Snap Inc. (SNAP) Stock Rating Lowered by Deutsche Bank AG

Snap Inc. (NYSE:SNAP) was downgraded by equities researchers at Deutsche Bank AG from a “buy” rating to a “hold” rating in a research report issued on Monday. They currently have a $17.00 price objective on the stock, down from their prior price objective of $20.00. Deutsche Bank AG’s price target would suggest a potential upside of 12.36% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Snap in a report on Tuesday, July 11th. CIBC reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Snap in a report on Monday, June 12th. Stifel Nicolaus downgraded Snap from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a report on Friday, July 14th. Credit Suisse Group reaffirmed an “outperform” rating and set a $25.00 price objective (down from $30.00) on shares of Snap in a report on Monday, July 10th. Finally, Vetr cut shares of Snap from a “strong-buy” rating to a “buy” rating and set a $24.14 target price for the company. in a research note on Thursday, May 25th. Ten equities research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and twelve have issued a buy rating to the company. Snap presently has an average rating of “Hold” and a consensus price target of $18.26.

Shares of Snap (NYSE SNAP) opened at 15.13 on Monday. The company has a 50-day moving average price of $15.27 and a 200 day moving average price of $22.28. Snap has a 52-week low of $14.89 and a 52-week high of $29.44. The firm’s market capitalization is $18.11 billion.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.07). The business had revenue of $181.70 million during the quarter, compared to the consensus estimate of $186.49 million. The business’s quarterly revenue was up 153.1% compared to the same quarter last year. Analysts expect that Snap will post ($0.64) EPS for the current fiscal year.

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In other Snap news, VP Timothy Sehn sold 400,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $12.50, for a total transaction of $5,000,000.00. Following the completion of the sale, the vice president now owns 2,204,168 shares in the company, valued at approximately $27,552,100. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Vollero sold 195,100 shares of the company’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $12.50, for a total transaction of $2,438,750.00. Following the sale, the chief financial officer now owns 1,882,280 shares of the company’s stock, valued at approximately $23,528,500. The disclosure for this sale can be found here. Insiders have sold a total of 1,695,724 shares of company stock valued at $23,209,887 in the last quarter.

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. acquired a new position in shares of Snap in the 1st quarter valued at $252,388,000. US Bancorp DE acquired a new position in shares of Snap in the 1st quarter valued at $101,000. Global X Management Co. LLC acquired a new position in shares of Snap in the 1st quarter valued at $3,650,000. Brighton Jones LLC acquired a new position in shares of Snap in the 2nd quarter valued at $312,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Snap in the 1st quarter valued at $369,000. 16.40% of the stock is owned by institutional investors.

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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