Vetr upgraded shares of Snap Inc. (NYSE:SNAP) from a strong sell rating to a hold rating in a report published on Friday. They currently have $16.13 price objective on the stock.
SNAP has been the subject of several other reports. Needham & Company LLC reissued an underperform rating on shares of Snap in a research report on Thursday, October 5th. SunTrust Banks, Inc. reissued a sell rating and set a $10.00 price target on shares of Snap in a research report on Thursday. Cantor Fitzgerald reissued a buy rating and set a $15.00 price target on shares of Snap in a research report on Tuesday, August 22nd. Credit Suisse Group reissued an outperform rating and set a $25.00 price target (down from $30.00) on shares of Snap in a research report on Monday, July 10th. Finally, Canaccord Genuity reissued a hold rating and set a $15.00 price target on shares of Snap in a research report on Sunday, October 1st. Nine research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $18.12.
Shares of Snap (NYSE SNAP) opened at 16.50 on Friday. Snap has a one year low of $11.28 and a one year high of $29.44. The stock’s 50 day moving average price is $14.76 and its 200 day moving average price is $17.23. The firm’s market capitalization is $19.75 billion.
Snap (NYSE:SNAP) last posted its quarterly earnings data on Thursday, August 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.07). The company had revenue of $181.70 million during the quarter, compared to analyst estimates of $186.49 million. The firm’s quarterly revenue was up 153.1% compared to the same quarter last year. Analysts expect that Snap will post ($0.64) EPS for the current fiscal year.
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In other Snap news, VP Timothy Sehn sold 400,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $12.50, for a total transaction of $5,000,000.00. Following the transaction, the vice president now owns 2,204,168 shares in the company, valued at approximately $27,552,100. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Andrew Vollero sold 195,100 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $12.50, for a total value of $2,438,750.00. Following the transaction, the chief financial officer now owns 1,882,280 shares in the company, valued at approximately $23,528,500. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,133,598 shares of company stock valued at $29,704,362.
Institutional investors have recently bought and sold shares of the business. US Bancorp DE bought a new position in Snap during the 1st quarter worth $101,000. BlackRock Inc. increased its stake in Snap by 10.0% during the 2nd quarter. BlackRock Inc. now owns 10,343,549 shares of the company’s stock worth $183,805,000 after acquiring an additional 936,791 shares during the period. Brighton Jones LLC bought a new position in Snap during the 2nd quarter worth $312,000. Baker Avenue Asset Management LP bought a new position in Snap during the 2nd quarter worth $518,000. Finally, Oppenheimer & Co. Inc. bought a new position in Snap during the 1st quarter worth $369,000. Hedge funds and other institutional investors own 16.40% 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.
To view Vetr’s full report, visit Vetr’s official website.
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