Oppenheimer Holdings, Inc. upgraded shares of Snap Inc. (NYSE:SNAP) from a market perform rating to an outperform rating in a research report sent to investors on Thursday, May 11th, MarketBeat.com reports. The firm currently has $23.00 price target on the stock.
A number of other equities research analysts have also recently weighed in on SNAP. Atlantic Securities assumed coverage on shares of Snap in a research report on Tuesday, February 21st. They set a neutral rating for the company. Moffett Nathanson reiterated a sell rating on shares of Snap in a research report on Friday, March 31st. Wells Fargo & Company started coverage on shares of Snap in a research report on Friday, March 31st. They set a market perform rating and a $21.00 price target for the company. Instinet started coverage on shares of Snap in a research note on Thursday, March 2nd. They issued a reduce rating and a $16.00 price objective for the company. Finally, Susquehanna Bancshares Inc started coverage on shares of Snap in a research note on Friday, March 3rd. They issued a neutral rating and a $22.00 price objective for the company. Eight research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $21.84.
Shares of Snap (NYSE:SNAP) opened at 17.54 on Thursday. The stock’s market capitalization is $20.68 billion. Snap has a 12-month low of $17.00 and a 12-month high of $29.44. The stock’s 50 day moving average is $20.48 and its 200-day moving average is $21.10. Snap also was the target of some unusual options trading activity on Friday. Investors acquired 37,110 call options on the company. This represents an increase of 133% compared to the average daily volume of 15,938 call options.
Snap (NYSE:SNAP) last announced its quarterly earnings results on Wednesday, May 10th. The company reported ($2.31) earnings per share 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 analyst estimates of $158.32 million. The firm’s revenue was up 285.6% compared to the same quarter last year. On average, analysts expect that Snap will post ($0.55) earnings per share for the current year.
ILLEGAL ACTIVITY WARNING: This story was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this story on another publication, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The legal version of this story can be read at https://www.com-unik.info/2017/06/17/snap-inc-snap-upgraded-to-outperform-by-oppenheimer-holdings-inc-updated-updated-updated.html.
Institutional investors have recently made changes to their positions in the stock. US Bancorp DE purchased a new position in shares of Snap during the first quarter valued at about $101,000. WFG Advisors LP purchased a new position in shares of Snap during the first quarter valued at about $109,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Snap during the first quarter valued at about $158,000. Pacer Advisors Inc. purchased a new position in shares of Snap during the first quarter valued at about $205,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Snap during the first quarter valued at about $223,000. 29.57% of the stock is currently owned by 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.
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.