Snap Inc. (SNAP) Given “Sell” Rating at Nomura

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.

ILLEGAL ACTIVITY NOTICE: This piece of content was first published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.com-unik.info/2017/06/17/snap-inc-snap-rating-reiterated-by-nomura-updated-updated-updated.html.

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.

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.

What are top analysts saying about Snap Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Snap Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit