Snap Inc. (NYSE:SNAP) was downgraded by stock analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report issued on Friday, July 14th. They currently have a $20.00 price objective on the stock. Stifel Nicolaus’ price target points to a potential upside of 47.93% from the stock’s previous close.
Several other analysts have also issued reports on the company. UBS AG began coverage on Snap in a report on Monday, March 27th. They set a “neutral” rating and a $24.00 price target for the company. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $15.00 price objective (down previously from $22.00) on shares of Snap in a research note on Friday, May 12th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $16.50 price objective (down previously from $20.00) on shares of Snap in a research note on Thursday, July 13th. Summit Redstone started coverage on Snap in a research report on Monday, March 27th. They set a “sell” rating and a $17.00 price objective on the stock. Finally, Barclays PLC reduced their price target on Snap from $23.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, May 11th. Nine investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $21.03.
Snap (NYSE:SNAP) opened at 13.52 on Friday. Snap has a 52-week low of $12.83 and a 52-week high of $29.44. The firm’s 50-day moving average is $16.13 and its 200-day moving average is $19.59. The company’s market capitalization is $15.94 billion.
Snap (NYSE:SNAP) last posted its quarterly earnings results on Wednesday, May 10th. The company reported ($2.31) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.05) by $0.26. The firm had revenue of $149.60 million during the quarter, compared to analysts’ expectations of $158.32 million. Snap’s revenue was up 285.6% on a year-over-year basis. On average, equities research analysts forecast that Snap will post ($0.57) EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. NN Investment Partners Holdings N.V. raised its stake in Snap by 6.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company’s stock valued at $754,000 after buying an additional 2,530 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Snap by 59.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,152 shares of the company’s stock valued at $198,000 after buying an additional 4,140 shares in the last quarter. US Bancorp DE acquired a new stake in Snap during the first quarter valued at approximately $101,000. WFG Advisors LP acquired a new stake in Snap during the first quarter valued at approximately $109,000. Finally, Marshall Wace North America L.P. raised its stake in Snap by 10.5% in the second quarter. Marshall Wace North America L.P. now owns 52,566 shares of the company’s stock valued at $946,000 after buying an additional 5,010 shares in the last quarter. 29.61% 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.
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