Deutsche Bank reaffirmed their hold rating on shares of Snap (NYSE:SNAP) in a research report report published on Monday. The firm currently has a $13.00 target price on the stock.
Other equities research analysts also recently issued research reports about the stock. Drexel Hamilton reaffirmed a buy rating and set a $30.00 price target on shares of Snap in a research note on Wednesday, October 4th. Royal Bank of Canada reaffirmed a buy rating and set a $20.00 price target on shares of Snap in a research note on Sunday, October 8th. Vetr downgraded shares of Snap from a strong-buy rating to a buy rating and set a $16.95 price target on the stock. in a research note on Monday, October 30th. Credit Suisse Group reaffirmed a buy rating and set a $18.00 price target on shares of Snap in a research note on Tuesday, January 9th. Finally, Zacks Investment Research raised shares of Snap from a hold rating to a buy rating and set a $16.00 price target on the stock in a research note on Wednesday, January 17th. Seventeen research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $17.23.
Shares of Snap (NYSE SNAP) traded up $0.13 during trading hours on Monday, hitting $14.17. 12,479,500 shares of the company were exchanged, compared to its average volume of 17,735,742. Snap has a 12-month low of $11.28 and a 12-month high of $29.44. The company has a market capitalization of $17,390.00 and a price-to-earnings ratio of -4.46.
Snap (NYSE:SNAP) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.17. The company had revenue of $207.90 million for the quarter, compared to the consensus estimate of $236.71 million. Snap had a negative net margin of 463.16% and a negative return on equity of 107.36%. The business’s revenue was up 62.2% on a year-over-year basis. analysts anticipate that Snap will post -3.01 EPS for the current fiscal year.
In other Snap news, CEO Evan Spiegel sold 1,652,966 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $12.42, for a total transaction of $20,529,837.72. Following the transaction, the chief executive officer now directly owns 86,657,812 shares in the company, valued at approximately $1,076,290,025.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mitchell Lasky sold 25,000 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $13.54, for a total transaction of $338,500.00. The disclosure for this sale can be found here. Insiders sold a total of 3,863,592 shares of company stock worth $51,137,869 in the last ninety days.
A number of institutional investors have recently modified their holdings of the business. Strs Ohio grew its holdings in Snap by 18.8% during the 4th quarter. Strs Ohio now owns 316,100 shares of the company’s stock worth $4,618,000 after acquiring an additional 49,940 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Snap by 967.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,005 shares of the company’s stock worth $116,000 after acquiring an additional 7,255 shares in the last quarter. Westpac Banking Corp grew its holdings in Snap by 42.0% during the 4th quarter. Westpac Banking Corp now owns 86,490 shares of the company’s stock worth $1,264,000 after acquiring an additional 25,600 shares in the last quarter. Hamilton Lane Advisors LLC grew its holdings in Snap by 10.6% during the 4th quarter. Hamilton Lane Advisors LLC now owns 890,342 shares of the company’s stock worth $13,008,000 after acquiring an additional 84,971 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Snap by 26.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 682,052 shares of the company’s stock worth $9,965,000 after acquiring an additional 142,544 shares in the last quarter. Institutional investors own 18.87% of the company’s stock.
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Snap Company Profile
Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.
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