Snap (NYSE:SNAP) Given New $30.00 Price Target at Deutsche Bank Aktiengesellschaft

Snap (NYSE:SNAPGet Rating) had its target price reduced by stock analysts at Deutsche Bank Aktiengesellschaft from $45.00 to $30.00 in a research note issued to investors on Monday, The Fly reports. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 103.39% from the stock’s current price.

Several other equities research analysts have also weighed in on the stock. Stifel Nicolaus cut their target price on shares of Snap from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, April 22nd. Susquehanna decreased their price objective on shares of Snap from $34.00 to $14.00 in a research report on Wednesday, May 25th. KeyCorp cut their target price on shares of Snap from $45.00 to $27.00 and set an “overweight” rating for the company in a research note on Tuesday, May 24th. Jefferies Financial Group dropped their price objective on shares of Snap from $52.00 to $30.00 in a research note on Tuesday, May 24th. Finally, Citigroup upgraded shares of Snap from a “neutral” rating to a “buy” rating and boosted their target price for the company from $41.00 to $50.00 in a research report on Wednesday, April 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $37.38.

Snap stock opened at $14.75 on Monday. The firm has a fifty day moving average price of $27.30 and a two-hundred day moving average price of $35.71. The firm has a market cap of $24.14 billion, a price-to-earnings ratio of -40.97 and a beta of 1.22. The company has a debt-to-equity ratio of 1.05, a current ratio of 7.19 and a quick ratio of 7.19. Snap has a fifty-two week low of $12.55 and a fifty-two week high of $83.34.

Snap (NYSE:SNAPGet Rating) last announced its quarterly earnings data on Thursday, April 21st. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. Snap had a negative net margin of 12.71% and a negative return on equity of 16.37%. The firm’s quarterly revenue was up 38.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.19) EPS. As a group, sell-side analysts expect that Snap will post -0.49 earnings per share for the current year.

In other Snap news, General Counsel Michael J. O’sullivan sold 12,500 shares of the firm’s stock in a transaction on Thursday, March 31st. The shares were sold at an average price of $36.12, for a total transaction of $451,500.00. Following the transaction, the general counsel now directly owns 761,039 shares of the company’s stock, valued at approximately $27,488,728.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jerry James Hunter sold 42,105 shares of the firm’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $22.67, for a total transaction of $954,520.35. Following the transaction, the vice president now directly owns 665,813 shares in the company, valued at $15,093,980.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,543,187 shares of company stock valued at $44,290,878.

Large investors have recently bought and sold shares of the company. Center for Financial Planning Inc. purchased a new stake in Snap in the third quarter valued at approximately $41,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Snap by 80.7% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 618 shares of the company’s stock worth $46,000 after buying an additional 276 shares during the period. Manchester Capital Management LLC grew its stake in Snap by 64.7% during the fourth quarter. Manchester Capital Management LLC now owns 621 shares of the company’s stock worth $29,000 after buying an additional 244 shares during the period. Jacobi Capital Management LLC purchased a new stake in Snap during the third quarter worth approximately $47,000. Finally, Selective Wealth Management Inc. purchased a new stake in Snap during the fourth quarter worth approximately $33,000. 53.88% of the stock is owned by institutional investors and hedge funds.

Snap Company Profile (Get Rating)

Snap Inc operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images.

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