Stock Traders Buy High Volume of Snap Call Options (SNAP)
Snap Inc. (NYSE:SNAP) was the recipient of unusually large options trading activity on Thursday. Stock investors acquired 102,747 call options on the company. This represents an increase of approximately 244% compared to the typical volume of 29,893 call options.
Snap (SNAP) opened at 11.83 on Friday. Snap has a one year low of $11.77 and a one year high of $29.44. The firm’s 50-day moving average is $15.10 and its 200 day moving average is $19.13. The company’s market capitalization is $13.95 billion.
Snap (NYSE:SNAP) last issued its quarterly earnings results on Thursday, August 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.07. The business had revenue of $181.70 million for the quarter, compared to the consensus estimate of $186.49 million. The business’s revenue for the quarter was up 153.1% compared to the same quarter last year. On average, equities analysts expect that Snap will post ($0.56) EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the company. FMR LLC acquired a new stake in shares of Snap during the first quarter worth about $737,133,000. JPMorgan Chase & Co. acquired a new stake in shares of Snap during the first quarter worth about $252,388,000. BlackRock Inc. acquired a new stake in shares of Snap during the first quarter worth about $211,934,000. Vanguard Group Inc. acquired a new stake in shares of Snap during the first quarter worth about $152,135,000. Finally, Jennison Associates LLC acquired a new stake in shares of Snap during the first quarter worth about $119,178,000. Institutional investors own 30.16% of the company’s stock.
A number of equities analysts recently weighed in on SNAP shares. Drexel Hamilton restated a “buy” rating and set a $30.00 target price on shares of Snap in a research report on Thursday, May 11th. Vetr lowered shares of Snap from a “buy” rating to a “hold” rating and set a $13.95 target price for the company. in a research report on Monday, July 31st. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $23.00 target price (down previously from $27.00) on shares of Snap in a research report on Friday. J P Morgan Chase & Co restated a “neutral” rating and set a $18.00 target price (down previously from $20.00) on shares of Snap in a research report on Monday, June 5th. Finally, Stifel Nicolaus lowered shares of Snap from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a research report on Friday, July 14th. Nine equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.42.
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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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