Snap Inc. (NYSE:SNAP)‘s stock had its “outperform” rating reaffirmed by research analysts at Credit Suisse Group in a report issued on Wednesday, The Fly reports. They presently have a $20.00 target price on the stock, up from their previous target price of $17.00. Credit Suisse Group’s target price points to a potential upside of 39.47% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other brokerages also recently issued reports on SNAP. Vetr downgraded shares of Snap from a “buy” rating to a “hold” rating and set a $17.51 target price on the stock. in a research note on Monday, July 3rd. Drexel Hamilton reiterated a “buy” rating and issued a $30.00 target price on shares of Snap in a research note on Wednesday, July 5th. Aegis dropped their target price on shares of Snap from $20.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, June 21st. Royal Bank Of Canada reiterated a “buy” rating and issued a $31.00 target price on shares of Snap in a research note on Tuesday, July 11th. Finally, Morgan Stanley downgraded shares of Snap from an “overweight” rating to an “equal weight” rating and set a $16.00 target price on the stock. in a research note on Tuesday, July 11th. Ten research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $18.03.

Snap (SNAP) opened at 14.34 on Wednesday. The company’s market cap is $17.17 billion. The firm’s 50 day moving average is $14.62 and its 200 day moving average is $17.38. Snap has a 52-week low of $11.28 and a 52-week high of $29.44.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, August 10th. The company reported ($0.36) earnings per share 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 analyst estimates of $186.49 million. The business’s revenue was up 153.1% on a year-over-year basis. Analysts forecast that Snap will post ($0.64) EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/10/11/snap-inc-snap-given-outperform-rating-at-credit-suisse-group.html.

In other news, 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 value of $5,000,000.00. Following the completion of the sale, the vice president now directly owns 2,204,168 shares of the company’s stock, valued at $27,552,100. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andrew Vollero sold 37,874 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $14.64, for a total transaction of $554,475.36. Following the completion of the sale, the chief financial officer now directly owns 1,797,644 shares of the company’s stock, valued at $26,317,508.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,133,598 shares of company stock valued at $29,704,362.

Hedge funds and other institutional investors have recently made changes to their positions in the company. US Bancorp DE purchased a new stake in shares of Snap in the first quarter worth $101,000. Seven Bridges Advisors LLC purchased a new stake in shares of Snap in the second quarter worth $101,000. WFG Advisors LP increased its stake in shares of Snap by 52.4% in the second quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after purchasing an additional 2,537 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased 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 purchasing an additional 6,540 shares in the last quarter. Finally, Dubuque Bank & Trust Co. purchased a new stake in shares of Snap in the second quarter worth $137,000. 16.40% of the stock is owned by hedge funds and other institutional investors.

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.

The Fly

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.