Snap’s (SNAP) “Hold” Rating Reaffirmed at Deutsche Bank

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.

COPYRIGHT VIOLATION WARNING: This report was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://www.dispatchtribunal.com/2018/01/23/snaps-snap-hold-rating-reaffirmed-at-deutsche-bank.html.

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.

Analyst Recommendations for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply