Snap Inc. (NYSE:SNAP) Given Consensus Recommendation of “Hold” by Analysts
Shares of Snap Inc. (NYSE:SNAP) have earned an average recommendation of “Hold” from the forty-four brokerages that are currently covering the stock, Marketbeat.com reports. Nine analysts have rated the stock with a sell recommendation, twenty have given a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $20.83.
SNAP has been the topic of several research analyst reports. Canaccord Genuity initiated coverage on shares of Snap in a research note on Friday, April 28th. They set a “hold” rating and a $22.00 target price on the stock. Cowen and Company reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of Snap in a research note on Tuesday, May 9th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $25.00 price objective (down from $30.00) on shares of Snap in a research note on Monday, July 10th. Raymond James Financial, Inc. assumed coverage on shares of Snap in a research note on Tuesday, April 25th. They issued a “market perform” rating and a $23.48 price objective on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Snap in a research note on Monday, May 22nd.
ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/08/11/snap-inc-nysesnap-given-consensus-recommendation-of-hold-by-analysts.html.
Several large investors have recently made changes to their positions in the company. US Bancorp DE acquired a new stake in shares of Snap during the first quarter worth $101,000. Seven Bridges Advisors LLC acquired a new stake in shares of Snap during the second quarter worth $101,000. WFG Advisors LP acquired a new stake in shares of Snap during the first quarter worth $109,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Snap by 654.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company’s stock worth $134,000 after buying an additional 6,540 shares during the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new stake in shares of Snap during the second quarter worth $137,000. Hedge funds and other institutional investors own 30.16% of the company’s stock.
Shares of Snap (NYSE SNAP) opened at 13.77 on Friday. The company’s market capitalization is $16.23 billion. Snap has a 52-week low of $11.90 and a 52-week high of $29.44. The company has a 50-day moving average of $15.27 and a 200 day moving average of $19.19.
Snap (NYSE:SNAP) last issued its earnings results on Thursday, August 10th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.13. The company had revenue of $181.70 million for the quarter, compared to the consensus estimate of $186.49 million. Snap’s revenue was up 153.1% compared to the same quarter last year. Analysts predict that Snap will post ($0.56) earnings per share for the current year.
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.
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.