Snap Inc. (SNAP) Given Buy Rating at Deutsche Bank AG
Snap Inc. (NYSE:SNAP)‘s stock had its “buy” rating restated by stock analysts at Deutsche Bank AG in a research note issued on Wednesday. They currently have a $20.00 price target on the stock. Deutsche Bank AG’s price objective suggests a potential upside of 45.24% from the stock’s current price.
A number of other research firms have also recently commented on SNAP. UBS AG raised shares of Snap from a “market perform” rating to an “outperform” rating and decreased their target price for the company from $24.00 to $19.00 in a research report on Thursday, May 11th. Citigroup Inc. reaffirmed a “buy” rating and issued a $24.00 price target (down previously from $27.00) on shares of Snap in a report on Thursday, May 11th. J P Morgan Chase & Co decreased their price target on shares of Snap from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, May 11th. Stifel Nicolaus decreased their price target on shares of Snap from $27.00 to $24.00 and set a “hold” rating for the company in a report on Thursday, May 11th. Finally, Oppenheimer Holdings, Inc. raised shares of Snap from a “market perform” rating to an “outperform” rating and set a $23.00 price target for the company in a report on Thursday, May 11th. Nine analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have given a buy rating to the company. Snap has a consensus rating of “Hold” and an average target price of $20.22.
Shares of Snap (NYSE SNAP) traded down 10.9717% during midday trading on Wednesday, hitting $12.2592. 38,482,089 shares of the company traded hands. The company has a 50-day moving average price of $15.27 and a 200-day moving average price of $19.19. The stock’s market capitalization is $14.45 billion. Snap has a 52 week low of $11.81 and a 52 week high of $29.44. Snap also saw some unusual options trading activity on Thursday. Traders bought 65,962 put options on the company. This is an increase of approximately 173% compared to the typical volume of 24,199 put options.
Snap (NYSE:SNAP) last posted its 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 company had revenue of $181.70 million for the quarter, compared to the consensus estimate of $186.49 million. Snap’s revenue was up 153.1% on a year-over-year basis. Analysts anticipate that Snap will post ($0.56) earnings per share for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in SNAP. FMR LLC purchased a new stake in Snap during the first quarter valued at approximately $737,133,000. JPMorgan Chase & Co. purchased a new stake in Snap during the first quarter valued at approximately $252,388,000. BlackRock Inc. purchased a new stake in Snap during the first quarter valued at approximately $211,934,000. Vanguard Group Inc. purchased a new stake in Snap during the first quarter valued at approximately $152,135,000. Finally, Jennison Associates LLC purchased a new stake in Snap during the first quarter valued at approximately $119,178,000. Institutional investors own 30.16% 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.
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