Rosenblatt Securities Reiterates Their Buy Rating on Snap (SNAP)

By Austin Angelo

In a report released today, Mark Zgutowicz from Rosenblatt Securities reiterated a Buy rating on Snap (SNAPResearch Report), with a price target of $18.00. The company’s shares closed last Wednesday at $16.24.

According to TipRanks.com, Zgutowicz is a 5-star analyst with an average return of 20.0% and a 60.0% success rate. Zgutowicz covers the Technology sector, focusing on stocks such as Spotify Technology SA, Criteo SA, and Pinterest.

Currently, the analyst consensus on Snap is a Moderate Buy with an average price target of $17.66, implying a 16.3% upside from current levels. In a report issued on April 7, Barclays also maintained a Buy rating on the stock with a $19.00 price target.

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Based on Snap’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $561 million and GAAP net loss of $241 million. In comparison, last year the company earned revenue of $390 million and had a GAAP net loss of $192 million.

Based on the recent corporate insider activity of 151 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNAP in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Snap, Inc. engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application. The company’s primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C. Murphy in 2010 and is headquartered in Santa Monica, CA.