Snap Inc (NYSE:SNAP)‘s stock had its “buy” rating reiterated by analysts at Cantor Fitzgerald in a report released on Wednesday. They currently have a $15.00 price target on the stock. Cantor Fitzgerald’s target price indicates a potential downside of 2.22% from the company’s current price.

Several other equities research analysts have also issued reports on SNAP. Cowen and Company reissued an “outperform” rating and issued a $26.00 price objective on shares of Snap in a research report on Tuesday, May 9th. UBS AG raised shares of Snap from a “market perform” rating to an “outperform” rating and dropped their price objective for the stock from $24.00 to $19.00 in a research report on Thursday, May 11th. Stifel Nicolaus dropped their price objective on shares of Snap from $27.00 to $24.00 and set a “hold” rating for the company in a research report on Thursday, May 11th. J P Morgan Chase & Co dropped their price objective on shares of Snap from $24.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, May 11th. Finally, Oppenheimer Holdings, Inc. raised shares of Snap from a “market perform” rating to an “outperform” rating and set a $23.00 price objective for the company in a research report on Thursday, May 11th. Ten analysts have rated the stock with a sell rating, twenty-three have given a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $18.33.

Shares of Snap (NYSE:SNAP) traded up 1.25% during trading on Wednesday, reaching $15.34. 36,588,463 shares of the company’s stock traded hands. The company’s market capitalization is $18.36 billion. Snap has a 1-year low of $11.28 and a 1-year high of $29.44. The stock has a 50-day moving average of $13.91 and a 200-day moving average of $18.44.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by $0.07. Snap had a negative return on equity of 48.85% and a negative net margin of 243.90%. The business had revenue of $181.70 million during the quarter, compared to analyst estimates of $186.49 million. Snap’s quarterly revenue was up 153.1% compared to the same quarter last year. On average, equities analysts predict that Snap will post ($0.63) EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Snap Inc (SNAP) Given “Buy” Rating at Cantor Fitzgerald” was first posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another site, it was illegally copied and republished in violation of U.S. & international copyright & trademark legislation. The correct version of this news story can be read at https://www.americanbankingnews.com/2017/09/10/snap-inc-snap-given-buy-rating-at-cantor-fitzgerald-2.html.

In other Snap news, insider Imran Khan sold 350,000 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $15.00, for a total transaction of $5,250,000.00. Following the sale, the insider now directly owns 9,946,464 shares of the company’s stock, valued at $149,196,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy Sehn sold 400,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $12.50, for a total transaction of $5,000,000.00. Following the sale, the vice president now directly owns 2,204,168 shares in the company, valued at $27,552,100. The disclosure for this sale can be found here. Insiders have sold 1,695,724 shares of company stock worth $23,209,887 over the last three months.

Several large investors have recently modified their holdings of the business. FMR LLC acquired a new stake in shares of Snap in the 1st quarter worth about $737,133,000. Coatue Management LLC increased its holdings in shares of Snap by 4.5% in the 2nd quarter. Coatue Management LLC now owns 21,898,624 shares of the company’s stock worth $389,139,000 after acquiring an additional 940,900 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Snap in the 1st quarter worth about $252,388,000. BlackRock Inc. increased its holdings in shares of Snap by 10.0% in the 2nd quarter. BlackRock Inc. now owns 10,343,549 shares of the company’s stock worth $183,805,000 after acquiring an additional 936,791 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Snap by 23.7% in the 2nd quarter. Vanguard Group Inc. now owns 8,353,729 shares of the company’s stock worth $148,446,000 after acquiring an additional 1,601,170 shares during the period. 16.40% 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.

Analyst Recommendations for Snap (NYSE:SNAP)

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.