Vetr Inc. Lowers Snap Inc. (SNAP) to Hold
Snap Inc. (NYSE:SNAP) was downgraded by investment analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They presently have a $13.95 price target on the stock. Vetr‘s target price suggests a potential upside of 3.18% from the stock’s current price.
A number of other equities research analysts also recently issued reports on SNAP. UBS AG upgraded Snap from a “market perform” rating to an “outperform” rating and lowered their price objective for the stock from $24.00 to $19.00 in a research report on Thursday, May 11th. Canaccord Genuity reiterated a “hold” rating and issued a $22.00 price objective on shares of Snap in a research report on Friday, May 12th. Instinet reiterated a “reduce” rating and issued a $14.00 price objective on shares of Snap in a research report on Friday, June 9th. Aegis reiterated a “hold” rating and issued a $22.00 price objective on shares of Snap in a research report on Friday, May 19th. Finally, Deutsche Bank AG lowered their price objective on Snap from $30.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, May 12th. Nine research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and fourteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $21.03.
Snap (SNAP) opened at 13.52 on Monday. The firm has a 50-day moving average price of $16.13 and a 200 day moving average price of $19.59. The firm’s market capitalization is $15.94 billion. Snap has a one year low of $12.83 and a one year high of $29.44.
Snap (NYSE:SNAP) last issued its quarterly earnings data on Wednesday, May 10th. The company reported ($2.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.05) by $0.26. The company had revenue of $149.60 million during the quarter, compared to the consensus estimate of $158.32 million. The company’s quarterly revenue was up 285.6% on a year-over-year basis. Analysts anticipate that Snap will post ($0.57) EPS for the current fiscal year.
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Several hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. acquired a new stake in Snap during the first quarter valued at about $252,388,000. US Bancorp DE acquired a new stake in Snap during the first quarter valued at about $101,000. Global X Management Co. LLC acquired a new stake in Snap during the first quarter valued at about $3,650,000. KPCB DGF Associates LLC acquired a new stake in Snap during the first quarter valued at about $40,911,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Snap during the first quarter valued at about $369,000. 29.61% of the stock is currently owned by institutional investors.
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.
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