Shares of Snap Inc. (NYSE:SNAP) have been assigned an average rating of “Hold” from the forty-four ratings firms that are covering the company, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a sell recommendation, twenty have issued a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $19.02.
A number of equities research analysts recently issued reports on SNAP shares. Barclays PLC reissued a “sell” rating on shares of Snap in a research note on Friday, April 14th. Jefferies Group LLC reiterated a “buy” rating and set a $30.00 price target on shares of Snap in a report on Monday, April 17th. Royal Bank Of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Snap in a research report on Monday, April 17th. Vetr raised Snap from a “buy” rating to a “strong-buy” rating and set a $22.59 target price for the company in a research report on Monday, April 17th. Finally, Raymond James Financial, Inc. began coverage on Snap in a research report on Tuesday, April 25th. They issued a “market perform” rating and a $23.48 target price for the company.
Several institutional investors have recently made changes to their positions in SNAP. US Bancorp DE bought a new position in shares of Snap during the first quarter valued at $101,000. WFG Advisors LP purchased a new stake in shares of Snap during the first quarter valued at about $109,000. Seven Bridges Advisors LLC purchased a new stake in shares of Snap during the second quarter valued at about $101,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Snap during the first quarter valued at about $158,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Snap by 654.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company’s stock valued at $134,000 after buying an additional 6,540 shares during the period. Institutional investors own 30.16% of the company’s stock.
Shares of Snap (SNAP) traded down 14.09% during trading on Monday, reaching $11.83. 83,853,248 shares of the company’s stock traded hands. The company has a 50 day moving average price of $15.27 and a 200-day moving average price of $19.19. The stock’s market cap is $13.95 billion. Snap has a one year low of $11.77 and a one year high of $29.44. Snap also was the target of unusually large options trading activity on Thursday. Stock investors bought 65,962 put options on the company. This is an increase of approximately 173% compared to the typical daily volume of 24,199 put options.
Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, August 10th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by $0.07. The firm had revenue of $181.70 million for the quarter, compared to analyst estimates of $186.49 million. The business’s revenue was up 153.1% on a year-over-year basis. On average, equities research analysts expect that Snap will post ($0.56) EPS for the current fiscal year.
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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