Susquehanna Bancshares Inc reiterated their neutral rating on shares of Snap Inc. (NYSE:SNAP) in a report published on Friday, May 12th. They currently have a $15.00 price objective on the stock, down from their prior price objective of $22.00.
SNAP has been the topic of several other research reports. Piper Jaffray Companies started coverage on Snap in a report on Thursday, March 23rd. They issued a neutral rating and a $23.00 price target on the stock. They noted that the move was a valuation call. Stifel Nicolaus restated a sell rating on shares of Snap in a report on Thursday, March 30th. Canaccord Genuity assumed coverage on Snap in a report on Friday, April 28th. They set a hold rating and a $22.00 target price on the stock. Cowen and Company assumed coverage on Snap in a report on Monday, March 27th. They set an outperform rating and a $26.00 target price on the stock. Finally, Pivotal Research restated a sell rating and set a $10.00 target price on shares of Snap in a report on Saturday, March 11th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $21.84.
Shares of Snap (NYSE SNAP) traded up 3.18% during midday trading on Friday, reaching $17.54. 18,955,724 shares of the company traded hands. Snap has a 12 month low of $17.00 and a 12 month high of $29.44. The company’s 50 day moving average is $20.48 and its 200-day moving average is $21.10. The stock’s market capitalization is $20.68 billion. Snap also was the target of some unusual options trading on Friday. Traders purchased 37,110 call options on the stock. This represents an increase of approximately 133% compared to the average volume of 15,938 call options.
Snap (NYSE:SNAP) last posted its quarterly 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 company had revenue of $149.60 million during the quarter, compared to analyst estimates of $158.32 million. The company’s revenue was up 285.6% on a year-over-year basis. Equities research analysts forecast that Snap will post ($0.55) earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in shares of Snap during the first quarter valued at approximately $525,000. US Bancorp DE acquired a new stake in shares of Snap during the first quarter valued at approximately $101,000. First Trust Advisors LP acquired a new stake in shares of Snap during the first quarter valued at approximately $10,130,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Snap during the first quarter valued at approximately $2,837,000. Finally, Geneva Advisors LLC acquired a new stake in shares of Snap during the first quarter valued at approximately $406,000. Institutional investors own 29.57% of the company’s stock.
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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