Snap Inc. (SNAP) Rating Lowered to Hold at Stifel Nicolaus
Snap Inc. (NYSE:SNAP) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued to investors on Friday. They presently have a $20.00 target price on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 32.19% from the stock’s previous close.
Other research analysts also recently issued reports about the stock. UBS AG assumed coverage on shares of Snap in a research report on Monday, March 27th. They set a “neutral” rating and a $24.00 target price for the company. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $15.00 price objective (down from $22.00) on shares of Snap in a report on Friday, May 12th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $16.50 price objective (down from $20.00) on shares of Snap in a report on Thursday, July 13th. Summit Redstone assumed coverage on shares of Snap in a report on Monday, March 27th. They issued a “sell” rating and a $17.00 price objective for the company. Finally, Nomura reaffirmed a “sell” rating and issued a $28.00 price objective (up from $16.00) on shares of Snap in a report on Thursday, May 11th. Nine investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.24.
Shares of Snap (NYSE:SNAP) opened at 15.13 on Friday. The stock’s 50 day moving average price is $19.18 and its 200-day moving average price is $20.72. The company’s market cap is $10.32 billion. Snap has a one year low of $15.12 and a one year high of $29.44.
Snap (NYSE:SNAP) last released its earnings results on Wednesday, May 10th. The company reported ($2.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.05) by $0.26. The firm had revenue of $149.60 million for the quarter, compared to analysts’ expectations of $158.32 million. The firm’s quarterly revenue was up 285.6% compared to the same quarter last year. On average, analysts expect that Snap will post ($0.56) EPS for the current year.
Several hedge funds have recently bought and sold shares of SNAP. US Bancorp DE bought a new stake in Snap during the first quarter valued at $101,000. WFG Advisors LP bought a new stake in Snap during the first quarter valued at $109,000. Benjamin F. Edwards & Company Inc. bought a new stake in Snap during the first quarter valued at $158,000. Pacer Advisors Inc. bought a new stake in Snap during the first quarter valued at $205,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Snap during the first quarter valued at $223,000. Hedge funds and other institutional investors own 29.55% of the company’s stock.
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.
Receive News & Ratings for Snap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap Inc. and related companies with MarketBeat.com's FREE daily email newsletter.