A number of other analysts have also issued reports on the company. Canaccord Genuity restated a hold rating and issued a $22.00 target price on shares of Snap in a report on Friday, May 12th. Deutsche Bank AG reduced their target price on Snap from $30.00 to $23.00 and set a buy rating for the company in a report on Friday, May 12th. Drexel Hamilton restated a buy rating and issued a $30.00 target price on shares of Snap in a report on Thursday, May 11th. Royal Bank of Canada increased their target price on Snap from $17.00 to $18.00 and gave the company an outperform rating in a report on Thursday, May 11th. Finally, Morgan Stanley restated an overweight rating and issued a $31.00 target price on shares of Snap in a report on Thursday, May 11th. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $21.93.
Snap (NYSE:SNAP) opened at 19.90 on Friday. The firm’s market capitalization is $19.03 billion. Snap has a 1-year low of $17.59 and a 1-year high of $29.44. The company has a 50-day moving average price of $21.34 and a 200 day moving average price of $21.62.
Snap (NYSE:SNAP) last released its quarterly earnings data on Wednesday, May 10th. The company reported ($2.31) earnings per share for the quarter, missing the consensus estimate of ($2.05) by $0.26. The firm had revenue of $149.60 million during the quarter, compared to analyst estimates of $158.32 million. Snap’s revenue for the quarter was up 285.6% compared to the same quarter last year. Equities analysts anticipate that Snap will post ($0.58) earnings per share for the current year.
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Institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new position in Snap during the first quarter valued at $525,000. US Bancorp DE bought a new position in Snap during the first quarter valued at $101,000. First Trust Advisors LP bought a new position in Snap during the first quarter valued at $10,130,000. Commerzbank Aktiengesellschaft FI bought a new position in Snap during the first quarter valued at $2,837,000. Finally, Geneva Advisors LLC bought a new position in Snap during the first quarter valued at $406,000.
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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