Snap Inc. (SNAP) Receives Market Perform Rating from Raymond James Financial, Inc.
Snap Inc. (NYSE:SNAP)‘s stock had its “market perform” rating reiterated by analysts at Raymond James Financial, Inc. in a research report issued to clients and investors on Friday, May 12th.
A number of other research firms have also issued reports on SNAP. Needham & Company LLC began coverage on Snap in a report on Monday, March 6th. They set an “underperform” rating and a $28.37 price target on the stock. Susquehanna Bancshares Inc began coverage on Snap in a report on Friday, March 3rd. They set a “neutral” rating and a $22.00 price target on the stock. Atlantic Securities lowered Snap from a “neutral” rating to an “underweight” rating and set a $14.00 price target on the stock. in a report on Friday, March 3rd. Loop Capital began coverage on Snap in a report on Monday, March 27th. They set a “hold” rating and a $21.00 price target on the stock. Finally, Cantor Fitzgerald raised Snap from an “underweight” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $17.00 in a report on Thursday, May 11th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $21.84.
Shares of Snap (NYSE:SNAP) traded up 3.18% during mid-day trading on Friday, reaching $17.54. The company’s stock had a trading volume of 18,955,724 shares. Snap has a 52 week low of $17.00 and a 52 week high of $29.44. The company’s 50-day moving average is $20.48 and its 200-day moving average is $21.10. The stock’s market capitalization is $20.68 billion. Snap also saw unusually large options trading on Friday. Stock investors purchased 37,110 call options on the stock. This is an increase of approximately 133% compared to the typical daily volume of 15,938 call options.
Snap (NYSE:SNAP) last issued its quarterly earnings data on Wednesday, May 10th. The company reported ($2.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.05) by $0.26. The business had revenue of $149.60 million during the quarter, compared to the consensus estimate of $158.32 million. The business’s revenue for the quarter was up 285.6% on a year-over-year basis. Equities analysts predict that Snap will post ($0.55) EPS for the current year.
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Several large investors have recently bought and sold shares of SNAP. FMR LLC acquired a new position in shares of Snap during the first quarter worth $737,133,000. JPMorgan Chase & Co. acquired a new position in shares of Snap during the first quarter worth $252,388,000. BlackRock Inc. acquired a new position in shares of Snap during the first quarter worth $211,934,000. Vanguard Group Inc. acquired a new position in shares of Snap during the first quarter worth $152,135,000. Finally, Jennison Associates LLC acquired a new position in shares of Snap during the first quarter worth $119,178,000. Institutional investors own 29.57% of the company’s stock.
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.
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