Press coverage about Snap (NYSE:SNAP) has been trending somewhat positive this week, Accern Sentiment Analysis reports. The research group identifies positive and negative news coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Snap earned a daily sentiment score of 0.21 on Accern’s scale. Accern also gave press coverage about the company an impact score of 45.9615728713381 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
These are some of the headlines that may have effected Accern’s scoring:
- Drexel Hamilton Bets on Snap Inc’s (SNAP) Strong Upside Potential Over the Next 12 Months – Smarter Analyst (smarteranalyst.com)
- Snap Inc (SNAP) PT Raised to $17 at Cantor Fitzgerald, Monetization Upside “significant” – StreetInsider.com (streetinsider.com)
- Snap Inc. Is Adding College Newspapers to Its Discover Section … – Madison.com (host.madison.com)
- Snapchat is bringing virtual Bitmojis into the real world (SNAP) (sfgate.com)
- Seaweed Market 2023 Major Market Players – Cargill Foods, Ingredients Solutions Inc., Snap Alginates, Arthur Branwell & Co. Ltd (sbwire.com)
Several equities research analysts recently weighed in on SNAP shares. Vetr lowered shares of Snap from a “strong-buy” rating to a “buy” rating and set a $22.78 price objective on the stock. in a research note on Wednesday, May 31st. Drexel Hamilton reiterated a “buy” rating and set a $30.00 price objective on shares of Snap in a research note on Wednesday, May 24th. Jefferies Group LLC reiterated a “buy” rating and set a $30.00 price objective on shares of Snap in a research note on Monday, May 22nd. Royal Bank Of Canada reiterated a “buy” rating and set a $31.00 price objective on shares of Snap in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus upgraded shares of Snap from a “hold” rating to a “buy” rating and upped their target price for the stock from $15.24 to $22.00 in a research report on Thursday, July 13th. Ten research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.31.
Shares of Snap (NYSE:SNAP) traded up 1.41% during mid-day trading on Friday, hitting $15.12. 18,434,636 shares of the stock were exchanged. Snap has a 12-month low of $14.82 and a 12-month high of $29.44. The stock’s market capitalization is $18.10 billion. The stock’s 50 day moving average price is $15.09 and its 200-day moving average price is $18.65.
Snap (NYSE:SNAP) last posted its quarterly earnings results on Thursday, August 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The company had revenue of $181.70 million for the quarter, compared to analyst estimates of $186.49 million. Snap’s quarterly revenue was up 153.1% on a year-over-year basis. On average, equities research analysts expect that Snap will post ($0.64) EPS for the current fiscal year.
In other Snap news, VP Timothy Sehn sold 400,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $12.50, for a total transaction of $5,000,000.00. Following the transaction, the vice president now directly owns 2,204,168 shares in the company, valued at approximately $27,552,100. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Imran Khan sold 150,000 shares of Snap stock in a transaction 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 owns 9,596,464 shares in the company, valued at $119,955,800. The disclosure for this sale can be found here. In the last three months, insiders sold 1,695,724 shares of company stock valued at $23,209,887.
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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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