Cowen and Company restated their hold rating on shares of Snap Inc. (NYSE:SNAP) in a research report report published on Friday. The firm currently has a $12.00 price target on the stock.

Other equities analysts have also issued reports about the stock. Piper Jaffray Companies restated a neutral rating and issued a $16.50 price objective (down from $20.00) on shares of Snap in a report on Thursday, July 13th. SunTrust Banks, Inc. began coverage on shares of Snap in a report on Tuesday, August 15th. They issued a sell rating and a $10.00 price objective on the stock. Zacks Investment Research upgraded shares of Snap from a sell rating to a hold rating in a report on Wednesday, August 16th. Credit Suisse Group cut their price objective on shares of Snap from $20.00 to $17.00 and set an outperform rating on the stock in a report on Wednesday, November 8th. Finally, Drexel Hamilton restated a buy rating and issued a $30.00 price objective on shares of Snap in a report on Monday, July 17th. Fifteen research analysts have rated the stock with a sell rating, twenty have issued a hold rating and twelve have given a buy rating to the company. Snap has an average rating of Hold and a consensus target price of $17.12.

Snap (SNAP) opened at $12.76 on Friday. Snap has a twelve month low of $11.28 and a twelve month high of $29.44.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Tuesday, November 7th. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.17. The business had revenue of $207.90 million during the quarter, compared to analyst estimates of $236.71 million. The business’s quarterly revenue was up 62.2% compared to the same quarter last year. equities analysts forecast that Snap will post -3.04 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Snap Inc. (SNAP) Earns “Hold” Rating from Cowen and Company” was posted by Watch List News and is the property of of Watch List News. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://www.watchlistnews.com/snap-inc-snap-earns-hold-rating-from-cowen-and-company/1699306.html.

In other Snap news, VP Steven Michael Horowitz sold 50,624 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $13.04, for a total value of $660,136.96. Following the completion of the sale, the vice president now owns 2,440,055 shares in the company, valued at $31,818,317.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Timothy Sehn sold 400,000 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $14.34, for a total transaction of $5,736,000.00. Following the completion of the sale, the vice president now owns 2,804,168 shares of the company’s stock, valued at approximately $40,211,769.12. The disclosure for this sale can be found here. Insiders have sold 1,788,498 shares of company stock valued at $26,226,612 in the last 90 days.

A number of hedge funds have recently made changes to their positions in SNAP. BlackRock Inc. acquired a new stake in Snap in the first quarter valued at $211,934,000. Vanguard Group Inc. acquired a new stake in Snap in the first quarter valued at $152,135,000. First Trust Advisors LP lifted its stake in Snap by 873.8% in the third quarter. First Trust Advisors LP now owns 5,884,101 shares of the company’s stock valued at $85,555,000 after acquiring an additional 5,279,883 shares during the last quarter. Valiant Capital Management L.P. lifted its stake in Snap by 379.1% in the third quarter. Valiant Capital Management L.P. now owns 3,215,300 shares of the company’s stock valued at $46,750,000 after acquiring an additional 2,544,200 shares during the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD lifted its stake in Snap by 2,592.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,533,820 shares of the company’s stock valued at $45,025,000 after acquiring an additional 2,439,725 shares during the last quarter. Hedge funds and other institutional investors own 17.33% of the company’s stock.

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.