Snap Inc. (SNAP) Lifted to Hold at BidaskClub
BidaskClub upgraded shares of Snap Inc. (NYSE:SNAP) from a sell rating to a hold rating in a report issued on Thursday.
Several other brokerages also recently weighed in on SNAP. Vetr downgraded Snap from a strong-buy rating to a buy rating and set a $22.78 price objective for the company. in a research report on Wednesday, May 31st. Instinet restated a sell rating on shares of Snap in a research report on Friday, June 2nd. Royal Bank Of Canada restated an outperform rating on shares of Snap in a research report on Saturday, June 3rd. Aegis restated a hold rating on shares of Snap in a research report on Wednesday, May 31st. Finally, J P Morgan Chase & Co restated a neutral rating and set a $18.00 price objective (down from $20.00) on shares of Snap in a research report on Monday, June 5th. Ten research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $18.21.
Snap (NYSE:SNAP) opened at 14.54 on Thursday. Snap has a 12-month low of $14.30 and a 12-month high of $29.44. The company’s market capitalization is $17.41 billion. The company has a 50 day moving average price of $15.03 and a 200-day moving average price of $15.03.
Snap (NYSE:SNAP) last announced its quarterly earnings data on Thursday, August 10th. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The company had revenue of $181.70 million during the quarter, compared to analyst estimates of $186.49 million. The firm’s quarterly revenue was up 153.1% compared to the same quarter last year. On average, analysts anticipate that Snap will post ($0.64) EPS for the current year.
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In related news, CFO Andrew Vollero sold 37,874 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $14.64, for a total transaction of $554,475.36. Following the completion of the sale, the chief financial officer now owns 1,797,644 shares of the company’s stock, valued at $26,317,508.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Imran Khan sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $12.50, for a total value of $1,875,000.00. Following the sale, the insider now directly owns 9,596,464 shares of the company’s stock, valued at approximately $119,955,800. The disclosure for this sale can be found here. Insiders have sold 1,733,598 shares of company stock valued at $23,764,362 in the last ninety days.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNAP. US Bancorp DE acquired a new stake in Snap during the first quarter worth approximately $101,000. Bank of New York Mellon Corp acquired a new stake in Snap during the first quarter worth approximately $525,000. Sei Investments Co. acquired a new stake in Snap during the first quarter worth approximately $1,929,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Snap during the first quarter worth approximately $684,000. Finally, Pacer Advisors Inc. acquired a new stake in Snap during the first quarter worth approximately $205,000. 16.40% of the stock is owned by institutional investors and hedge funds.
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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