Several other research analysts have also recently issued reports on SNAP. Pivotal Research reiterated a sell rating and set a $9.00 target price on shares of Snap in a report on Thursday, July 13th. Barclays PLC reiterated an equal weight rating and set a $18.00 target price on shares of Snap in a report on Thursday, July 13th. Stifel Nicolaus upgraded shares of Snap from a hold rating to a buy rating and increased their target price for the stock from $15.24 to $22.00 in a report on Thursday, July 13th. Piper Jaffray Companies reiterated a neutral rating and set a $16.50 target price (down from $20.00) on shares of Snap in a report on Thursday, July 13th. Finally, Drexel Hamilton reiterated a buy rating and set a $30.00 target price on shares of Snap in a report on Monday, July 17th. Fifteen investment analysts have rated the stock with a sell rating, twenty 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 $17.12.
Snap (NYSE:SNAP) opened at $12.40 on Friday. Snap has a 1-year low of $11.28 and a 1-year high of $29.44.
Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.31) by $0.17. The company had revenue of $207.90 million during the quarter, compared to the consensus estimate of $236.71 million. The business’s revenue was up 62.2% compared to the same quarter last year. equities analysts anticipate that Snap will post -3.04 earnings per share for the current fiscal year.
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In other news, VP Timothy Sehn sold 400,000 shares of Snap stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $14.59, for a total transaction of $5,836,000.00. Following the completion of the transaction, the vice president now directly owns 2,669,279 shares of the company’s stock, valued at approximately $38,944,780.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Andrew Vollero sold 37,874 shares of Snap stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $14.64, for a total transaction of $554,475.36. Following the transaction, the chief financial officer now directly owns 1,797,644 shares of the company’s stock, valued at $26,317,508.16. The disclosure for this sale can be found here. Insiders have sold a total of 1,788,498 shares of company stock valued at $26,226,612 over the last three months.
Several large investors have recently bought and sold shares of SNAP. Bank of New York Mellon Corp purchased a new position in shares of Snap during the 1st quarter valued at approximately $525,000. Vanguard Group Inc. purchased a new position in shares of Snap during the 1st quarter valued at approximately $152,135,000. BlackRock Inc. purchased a new position in shares of Snap during the 1st quarter valued at approximately $211,934,000. Credit Suisse AG purchased a new position in shares of Snap during the 1st quarter valued at approximately $799,000. Finally, NN Investment Partners Holdings N.V. increased its holdings in shares of Snap by 6.3% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company’s stock valued at $754,000 after purchasing an additional 2,530 shares in the last quarter. 17.33% of the stock is owned by hedge funds and other institutional investors.
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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