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Snap : snaps back after analyst assigns first 'buy' rating

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03/20/2017 | 05:51pm CEST
A woman stands in front of the logo of Snap Inc. on the floor of the New York Stock Exchange (NYSE) while waiting for Snap Inc. to post their IPO, in New York City

Snap Inc stock rose on Monday after the Snapchat owner received its first "buy" rating from a Wall Street analyst following a $3.4 billion (2.75 billion pounds) public listing this month that raised the eyebrows of many on Wall Street.

The social media company's public listing on March 1 was the hottest by a technology firm in three years, but after two days of explosive gains, its stock has mostly fallen as investors worry about Snap's high valuation and lack of profitability.

Based on the average of analysts' buy, sell and neutral recommendations, Snap is the worst-rated stock among 288 U.S. companies that have a market capitalisation of at least $20 billion, according to Thomson Reuters data.

Crespi, Hardt & Co analyst James Cakmak on Monday gave Snap its first "buy" rating and a $25 target price. Its stock at midday was up 2.09 percent at $19.96.

"We see a company with the potential to outpace revenue growth of peers by 7x, along with a steep margin trajectory, while peer margins have likely peaked," he said in a report.

Cakmak's recommendation stands out among reports by analysts concerned about Snap's slowing user growth, widening losses and lack of voting rights for outside investors. Snap has warned it may never be profitable.

Another five analysts have recommended selling Snap while four analysts have neutral ratings.

In its first two days of trading, Snap surged 59 percent from its $17 IPO price. Since then, it has lost 26 percent.

(Reporting by Noel Randewich; Editing by Cynthia Osterman)

By Noel Randewich

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Financials ($)
Sales 2017 1 032 M
EBIT 2017 -682 M
Net income 2017 -2 763 M
Finance 2017 1 795 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 24,4x
EV / Sales 2018 12,6x
Capitalization 26 997 M
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Snap Inc Technical Analysis Chart | SNAP | US83304A1060 | 4-Traders
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Technical analysis trends SNAP INC
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Mean consensus HOLD
Number of Analysts 27
Average target price 23,6 $
Spread / Average Target 3,9%
Consensus details
Evan Thomas Spiegel Chief Executive Officer
Michael M. Lynton Chairman
Anrew Vollero Chief Financial Officer
Robert C. Murphy Director & Chief Technology Officer
Philippe Browning Vice President-Advertising & Mobile Operations
More about the company
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1st jan.Capitalization (M$)
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