Morgan Stanley Boosts Snap (SNAP) Price Target to $12.00
A number of other research analysts have also recently commented on the stock. Vetr upgraded shares of Snap from a buy rating to a strong-buy rating and set a $23.05 price target on the stock in a report on Tuesday, February 20th. Credit Suisse Group restated a buy rating and issued a $18.00 price target on shares of Snap in a report on Tuesday, January 9th. Zacks Investment Research upgraded shares of Snap from a hold rating to a buy rating and set a $16.00 price target on the stock in a report on Wednesday, January 17th. Susquehanna Bancshares cut shares of Snap from a neutral rating to a sell rating in a report on Thursday, February 8th. Finally, Raymond James restated an underperform rating on shares of Snap in a report on Friday, January 12th. Twelve research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and thirteen have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $17.36.
SNAP stock opened at $15.20 on Thursday. Snap has a twelve month low of $11.28 and a twelve month high of $23.57. The firm has a market cap of $18,209.17 and a price-to-earnings ratio of -7.31.
In related news, insider Imran Khan sold 250,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $20.04, for a total value of $5,010,000.00. Following the completion of the transaction, the insider now directly owns 9,755,173 shares of the company’s stock, valued at approximately $195,493,666.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mitchell Lasky sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $13.30, for a total transaction of $332,500.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,718,175 shares of company stock valued at $104,411,412.
A number of large investors have recently modified their holdings of SNAP. Bank of New York Mellon Corp increased its holdings in Snap by 573.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 246,721 shares of the company’s stock worth $3,588,000 after buying an additional 210,078 shares during the period. Ameriprise Financial Inc. increased its holdings in Snap by 932.9% in the 3rd quarter. Ameriprise Financial Inc. now owns 161,693 shares of the company’s stock worth $2,351,000 after buying an additional 146,039 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in shares of Snap during the 3rd quarter worth approximately $7,845,000. Stifel Financial Corp grew its stake in shares of Snap by 119.9% during the 3rd quarter. Stifel Financial Corp now owns 87,684 shares of the company’s stock worth $1,267,000 after purchasing an additional 47,816 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Snap by 49.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 64,577 shares of the company’s stock worth $939,000 after purchasing an additional 21,262 shares during the period. Institutional investors own 18.56% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Morgan Stanley Boosts Snap (SNAP) Price Target to $12.00” was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another site, it was copied illegally and republished in violation of United States & international copyright laws. The legal version of this piece of content can be read at https://www.thecerbatgem.com/2018/04/22/morgan-stanley-boosts-snap-snap-price-target-to-12-00.html.
Snap Inc operates as a camera company in the United States and internationally. The company offers Snapchat, a camera application that helps people to communicate through short videos and images. It also provides Camera, a tool to personalize and add context to Snaps; Friends Page that allows to creating and watching stories, chatting with groups, making voice and video calls, and communicating through a range of contextual stickers and Bitmojis; and Discover that helps to surface the most interesting stories from publishers, creators, and the community, based on a user's subscriptions and interests.
Receive News & Ratings for Snap Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap and related companies with MarketBeat.com's FREE daily email newsletter.