Snap (NYSE:SNAP) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday. They presently have a $22.73 target price on the stock. Vetr‘s price objective would suggest a potential upside of 20.90% from the company’s previous close.
Several other analysts also recently weighed in on SNAP. Oppenheimer lifted their price objective on shares of Snap from $14.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday. Summit Redstone upgraded shares of Snap from a “sell” rating to a “hold” rating and set a $16.00 price objective on the stock in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of Snap from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Wednesday. Zacks Investment Research downgraded shares of Snap from a “hold” rating to a “sell” rating in a research report on Wednesday, October 18th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $28.00 price objective on shares of Snap in a research report on Friday, December 15th. Fourteen investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.25.
Snap (NYSE:SNAP) traded down $0.59 during trading on Thursday, hitting $18.80. 50,072,813 shares of the stock were exchanged, compared to its average volume of 29,040,000. Snap has a one year low of $11.28 and a one year high of $29.44. The company has a market cap of $22,640.00 and a P/E ratio of -5.68.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Snap by 17.8% in the 4th quarter. BlackRock Inc. now owns 11,648,770 shares of the company’s stock worth $170,188,000 after purchasing an additional 1,762,106 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Snap by 23.7% in the second 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 in the last quarter. JPMorgan Chase & Co. increased its position in shares of Snap by 11.6% in the third quarter. JPMorgan Chase & Co. now owns 7,650,826 shares of the company’s stock worth $110,556,000 after acquiring an additional 797,290 shares in the last quarter. First Trust Advisors LP increased its position in shares of Snap by 11.3% in the fourth quarter. First Trust Advisors LP now owns 6,546,551 shares of the company’s stock worth $95,645,000 after acquiring an additional 662,450 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Snap by 73.4% in the third quarter. Allianz Asset Management GmbH now owns 4,529,005 shares of the company’s stock worth $65,852,000 after acquiring an additional 1,916,830 shares in the last quarter. 18.97% of the stock is currently owned by institutional investors.
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.
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