Nomura reissued their sell rating on shares of Snap Inc. (NYSE:SNAP) in a report released on Thursday, May 11th, Marketbeat reports. They currently have a $28.00 price objective on the stock, up from their previous price objective of $16.00.
A number of other equities analysts also recently weighed in on the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $30.00 price target on shares of Snap in a research note on Monday, April 17th. Barclays PLC reaffirmed a sell rating on shares of Snap in a research note on Friday, April 14th. Summit Research reaffirmed a sell rating and issued a $17.00 price target on shares of Snap in a research note on Tuesday, March 28th. Bank of America Corporation assumed coverage on shares of Snap in a research note on Monday, March 27th. They issued a neutral rating and a $25.00 price target on the stock. Finally, CIBC reissued a market perform rating on shares of Snap in a research report on Tuesday, March 28th. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Snap has an average rating of Hold and a consensus target price of $21.84.
Shares of Snap (NYSE:SNAP) opened at 17.54 on Thursday. The stock has a 50 day moving average price of $20.48 and a 200-day moving average price of $21.10. The stock’s market cap is $20.68 billion. Snap has a 12 month low of $17.00 and a 12 month high of $29.44. Snap also saw some unusual options trading activity on Friday. Investors purchased 37,110 call options on the stock. This is an increase of 133% compared to the typical daily volume of 15,938 call options.
Snap (NYSE:SNAP) last announced its earnings results on Wednesday, May 10th. The company reported ($2.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.05) by $0.26. The business had revenue of $149.60 million for the quarter, compared to the consensus estimate of $158.32 million. The business’s quarterly revenue was up 285.6% compared to the same quarter last year. On average, analysts forecast that Snap will post ($0.55) EPS for the current fiscal year.
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Hedge funds have recently modified their holdings of the stock. FMR LLC bought a new stake in shares of Snap during the first quarter worth $737,133,000. JPMorgan Chase & Co. bought a new stake in shares of Snap during the first quarter worth $252,388,000. BlackRock Inc. bought a new stake in shares of Snap during the first quarter worth $211,934,000. Vanguard Group Inc. bought a new stake in shares of Snap during the first quarter worth $152,135,000. Finally, Jennison Associates LLC bought a new stake in shares of Snap during the first quarter worth $119,178,000. 29.57% of the stock is owned by institutional investors and hedge funds.
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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