Snap Inc. (NYSE:SNAP) Lowered to “Hold” at Vetr Inc.
Snap Inc. (NYSE:SNAP) was downgraded by stock analysts at Vetr from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday. They currently have a $12.38 price objective on the stock. Vetr‘s price target would suggest a potential downside of 1.75% from the stock’s previous close.
SNAP has been the subject of a number of other research reports. Piper Jaffray Companies lowered their price target on Snap from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, May 11th. Cantor Fitzgerald upgraded Snap from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $17.00 in a report on Thursday, May 11th. They noted that the move was a valuation call. Barclays PLC reduced their target price on Snap from $23.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, May 11th. Monness Crespi & Hardt downgraded Snap from a “buy” rating to a “neutral” rating in a report on Friday. Finally, Aegis reiterated a “hold” rating on shares of Snap in a report on Wednesday, May 31st. Nine investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Snap currently has a consensus rating of “Hold” and an average target price of $18.84.
Shares of Snap (NYSE SNAP) opened at 12.60 on Tuesday. The firm’s market cap is $8.60 billion. The company’s 50-day moving average price is $14.96 and its 200 day moving average price is $19.07. Snap has a 1-year low of $11.28 and a 1-year high of $29.44.
Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by $0.07. The business had revenue of $181.70 million during 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. On average, analysts predict that Snap will post ($0.59) EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. acquired a new position in Snap during the first quarter valued at about $158,000. BNP Paribas Arbitrage SA acquired a new position in Snap during the first quarter valued at about $1,026,000. Suntrust Banks Inc. acquired a new position in Snap during the first quarter valued at about $582,000. Bank of New York Mellon Corp acquired a new position in Snap during the first quarter valued at about $525,000. Finally, US Bancorp DE acquired a new position in Snap during the first quarter valued at about $101,000. 29.24% of the stock is currently owned by institutional investors and hedge funds.
Snap Company Profile
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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