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.

About Snap

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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