Recent Analysts’ Ratings Updates for Snap (SNAP)

A number of research firms have changed their ratings and price targets for Snap (NYSE: SNAP):

  • 2/8/2018 – Snap was downgraded by analysts at Susquehanna Bancshares Inc from a “neutral” rating to a “sell” rating.
  • 2/8/2018 – Snap had its “buy” rating reaffirmed by analysts at Goldman Sachs Group Inc. They now have a $23.00 price target on the stock, up previously from $18.00.
  • 2/8/2018 – Snap had its “sell” rating reaffirmed by analysts at Pivotal Research. They now have a $10.00 price target on the stock. They wrote, “We see the advertiser expansion as an important source of revenue diversification and reflects Snap’s capacity to grow revenue through a broadening of its addressable market. On the other hand, we can infer this result at least partially reflects some degree of deceleration in spending from large brands, which generally view Snap as a niche platform rather than something core to their typical campaigns. However, comments indicating that “of the Top 100 Ad Age Advertisers that started advertising with (Snap) in Q1 of 2016 or earlier, each one of them, at a parent level, also spent with (Snap) in 2017 and over 90 percent of them spent in every quarter of 2017.” Although it does not convey the growth rate of like-for-like advertisers, we think it does reflect a degree of durability for the platform among brands who use it.””
  • 2/8/2018 – Snap had its “hold” rating reaffirmed by analysts at Aegis. They now have a $18.00 price target on the stock, up previously from $13.00. They wrote, “We suspect that Snap was a beneficiary of ad dollars that could not make its way onto Facebook/Instagram due either to pricing or tight inventory. That may not recur in non-seasonal quarters. The silver lining for the future is that in tests of the app redesign, Snap saw increased ARPU, time spent, and engagement. Remains to be seen whether that applies all over. We remain at Hold but increased our price target to $18 from $13 on higher estimates. Salient Points: (1) gross margin increased 1,400bps QoQ to 36% and cash burn decreased 49% QoQ; (2) the retention rate of new Android users increased by ~20%; (3) over 90% of Snap Ads were bought programmatically, up from 10% in 4Q16, and 80% in 3Q17; (4) Snap Ad pricing decreased 15% QoQ and 70% YoY; (5) Snap Ad impressions grew 90% QoQ and 575% YoY; (6) each week, half of the U.S.””
  • 2/8/2018 – Snap was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $22.73 price target on the stock.
  • 2/7/2018 – Snap was upgraded by analysts at Summit Redstone from a “sell” rating to a “hold” rating. They now have a $16.00 price target on the stock.
  • 2/7/2018 – Snap had its price target raised by analysts at Oppenheimer Holdings Inc. from $14.00 to $19.00. They now have an “outperform” rating on the stock.
  • 2/7/2018 – Snap had its price target raised by analysts at Morgan Stanley from $10.00 to $11.00. They now have an “underweight” rating on the stock.
  • 2/7/2018 – Snap had its price target raised by analysts at Stifel Nicolaus from $13.00 to $17.00. They now have a “buy” rating on the stock.
  • 2/7/2018 – Snap had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $21.00 price target on the stock, up previously from $18.00.
  • 2/7/2018 – Snap had its “negative” rating reaffirmed by analysts at Susquehanna Bancshares Inc. They now have a $22.00 price target on the stock.
  • 2/7/2018 – Snap had its “hold” rating reaffirmed by analysts at Wedbush. They now have a $12.50 price target on the stock.
  • 2/7/2018 – Snap was upgraded by analysts at Bank of America Corp from a “neutral” rating to a “buy” rating. They now have a $16.00 price target on the stock.
  • 2/7/2018 – Snap was upgraded by analysts at SunTrust Banks, Inc. from a “sell” rating to a “hold” rating. They now have a $10.00 price target on the stock.
  • 2/7/2018 – Snap was downgraded by analysts at UBS Group AG to a “neutral” rating.
  • 2/7/2018 – Snap was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating. They now have a $10.00 price target on the stock.
  • 2/7/2018 – Snap had its price target raised by analysts at Citigroup Inc to $18.00. They now have a “neutral” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 2/7/2018 – Snap was upgraded by analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating.
  • 2/5/2018 – Snap had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $13.00 price target on the stock.
  • 1/22/2018 – Snap had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $13.00 price target on the stock.
  • 1/17/2018 – Snap was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $16.00 price target on the stock. According to Zacks, “Snap is benefiting from its growing popularity among teenagers. The number of exciting features that Snap provides makes its platform more attractive to users as well as advertisers. Snap is also aggressively ramping up its original content efforts to attract subscribers. We believe the company’s initiatives to improve its service in the international markets and redesign the app to make it simpler will help it accelerate user growth and engagement going forward. The company has mixed record of earnings surprises in recent quarters. However, competition from Facebook and lack of revenue diversification are major concerns for Snap. Shares of Snap have also underperformed the industry since the company was listed.”
  • 1/15/2018 – Snap was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $15.96 price target on the stock.
  • 1/12/2018 – Snap had its “underperform” rating reaffirmed by analysts at Raymond James Financial, Inc..
  • 1/12/2018 – Snap was downgraded by analysts at UBS Group AG from a “market perform” rating to an “underperform” rating.
  • 1/10/2018 – Snap had its “sell” rating reaffirmed by analysts at Pivotal Research. They now have a $10.00 price target on the stock.
  • 1/10/2018 – Snap was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Snap is currently hurt by decelerating growth in advertising revenues and user base. The company’s growth opportunities could be dampened as advertisers will no longer be attracted to the platform because of slowing growth in its user base. Competition from Facebook is a major threat to the company. Lack of revenue diversification is a concern for the company. Shares of Snap have massively underperformed the industry since the company was listed. The company has mixed record of earnings surprises in recent quarters. However, the company is expected to benefit from the growing popularity among teenagers. Launch of innovative features is anticipated to keep the interest of users alive.”
  • 1/9/2018 – Snap had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $18.00 price target on the stock.
  • 1/8/2018 – Snap was downgraded by analysts at Jefferies Group LLC from a “buy” rating to a “hold” rating. They now have a $30.00 price target on the stock, up previously from $14.50.
  • 1/4/2018 – Snap was downgraded by analysts at Cowen Inc from a “market perform” rating to an “underperform” rating. They now have a $11.00 price target on the stock, down previously from $12.00.
  • 12/20/2017 – Snap was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $16.73 price target on the stock.
  • 12/15/2017 – Snap had its “buy” rating reaffirmed by analysts at Drexel Hamilton. They now have a $28.00 price target on the stock.

Shares of Snap Inc (NYSE:SNAP) opened at $18.80 on Monday. Snap Inc has a twelve month low of $11.28 and a twelve month high of $29.44. The stock has a market capitalization of $22,640.00 and a PE ratio of -5.68.

In other Snap news, Director Mitchell Lasky sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $12.53, for a total value of $313,250.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Andrew Vollero sold 94,781 shares of the company’s stock in a transaction that occurred on Saturday, February 17th. The shares were sold at an average price of $18.51, for a total value of $1,754,396.31. The disclosure for this sale can be found here. Insiders have sold 2,230,407 shares of company stock worth $32,578,428 in the last quarter.

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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