Deutsche Bank Aktiengesellschaft Reiterates “Buy” Rating for Snap (NYSE:SNAP)

Deutsche Bank Aktiengesellschaft reaffirmed their buy rating on shares of Snap (NYSE:SNAP) in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a $14.00 price objective on the stock.

SNAP has been the subject of several other reports. JMP Securities reiterated a market perform rating on shares of Snap in a research note on Wednesday. Benchmark reaffirmed a hold rating on shares of Snap in a research report on Tuesday, August 6th. Citigroup dropped their price objective on shares of Snap from $16.00 to $11.00 and set a neutral rating on the stock in a research report on Monday, August 12th. Bank of America reduced their target price on shares of Snap from $16.00 to $13.00 and set a neutral rating for the company in a report on Friday, August 2nd. Finally, Morgan Stanley raised shares of Snap from an underweight rating to an equal weight rating and increased their price target for the company from $12.00 to $16.00 in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, twenty-four have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $13.76.

Snap Stock Performance

SNAP opened at $10.05 on Wednesday. Snap has a 52-week low of $8.28 and a 52-week high of $17.90. The firm has a market capitalization of $16.68 billion, a PE ratio of -12.41 and a beta of 1.00. The company has a debt-to-equity ratio of 1.74, a quick ratio of 3.98 and a current ratio of 3.98. The business’s 50-day simple moving average is $10.58 and its 200 day simple moving average is $12.82.

Snap (NYSE:SNAP) last released its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.25 billion. As a group, sell-side analysts expect that Snap will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Snap news, CFO Derek Andersen sold 97,608 shares of Snap stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the sale, the chief financial officer now directly owns 2,287,970 shares in the company, valued at $21,255,241.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, SVP Eric Young sold 114,097 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $9.11, for a total value of $1,039,423.67. Following the completion of the sale, the senior vice president now directly owns 3,041,723 shares of the company’s stock, valued at approximately $27,710,096.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Derek Andersen sold 97,608 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $9.29, for a total value of $906,778.32. Following the completion of the transaction, the chief financial officer now owns 2,287,970 shares in the company, valued at approximately $21,255,241.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,511,540 shares of company stock worth $13,569,906. Company insiders own 22.68% of the company’s stock.

Institutional Investors Weigh In On Snap

Several hedge funds and other institutional investors have recently modified their holdings of SNAP. Gryphon Financial Partners LLC acquired a new stake in Snap in the 4th quarter valued at $204,000. Dimensional Fund Advisors LP lifted its stake in shares of Snap by 19.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,184,684 shares of the company’s stock valued at $36,992,000 after buying an additional 351,837 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Snap by 12.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 40,341 shares of the company’s stock valued at $683,000 after buying an additional 4,307 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Snap during the fourth quarter valued at about $396,000. Finally, TCW Group Inc. bought a new stake in shares of Snap during the fourth quarter worth about $275,000. Institutional investors own 47.52% of the company’s stock.

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.