Vetr Upgrades Snap (SNAP) to “Buy”

Vetr upgraded shares of Snap (NYSE:SNAP) from a hold rating to a buy rating in a research note published on Wednesday. Vetr currently has $16.73 target price on the stock.

A number of other research analysts have also recently issued reports on SNAP. Canaccord Genuity reaffirmed a hold rating and issued a $15.00 target price on shares of Snap in a report on Sunday, October 1st. Drexel Hamilton reaffirmed a buy rating and issued a $28.00 target price on shares of Snap in a report on Friday, December 15th. BidaskClub raised shares of Snap from a sell rating to a hold rating in a report on Thursday, September 28th. Aegis dropped their target price on shares of Snap from $15.00 to $13.00 and set a hold rating for the company in a report on Wednesday, November 8th. Finally, Barclays dropped their target price on shares of Snap from $13.00 to $11.00 and set an equal weight rating for the company in a report on Wednesday, November 8th. Sixteen analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $16.86.

Shares of Snap (NYSE:SNAP) traded down $0.22 during trading hours on Wednesday, reaching $15.15. 12,087,059 shares of the company were exchanged, compared to its average volume of 22,470,000. The firm has a market capitalization of $17,980.00 and a P/E ratio of -4.76. Snap has a 1 year low of $11.28 and a 1 year high of $29.44.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.17. The firm had revenue of $207.90 million during the quarter, compared to the consensus estimate of $236.71 million. Snap had a negative net margin of 463.16% and a negative return on equity of 107.36%. The business’s revenue was up 62.2% on a year-over-year basis. analysts anticipate that Snap will post -3.04 EPS for the current year.

In other Snap news, CFO Andrew Vollero sold 70,566 shares of Snap stock in a transaction on Monday, December 18th. The shares were sold at an average price of $16.09, for a total value of $1,135,406.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mitchell Lasky sold 25,000 shares of Snap stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $12.38, for a total transaction of $309,500.00. The disclosure for this sale can be found here. Insiders sold a total of 4,140,711 shares of company stock valued at $55,330,768 over the last ninety days.

Several institutional investors and hedge funds have recently made changes to their positions in SNAP. First Manhattan Co. boosted its holdings in shares of Snap by 384.5% in the 3rd quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock valued at $110,000 after purchasing an additional 6,056 shares during the last quarter. WFG Advisors LP boosted its holdings in shares of Snap by 52.4% in the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock valued at $131,000 after purchasing an additional 2,537 shares during the last quarter. Nelson Roberts Investment Advisors LLC lifted its holdings in shares of Snap by 10,033.0% during the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 10,133 shares of the company’s stock valued at $147,000 after acquiring an additional 10,033 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in shares of Snap during the 2nd quarter valued at $148,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Snap by 9,588.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 9,688 shares of the company’s stock valued at $172,000 after acquiring an additional 9,588 shares in the last quarter. Institutional investors own 18.88% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Snap (NYSE:SNAP)

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