Snap Inc. (SNAP) Earns Hold Rating from Cowen and Company

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

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.

TRADEMARK VIOLATION WARNING: “Snap Inc. (SNAP) Earns Hold Rating from Cowen and Company” was originally posted by BBNS and is the property of of BBNS. If you are viewing this article on another site, it was copied illegally and republished in violation of U.S. & international copyright legislation. The original version of this article can be viewed at https://baseballnewssource.com/markets/snap-inc-snap-earns-hold-rating-from-cowen-and-company/1773841.html.

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.

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 our FREE daily email newsletter.

 


Latest News

Alex Cobb Could Be Good Fit for Cubs
Alex Cobb Could Be Good Fit for Cubs
Joey Votto Is One of Baseball’s Best Hitters
Joey Votto Is One of Baseball’s Best Hitters
Hunter Pence May Become Part-Time Player
Hunter Pence May Become Part-Time Player
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Perfect 300 Bowled by Red Sox Right Fielder Mookie Betts
Brandon Morrow Becomes Hot Commodity
Brandon Morrow Becomes Hot Commodity
Red Sox Want Sluggers, Giancarlo Stanton May Become Available
Red Sox Want Sluggers, Giancarlo Stanton May Become Available


Leave a Reply

 
© 2006-2017 BBNS.