Snap (SNAP) Receives “Hold” Rating from Deutsche Bank

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.

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About Snap

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)

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