Snap Inc. (NYSE:SNAP)‘s stock had its “underperform” rating reiterated by analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday.

Several other equities analysts have also commented on the stock. Drexel Hamilton reaffirmed a “buy” rating and set a $30.00 price target on shares of Snap in a research report on Wednesday. Canaccord Genuity reaffirmed a “hold” rating and set a $15.00 price target on shares of Snap in a research report on Sunday. BidaskClub raised shares of Snap from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $14.00 price target (down previously from $16.00) on shares of Snap in a research report on Monday, September 25th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $17.00 price target (up previously from $15.00) on shares of Snap in a research report on Friday, September 15th. Ten research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.21.

Snap (SNAP) traded down 0.34% during mid-day trading on Thursday, reaching $14.48. 13,148,521 shares of the company traded hands. Snap has a 52-week low of $11.28 and a 52-week high of $29.44. The stock has a 50-day moving average of $14.50 and a 200 day moving average of $17.61. The stock’s market capitalization is $17.33 billion.

Snap (NYSE:SNAP) last announced 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). The company had revenue of $181.70 million for the quarter, compared to analyst estimates of $186.49 million. The company’s quarterly revenue was up 153.1% on a year-over-year basis. Equities research analysts expect that Snap will post ($0.64) earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another domain, it was stolen and republished in violation of United States and international copyright & trademark laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/05/snap-inc-snap-stock-rating-reaffirmed-by-needham-company-llc.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 transaction, the insider now directly owns 9,946,464 shares in the company, valued at approximately $149,196,960. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Timothy Sehn sold 400,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $12.50, for a total transaction of $5,000,000.00. Following the transaction, the vice president now 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 a total of 2,133,598 shares of company stock worth $29,704,362 over the last quarter.

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE bought a new position in Snap during the 1st quarter valued at $101,000. Seven Bridges Advisors LLC bought a new position in shares of Snap in the 2nd quarter worth about $101,000. WFG Advisors LP lifted its position in shares of Snap by 52.4% in the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after buying an additional 2,537 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Snap by 654.0% in the 2nd 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. bought a new position in shares of Snap in the 2nd quarter worth about $137,000. Hedge funds and other institutional investors own 16.40% 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.

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.