Snap (NYSE:SNAP) Given Buy Rating at Deutsche Bank Aktiengesellschaft

Snap (NYSE:SNAP - Get Free Report)'s stock had its "buy" rating reiterated by Deutsche Bank Aktiengesellschaft in a research report issued on Wednesday, Benzinga reports. They currently have a $14.00 target price on the stock. Deutsche Bank Aktiengesellschaft's target price would suggest a potential upside of 44.78% from the stock's previous close.

A number of other research firms have also recently commented on SNAP. Susquehanna lowered their price target on shares of Snap from $15.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. Argus raised shares of Snap to a "hold" rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on shares of Snap from $13.00 to $11.00 and set an "underweight" rating on the stock in a report on Friday, August 2nd. Barclays lowered their price target on shares of Snap from $17.00 to $16.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. Finally, The Goldman Sachs Group lowered their price target on shares of Snap from $16.00 to $12.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $13.87.

Snap Stock Performance

Shares of NYSE SNAP traded up $0.25 during midday trading on Wednesday, reaching $9.67. The company's stock had a trading volume of 32,502,632 shares, compared to its average volume of 27,445,320. Snap has a 12-month low of $8.28 and a 12-month high of $17.90. The firm has a 50 day moving average price of $10.97 and a 200-day moving average price of $12.85. The stock has a market capitalization of $15.87 billion, a P/E ratio of -11.89 and a beta of 1.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 3.98 and a quick ratio of 3.98.

Snap (NYSE:SNAP - Get Free Report) last announced its earnings results 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. Snap had a negative return on equity of 42.84% and a negative net margin of 23.49%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.25 billion. As a group, equities analysts predict that Snap will post -0.48 earnings per share for the current year.

Insider Buying and Selling at Snap

In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now directly owns 58,553,813 shares of the company's stock, valued at approximately $508,832,634.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CTO Robert C. Murphy sold 1,000,000 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.69, for a total transaction of $8,690,000.00. Following the transaction, the chief technology officer now directly owns 58,553,813 shares of the company's stock, valued at approximately $508,832,634.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Rebecca Morrow sold 8,923 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $9.10, for a total value of $81,199.30. Following the transaction, the chief accounting officer now directly owns 472,405 shares in the company, valued at $4,298,885.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,352,420 shares of company stock valued at $12,091,682 in the last 90 days. Corporate insiders own 22.68% of the company's stock.

Hedge Funds Weigh In On Snap

Several institutional investors and hedge funds have recently bought and sold shares of SNAP. Gryphon Financial Partners LLC bought a new position in Snap during the 4th quarter worth approximately $204,000. Dimensional Fund Advisors LP grew its position in Snap by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,184,684 shares of the company's stock worth $36,992,000 after acquiring an additional 351,837 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Snap by 12.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company's stock worth $683,000 after buying an additional 4,307 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Snap in the 4th quarter worth approximately $396,000. Finally, TCW Group Inc. bought a new stake in shares of Snap in the 4th quarter worth approximately $275,000. 47.52% of the stock is currently owned by institutional investors.

Snap Company Profile

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.