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Snap Inc (SNAP) PT Raised to $18.00

Snap Inc logoSnap Inc (NYSE:SNAP) had its price target boosted by Royal Bank of Canada from $17.00 to $18.00 in a research report sent to investors on Thursday, May 11th. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Atlantic Securities assumed coverage on shares of Snap in a report on Tuesday, February 21st. They issued a neutral rating on the stock. Susquehanna Bancshares Inc reaffirmed a neutral rating and issued a $22.00 price target on shares of Snap in a report on Friday, March 17th. Summit Redstone assumed coverage on shares of Snap in a report on Monday, March 27th. They issued a sell rating and a $17.00 price target on the stock. Nomura reaffirmed a sell rating and issued a $28.00 price target (up previously from $16.00) on shares of Snap in a report on Thursday, May 11th. Finally, Barclays PLC lowered their price target on shares of Snap from $23.00 to $20.00 and set an equal weight rating on the stock in a report on Thursday, May 11th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $21.94.

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Snap (NYSE:SNAP) traded down 3.24% during trading on Thursday, hitting $21.22. The stock had a trading volume of 13,374,035 shares. The firm has a 50 day moving average price of $21.09 and a 200-day moving average price of $21.50. The firm’s market capitalization is $25.02 billion. Snap has a 1-year low of $17.59 and a 1-year high of $29.44.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Wednesday, May 10th. The company reported ($2.31) EPS for the quarter, missing analysts’ consensus estimates of ($2.05) by $0.26. The company had revenue of $149.60 million for the quarter, compared to the consensus estimate of $158.32 million. The company’s revenue was up 285.6% on a year-over-year basis. On average, equities research analysts expect that Snap will post ($0.58) EPS for the current year.

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Several institutional investors have recently made changes to their positions in the stock. US Bancorp DE bought a new position in shares of Snap during the first quarter valued at about $101,000. WFG Advisors LP bought a new position in shares of Snap during the first quarter valued at about $109,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Snap during the first quarter valued at about $158,000. Pacer Advisors Inc. bought a new position in shares of Snap during the first quarter valued at about $205,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Snap during the first quarter valued at about $223,000.

Snap Company Profile

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.

12 Month Chart for NYSE:SNAP

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