Snap’s (NYSE:SNAP) “Sell” Rating Reiterated at Pivotal Research
Snap Inc. (NYSE:SNAP)‘s stock had its “sell” rating reissued by equities research analysts at Pivotal Research in a report released on Thursday, July 13th. They currently have a $9.00 price objective on the stock. Pivotal Research’s price objective would suggest a potential downside of 30.88% from the stock’s current price.
Other analysts also recently issued research reports about the company. UBS AG assumed coverage on Snap in a research report on Monday, March 27th. They issued a “neutral” rating and a $24.00 target price on the stock. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $15.00 target price (down previously from $22.00) on shares of Snap in a research report on Friday, May 12th. Summit Redstone assumed coverage on Snap in a research report on Monday, March 27th. They issued a “sell” rating and a $17.00 target price on the stock. Barclays PLC lowered their target price on Snap from $23.00 to $20.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 11th. Finally, Needham & Company LLC reaffirmed an “underperform” rating and issued a $27.00 target price on shares of Snap in a research report on Thursday, May 11th. Nine analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $21.02.
Snap (SNAP) opened at 13.02 on Thursday. The firm’s market capitalization is $15.35 billion. Snap has a 12 month low of $11.90 and a 12 month high of $29.44. The firm has a 50 day moving average price of $15.61 and a 200-day moving average price of $19.35.
Snap (NYSE:SNAP) last released its earnings results on Wednesday, May 10th. The company reported ($2.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.05) by $0.26. The company had revenue of $149.60 million during the quarter, compared to analyst estimates of $158.32 million. The business’s quarterly revenue was up 285.6% on a year-over-year basis. On average, equities analysts forecast that Snap will post ($0.57) EPS for the current year.
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Large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in Snap during the first quarter valued at $252,388,000. US Bancorp DE bought a new position in shares of Snap during the first quarter valued at about $101,000. Global X Management Co. LLC bought a new position in shares of Snap during the first quarter valued at about $3,650,000. KPCB DGF Associates LLC bought a new position in shares of Snap during the first quarter valued at about $40,911,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Snap during the first quarter valued at about $369,000. Hedge funds and other institutional investors own 30.16% of the company’s stock.
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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