Snap Inc. (NYSE:SNAP)‘s stock had its “neutral” rating reiterated by investment analysts at Bank of America Corporation in a research note issued on Friday. They presently have a $17.00 target price on the stock, down from their prior target price of $20.00. Bank of America Corporation’s price objective suggests a potential upside of 43.70% from the company’s previous close.

A number of other analysts have also commented on the stock. Jefferies Group LLC restated a “buy” rating and set a $30.00 price target on shares of Snap in a research note on Monday, April 17th. Barclays PLC reiterated a “sell” rating on shares of Snap in a research note on Friday, April 14th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of Snap in a research note on Monday, April 17th. Vetr lowered shares of Snap from a “buy” rating to a “hold” rating and set a $22.54 target price for the company. in a research note on Thursday, April 27th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $23.00 target price on shares of Snap in a research note on Tuesday, July 11th. Nine research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have given a buy rating to the stock. Snap has an average rating of “Hold” and a consensus price target of $19.42.

Snap (NYSE SNAP) traded down 14.09% on Friday, reaching $11.83. 83,786,599 shares of the company were exchanged. The company’s 50-day moving average price is $15.27 and its 200-day moving average price is $19.19. Snap has a 12-month low of $11.77 and a 12-month high of $29.44. The stock’s market capitalization is $13.95 billion. Snap also was the target of some unusual options trading activity on Thursday. Investors bought 65,962 put options on the company. This represents an increase of approximately 173% compared to the typical volume of 24,199 put options.

Snap (NYSE:SNAP) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by $0.07. The business had revenue of $181.70 million for the quarter, compared to analyst estimates of $186.49 million. Snap’s revenue for the quarter was up 153.1% on a year-over-year basis. Equities research analysts anticipate that Snap will post ($0.56) earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://www.watchlistnews.com/bank-of-america-corporation-reiterates-neutral-rating-for-snap-inc-nysesnap/1474441.html.

Hedge funds have recently made changes to their positions in the company. US Bancorp DE acquired a new stake in shares of Snap during the first quarter worth approximately $101,000. Seven Bridges Advisors LLC acquired a new stake in shares of Snap during the second quarter worth approximately $101,000. WFG Advisors LP acquired a new stake in shares of Snap during the first quarter worth approximately $109,000. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Snap by 654.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company’s stock worth $134,000 after buying an additional 6,540 shares during the last quarter. Finally, Dubuque Bank & Trust Co. acquired a new stake in shares of Snap during the second quarter worth approximately $137,000. 30.16% of the stock is owned by institutional investors.

About Snap

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 & 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 companies with Analyst Ratings Network's FREE daily email newsletter.