a report on Tuesday, July 23rd. HSBC downgraded shares of Snap from a buy rating to a hold rating in a report on Friday, August 2nd. Finally, Roth Mkm reissued a neutral rating and set a $14.00 target price on shares of Snap in a research note on Wednesday. One analyst has rated the stock with a sell rating, twenty-four have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $13.76.

Snap Stock Performance

SNAP stock opened at $10.06 on Wednesday. Snap has a 1 year low of $8.28 and a 1 year high of $17.90. The stock has a market capitalization of $16.69 billion, a price-to-earnings ratio of -12.42 and a beta of 1.00. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The stock’s fifty day moving average is $10.58 and its two-hundred day moving average is $12.81.

Snap (NYSE:SNAP) last released its quarterly earnings data 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. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Snap had a negative net margin of 23.49% and a negative return on equity of 42.84%. On average, research analysts predict that Snap will post -0.48 EPS for the current year.

Insider Activity at Snap

In other Snap news, CFO Derek Andersen sold 97,608 shares of Snap stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $9.29, for a total transaction of $906,778.32. Following the transaction, the chief financial officer now directly owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Snap news, General Counsel Michael J. O’sullivan sold 18,000 shares of the firm’s stock in a transaction dated 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 directly owns 481,908 shares in the company, valued at approximately $7,980,396.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Derek Andersen sold 97,608 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the transaction, the chief financial officer now owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,511,540 shares of company stock worth $13,569,906. 22.68% of the stock is owned by corporate insiders.

Institutional Trading of Snap

Several institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management purchased a new stake in Snap in the 2nd quarter worth approximately $33,000. Blue Trust Inc. increased its stake in shares of Snap by 354.1% in the second quarter. Blue Trust Inc. now owns 2,157 shares of the company’s stock worth $36,000 after acquiring an additional 1,682 shares during the last quarter. Rothschild Investment LLC purchased a new stake in shares of Snap during the second quarter worth $40,000. J.Safra Asset Management Corp boosted its position in Snap by 534.4% during the second quarter. J.Safra Asset Management Corp now owns 2,766 shares of the company’s stock valued at $46,000 after purchasing an additional 2,330 shares during the last quarter. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in Snap in the first quarter valued at about $100,000. 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.