Stifel Nicolaus Lowers Snap Inc. (SNAP) to Hold

Snap Inc. (NYSE:SNAP) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, July 14th. They presently have a $20.00 target price on the stock. Stifel Nicolaus’ target price points to a potential upside of 47.93% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. UBS AG assumed coverage on shares of Snap in a research note on Monday, March 27th. They issued a “neutral” rating and a $24.00 price objective on the stock. 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 assumed coverage on shares of Snap in a research report on Monday, March 27th. They issued a “sell” rating and a $17.00 target price on the stock. Finally, Nomura reissued a “sell” rating and issued a $28.00 target price (up from $16.00) on shares of Snap in a research report on Thursday, May 11th. Nine investment analysts have rated the stock with a sell rating, twenty-one have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.03.

Shares of Snap (NYSE:SNAP) traded up 4.56% on Friday, reaching $13.52. 53,080,707 shares of the company’s stock traded hands. The company has a 50 day moving average price of $16.13 and a 200 day moving average price of $19.59. The firm’s market capitalization is $15.94 billion. Snap has a 52 week low of $12.83 and a 52 week high of $29.44.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Wednesday, May 10th. The company reported ($2.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.05) by $0.26. The firm had revenue of $149.60 million for the quarter, compared to the consensus estimate of $158.32 million. The business’s revenue was up 285.6% on a year-over-year basis. On average, equities research analysts predict that Snap will post ($0.57) earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in Snap during the first quarter worth about $525,000. US Bancorp DE purchased a new stake in shares of Snap during the first quarter worth $101,000. First Trust Advisors LP purchased a new stake in shares of Snap during the first quarter worth $10,130,000. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Snap during the first quarter worth $2,837,000. Finally, Geneva Advisors LLC purchased a new stake in shares of Snap during the first quarter worth $406,000. Hedge funds and other institutional investors own 29.61% of the company’s stock.

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.