Snap Inc. (SNAP) Receives Average Recommendation of “Hold” from Analysts
Snap Inc. (NYSE:SNAP) has earned a consensus rating of “Hold” from the forty-four ratings firms that are currently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a sell recommendation, twenty have assigned a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $21.19.
A number of analysts have weighed in on the company. UBS AG assumed coverage on Snap in a report on Monday, March 27th. They set a “neutral” rating and a $24.00 price target for the company. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $15.00 price target (down from $22.00) on shares of Snap in a report on Friday, May 12th. Piper Jaffray Companies reiterated a “neutral” rating and set a $16.50 price target (down from $20.00) on shares of Snap in a report on Thursday. Stifel Nicolaus downgraded Snap from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a report on Friday. Finally, Cowen and Company downgraded Snap from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $21.00 to $26.00 in a report on Friday.
Snap (NYSE SNAP) traded up 0.5232% on Monday, reaching $15.3499. The company had a trading volume of 5,178,964 shares. The stock’s market capitalization is $10.47 billion. The firm has a 50 day moving average price of $19.18 and a 200-day moving average price of $20.72. Snap has a 12 month low of $15.21 and a 12 month high of $29.44.
Snap (NYSE:SNAP) last posted its quarterly earnings data 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 company had revenue of $149.60 million during the quarter, compared to analyst estimates of $158.32 million. Snap’s quarterly revenue was up 285.6% compared to the same quarter last year. Analysts forecast that Snap will post ($0.56) earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of the company. NN Investment Partners Holdings N.V. raised its stake in shares of Snap by 6.3% in the second quarter. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company’s stock valued at $754,000 after buying an additional 2,530 shares during the last quarter. US Bancorp DE bought a new stake in shares of Snap during the first quarter valued at about $101,000. WFG Advisors LP acquired a new position in Snap during the first quarter worth $109,000. Benjamin F. Edwards & Company Inc. acquired a new position in Snap during the first quarter worth $158,000. Finally, Pacer Advisors Inc. acquired a new position in Snap during the first quarter worth $205,000. Institutional investors own 29.55% of the company’s stock.
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.
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