Snap Inc. (NYSE:SNAP) Given “Outperform” Rating at Royal Bank Of Canada

Snap Inc. (NYSE:SNAP)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Royal Bank Of Canada in a note issued to investors on Wednesday. They presently have a $31.00 price target on the stock. Royal Bank Of Canada’s price objective points to a potential upside of 125.13% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Jefferies Group LLC reaffirmed a “buy” rating and set 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. Vetr downgraded shares of Snap from a “buy” rating to a “hold” rating and set a $22.54 price target on the stock. in a research note on Thursday, April 27th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $23.00 price target on shares of Snap in a research note on Tuesday, July 11th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Snap in a research note on Tuesday, April 25th. They set a “market perform” rating and a $23.48 price target on the stock. Nine equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $20.90.

Shares of Snap (NYSE SNAP) opened at 13.77 on Wednesday. The stock’s market cap is $16.23 billion. The firm has a 50-day moving average price of $15.27 and a 200-day moving average price of $19.19. Snap has a 12 month low of $11.90 and a 12 month high of $29.44.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 10th. The company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.29) by $0.13. The company had revenue of $181.70 million for the quarter, compared to analysts’ expectations of $186.49 million. The firm’s quarterly revenue was up 153.1% compared to the same quarter last year. Equities analysts expect that Snap will post ($0.56) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of Snap during the first quarter valued at $525,000. US Bancorp DE bought a new position in shares of Snap during the first quarter valued at $101,000. First Trust Advisors LP bought a new position in shares of Snap during the first quarter valued at $10,130,000. Commerzbank Aktiengesellschaft FI bought a new position in shares of Snap during the first quarter valued at $2,837,000. Finally, Geneva Advisors LLC bought a new position in shares of Snap during the first quarter valued at $406,000. 30.16% of the stock is 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.

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