Snap Inc (NYSE:SNAP) was the target of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 118,378,391 shares, an increase of 25.2% from the January 12th total of 94,583,793 shares. Based on an average daily volume of 16,004,409 shares, the short-interest ratio is currently 7.4 days. Currently, 27.7% of the shares of the stock are sold short.
Several brokerages recently commented on SNAP. Stifel Nicolaus upped their price target on shares of Snap from $13.00 to $17.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Citigroup upped their price target on shares of Snap to $18.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. They noted that the move was a valuation call. Royal Bank of Canada upgraded shares of Snap from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, February 7th. Wedbush restated a “hold” rating and issued a $12.50 price target on shares of Snap in a research report on Wednesday, February 7th. Finally, JPMorgan Chase & Co. upgraded shares of Snap from an “underweight” rating to a “neutral” rating and set a $10.00 price target for the company in a research report on Wednesday, February 7th. Fourteen equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have issued a buy rating to the company. Snap presently has a consensus rating of “Hold” and an average target price of $18.25.
In related news, Director Mitchell Lasky sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $12.38, for a total transaction of $309,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Andrew Vollero sold 94,781 shares of the stock in a transaction that occurred on Saturday, February 17th. The shares were sold at an average price of $18.51, for a total transaction of $1,754,396.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,230,407 shares of company stock valued at $32,578,428.
Snap (NYSE SNAP) opened at $18.80 on Monday. Snap has a 12 month low of $11.28 and a 12 month high of $29.44. The company has a market cap of $22,640.00 and a price-to-earnings ratio of -5.68.
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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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