Snap (SNAP) Lifted to Overweight at Barclays
Snap (NYSE:SNAP) was upgraded by equities researchers at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm presently has a $18.00 price target on the stock, up from their previous price target of $11.00. Barclays’ price objective would suggest a potential upside of 32.65% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on SNAP. Vetr cut Snap from a “buy” rating to a “hold” rating and set a $13.95 price objective for the company. in a report on Monday, August 7th. Deutsche Bank reiterated a “buy” rating and issued a $20.00 price objective on shares of Snap in a report on Wednesday, August 9th. Drexel Hamilton reiterated a “buy” rating and issued a $30.00 price objective on shares of Snap in a report on Wednesday, August 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $31.00 price objective on shares of Snap in a report on Wednesday, August 9th. Finally, Citigroup reiterated a “neutral” rating and issued a $13.00 price objective (down previously from $19.00) on shares of Snap in a report on Thursday, August 10th. Sixteen analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $17.14.
Snap (NYSE SNAP) traded down $0.30 during midday trading on Tuesday, reaching $13.57. The company’s stock had a trading volume of 28,799,200 shares, compared to its average volume of 25,370,379. Snap has a 1-year low of $11.28 and a 1-year high of $29.44.
In other Snap news, CEO Evan Spiegel sold 1,652,966 shares of Snap stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $12.42, for a total transaction of $20,529,837.72. Following the completion of the transaction, the chief executive officer now owns 86,657,812 shares in the company, valued at $1,076,290,025.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mitchell Lasky sold 25,000 shares of Snap stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $13.41, for a total value of $335,250.00. The disclosure for this sale can be found here. Insiders have sold 3,751,851 shares of company stock valued at $49,485,124 in the last quarter.
Institutional investors have recently bought and sold shares of the business. Seven Bridges Advisors LLC bought a new stake in shares of Snap in the 2nd quarter worth $101,000. First Manhattan Co. increased its holdings in shares of Snap by 384.5% in the 3rd quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock worth $110,000 after purchasing an additional 6,056 shares in the last quarter. WFG Advisors LP increased its holdings 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 purchasing an additional 2,537 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings 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 purchasing an additional 6,540 shares in the last quarter. Finally, Nelson Roberts Investment Advisors LLC increased its holdings in shares of Snap by 10,033.0% in the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 10,133 shares of the company’s stock worth $147,000 after purchasing an additional 10,033 shares in the last quarter. 18.88% of the stock is owned by institutional investors and hedge funds.
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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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