Snap Inc. (NYSE:SNAP)‘s stock had its “buy” rating reiterated by investment analysts at Royal Bank Of Canada in a note issued to investors on Tuesday, July 11th. They currently have a $31.00 target price on the stock. Royal Bank Of Canada’s price target points to a potential upside of 129.29% from the stock’s previous close.

A number of other research analysts have also weighed in on SNAP. Vetr raised Snap from a “strong sell” rating to a “sell” rating and set a $20.40 target price for the company in a report on Monday, March 13th. Cantor Fitzgerald initiated coverage on Snap in a research report on Tuesday, March 14th. They set an “underweight” rating and a $18.00 price target for the company. Moffett Nathanson initiated coverage on Snap in a research report on Thursday, March 16th. They set a “sell” rating and a $15.00 price target for the company. Needham & Company LLC reiterated an “underperform” rating on shares of Snap in a research report on Thursday, March 16th. Finally, Mizuho initiated coverage on Snap in a research report on Friday, March 17th. They set a “neutral” rating and a $20.00 price target for the company. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and fourteen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $21.03.

Snap (NYSE:SNAP) opened at 13.52 on Tuesday. The firm’s market cap is $15.94 billion. The stock’s 50 day moving average is $16.13 and its 200 day moving average is $19.59. Snap has a 52 week low of $12.83 and a 52 week high of $29.44.

Snap (NYSE:SNAP) last posted its earnings results on Wednesday, May 10th. The company reported ($2.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($2.05) by $0.26. The business had revenue of $149.60 million during the quarter, compared to analyst estimates of $158.32 million. The firm’s revenue for the quarter was up 285.6% on a year-over-year basis. Equities research analysts expect that Snap will post ($0.57) EPS for the current year.

WARNING: This story was published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another publication, it was stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this story can be read at https://www.thecerbatgem.com/2017/08/07/snap-inc-nysesnap-given-buy-rating-at-royal-bank-of-canada-updated-updated-updated.html.

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in Snap during the first quarter valued at approximately $525,000. US Bancorp DE bought a new stake in Snap during the first quarter valued at approximately $101,000. First Trust Advisors LP bought a new stake in Snap during the first quarter valued at approximately $10,130,000. Commerzbank Aktiengesellschaft FI bought a new stake in Snap during the first quarter valued at approximately $2,837,000. Finally, Geneva Advisors LLC bought a new stake in Snap during the first quarter valued at approximately $406,000. 29.61% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Snap (NYSE:SNAP)

Receive News & Stock Ratings for Snap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap Inc. and related stocks with our FREE daily email newsletter.