Snap (NYSE:SNAP)‘s stock had its “hold” rating reissued by Deutsche Bank in a research report issued to clients and investors on Monday, January 22nd. They presently have a $13.00 target price on the stock. Deutsche Bank’s price objective points to a potential downside of 33.54% from the stock’s previous close.
Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Snap from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Pivotal Research reiterated a “sell” rating and set a $10.00 target price on shares of Snap in a report on Wednesday, January 10th. Credit Suisse Group reduced their target price on Snap from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 8th. Barclays reduced their target price on Snap from $13.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 8th. Finally, Stifel Nicolaus downgraded Snap from a “buy” rating to a “hold” rating and reduced their target price for the stock from $18.00 to $13.00 in a report on Wednesday, November 8th. Fourteen research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. Snap has an average rating of “Hold” and an average target price of $18.25.
Snap (NYSE:SNAP) opened at $19.56 on Monday. Snap has a twelve month low of $11.28 and a twelve month high of $29.44. The company has a market capitalization of $23,560.00 and a PE ratio of -5.91.
In other Snap news, CEO Evan Spiegel sold 739,663 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $13.63, for a total value of $10,081,606.69. Following the completion of the sale, the chief executive officer now owns 85,744,509 shares in the company, valued at approximately $1,168,697,657.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mitchell Lasky sold 25,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $12.38, for a total value of $309,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,784,059 shares of company stock valued at $27,147,724 over the last 90 days.
A number of hedge funds have recently modified their holdings of the business. WFG Advisors LP increased its stake in Snap by 52.4% in the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after buying an additional 2,537 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Snap by 12.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 24,255 shares of the company’s stock worth $354,000 after buying an additional 2,675 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Snap by 22.9% during the 3rd quarter. Rhumbline Advisers now owns 22,900 shares of the company’s stock valued at $333,000 after purchasing an additional 4,260 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Snap by 30.7% during the 3rd quarter. IFP Advisors Inc now owns 20,605 shares of the company’s stock valued at $300,000 after purchasing an additional 4,838 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Snap by 41.2% during the 2nd quarter. Prudential Financial Inc. now owns 16,800 shares of the company’s stock valued at $299,000 after purchasing an additional 4,900 shares during the last quarter. Institutional investors and hedge funds own 18.98% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This report was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international trademark & copyright legislation. The legal version of this report can be viewed at https://www.dispatchtribunal.com/2018/02/15/snaps-snap-hold-rating-reaffirmed-at-deutsche-bank.html.
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.
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.