Snap (NYSE:SNAP) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday. They currently have a $15.73 price target on the stock. Vetr‘s price target would indicate a potential upside of 5.29% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Goldman Sachs Group reaffirmed a “buy” rating and issued a $23.00 target price (down previously from $27.00) on shares of Snap in a research note on Friday, August 11th. Drexel Hamilton reaffirmed a “buy” rating and issued a $30.00 target price on shares of Snap in a research note on Wednesday, August 9th. Deutsche Bank reissued a “buy” rating and set a $20.00 price objective on shares of Snap in a research report on Wednesday, August 9th. Stifel Nicolaus lowered their price objective on shares of Snap from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Friday, August 11th. Finally, Jefferies Group lowered their price objective on shares of Snap from $30.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, August 11th. Sixteen research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $17.11.

Shares of Snap (NYSE:SNAP) traded up $1.37 during midday trading on Tuesday, reaching $14.94. 51,465,022 shares of the company traded hands, compared to its average volume of 25,505,475. Snap has a fifty-two week low of $11.28 and a fifty-two week high of $29.44.

Snap (NYSE:SNAP) last issued its earnings results on Tuesday, November 7th. The company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.17. The firm had revenue of $207.90 million during the quarter, compared to the consensus estimate of $236.71 million. The firm’s revenue was up 62.2% compared to the same quarter last year. equities analysts predict that Snap will post -3.04 EPS for the current fiscal year.

In other Snap news, VP Timothy Sehn sold 400,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $14.85, for a total value of $5,940,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Steven Michael Horowitz sold 286,332 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $12.54, for a total transaction of $3,590,603.28. Following the completion of the sale, the vice president now owns 2,532,598 shares of the company’s stock, valued at approximately $31,758,778.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,751,851 shares of company stock valued at $49,485,124.

A number of hedge funds have recently made changes to their positions in SNAP. BlackRock Inc. lifted its stake in shares of Snap by 10.0% during the 2nd quarter. BlackRock Inc. now owns 10,343,549 shares of the company’s stock worth $183,805,000 after buying an additional 936,791 shares during the last quarter. Brighton Jones LLC acquired a new stake in shares of Snap during the 2nd quarter worth about $312,000. State Treasurer State of Michigan acquired a new stake in shares of Snap during the 3rd quarter worth about $15,714,000. Baker Avenue Asset Management LP acquired a new stake in shares of Snap during the 2nd quarter worth about $518,000. Finally, Hodges Capital Management Inc. acquired a new stake in shares of Snap during the 3rd quarter worth about $7,997,000. Hedge funds and other institutional investors own 18.88% of the company’s stock.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Snap (NYSE:SNAP)

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