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.

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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.

Analyst Recommendations for Snap (NYSE:SNAP)

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