Snap’s (SNAP) Equal Weight Rating Reaffirmed at Barclays PLC
Snap Inc. (NYSE:SNAP)‘s stock had its “equal weight” rating reiterated by stock analysts at Barclays PLC in a report released on Thursday, July 13th. They presently have a $18.00 target price on the stock. Barclays PLC’s price objective would suggest a potential upside of 38.25% from the stock’s previous close.
SNAP has been the subject of several other research reports. Piper Jaffray Companies decreased their target price on Snap from $16.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, May 11th. Cantor Fitzgerald raised Snap from an “underweight” rating to a “neutral” rating and decreased their target price for the stock from $18.00 to $17.00 in a research note on Thursday, May 11th. They noted that the move was a valuation call. Wells Fargo & Company began coverage on Snap in a research note on Friday, March 31st. They set a “market perform” rating and a $21.00 target price for the company. J P Morgan Chase & Co initiated coverage on Snap in a research note on Monday, March 27th. They set a “neutral” rating and a $24.00 target price for the company. Finally, Loop Capital reissued a “hold” rating and issued a $21.00 price objective on shares of Snap in a research note on Thursday, April 6th. Nine analysts have rated the stock with a sell rating, twenty have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.02.
Snap (NYSE SNAP) opened at 13.02 on Thursday. Snap has a 52-week low of $11.90 and a 52-week high of $29.44. The company’s market cap is $15.35 billion. The stock’s 50 day moving average is $15.61 and its 200 day moving average is $19.35.
Snap (NYSE:SNAP) last issued its quarterly earnings results on Wednesday, May 10th. The company reported ($2.31) earnings per share for the quarter, missing the consensus estimate of ($2.05) by $0.26. The firm had revenue of $149.60 million during the quarter, compared to the consensus estimate of $158.32 million. The firm’s revenue was up 285.6% on a year-over-year basis. On average, analysts predict that Snap will post ($0.57) earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the company. US Bancorp DE acquired a new position in Snap during the first quarter valued at approximately $101,000. Seven Bridges Advisors LLC acquired a new position in Snap during the second quarter valued at approximately $101,000. WFG Advisors LP acquired a new position in Snap during the first quarter valued at approximately $109,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in Snap by 654.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company’s stock valued at $134,000 after buying an additional 6,540 shares during the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new position in Snap during the second quarter valued at approximately $137,000. Institutional investors and hedge funds 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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