Snap (NYSE:SNAP) was downgraded by equities researchers at Citigroup from a “neutral” rating to a “sell” rating in a research note issued on Tuesday, The Fly reports.
Other analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Snap from a “hold” rating to a “sell” rating in a report on Wednesday, January 10th. Pivotal Research reiterated a “sell” rating and issued a $10.00 target price on shares of Snap in a report on Wednesday, January 10th. SunTrust Banks upgraded shares of Snap from a “sell” rating to a “hold” rating and set a $10.00 target price on the stock in a report on Wednesday, February 7th. Vetr upgraded shares of Snap from a “buy” rating to a “strong-buy” rating and set a $23.05 target price on the stock in a report on Tuesday. Finally, Credit Suisse Group dropped their target price on shares of Snap from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 8th. Fifteen investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Snap currently has an average rating of “Hold” and a consensus price target of $18.26.
Shares of Snap (NYSE:SNAP) opened at $20.42 on Tuesday. Snap has a fifty-two week low of $11.28 and a fifty-two week high of $29.44. The company has a market cap of $24,957.37 and a P/E ratio of -6.17.
A number of hedge funds have recently bought and sold shares of the business. Coatue Management LLC grew its position in Snap by 16.1% in the fourth quarter. Coatue Management LLC now owns 27,390,619 shares of the company’s stock worth $400,176,000 after acquiring an additional 3,791,168 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Snap by 17.8% during the 4th quarter. BlackRock Inc. now owns 11,648,770 shares of the company’s stock worth $170,188,000 after buying an additional 1,762,106 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Snap by 11.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,650,826 shares of the company’s stock worth $110,556,000 after buying an additional 797,290 shares during the period. First Trust Advisors LP boosted its holdings in shares of Snap by 11.3% during the 4th quarter. First Trust Advisors LP now owns 6,546,551 shares of the company’s stock worth $95,645,000 after buying an additional 662,450 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Snap by 17.1% during the 4th quarter. Allianz Asset Management GmbH now owns 5,303,118 shares of the company’s stock worth $77,479,000 after buying an additional 774,113 shares during the period. 18.24% of the stock is owned by institutional investors.
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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.
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