Cleveland Research downgraded shares of Snap Inc. (NYSE:SNAP) from a buy rating to a neutral rating in a research report report published on Tuesday, July 25th.
A number of other analysts have also recently commented on SNAP. UBS AG began coverage on shares of Snap in a research note on Monday, March 27th. They issued a neutral rating and a $24.00 price target for the company. Canaccord Genuity reiterated a hold rating and issued a $22.00 price target on shares of Snap in a research note on Friday, May 12th. Moffett Nathanson restated a sell rating on shares of Snap in a research note on Friday, March 31st. Wells Fargo & Co started coverage on shares of Snap in a research note on Friday, March 31st. They set a market perform rating and a $21.00 target price for the company. Finally, Instinet restated a reduce rating and set a $14.00 target price on shares of Snap in a research note on Friday, June 9th. Nine investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $21.03.
Snap (NYSE:SNAP) opened at 13.52 on Tuesday. The firm’s market cap is $15.94 billion. The firm’s 50-day moving average is $16.13 and its 200-day moving average is $19.59. 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 results on Wednesday, May 10th. The company reported ($2.31) EPS for the quarter, missing analysts’ consensus estimates of ($2.05) by $0.26. The business had revenue of $149.60 million for the quarter, compared to analysts’ expectations of $158.32 million. The firm’s revenue was up 285.6% on a year-over-year basis. Analysts forecast that Snap will post ($0.57) EPS for the current fiscal year.
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Several large investors have recently made changes to their positions in SNAP. NN Investment Partners Holdings N.V. increased its stake in shares of Snap by 6.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company’s stock worth $754,000 after buying an additional 2,530 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Snap by 59.0% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,152 shares of the company’s stock worth $198,000 after buying an additional 4,140 shares in the last quarter. US Bancorp DE bought a new stake in shares of Snap during the first quarter worth $101,000. WFG Advisors LP bought a new stake in shares of Snap during the first quarter worth $109,000. Finally, Marshall Wace North America L.P. increased its stake in shares of Snap by 10.5% in the second quarter. Marshall Wace North America L.P. now owns 52,566 shares of the company’s stock worth $946,000 after buying an additional 5,010 shares in the last quarter. 29.61% of the stock is currently owned by hedge funds and other institutional investors.
Snap Company Profile
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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