Snap (SNAP) Upgraded to “Outperform” by Royal Bank of Canada
Royal Bank of Canada upgraded shares of Snap (NYSE:SNAP) from a sector perform rating to an outperform rating in a report published on Wednesday, MarketBeat.com reports.
Several other brokerages have also recently weighed in on SNAP. BidaskClub cut shares of Snap from a hold rating to a sell rating in a research report on Thursday, October 26th. Vetr raised shares of Snap from a hold rating to a strong-buy rating and set a $18.29 price target on the stock in a research report on Thursday, October 19th. Zacks Investment Research raised shares of Snap from a hold rating to a buy rating and set a $16.00 price target on the stock in a research report on Wednesday, January 17th. Pivotal Research reaffirmed a sell rating and issued a $10.00 price target on shares of Snap in a research report on Wednesday, January 10th. Finally, UBS Group cut shares of Snap from a neutral rating to a sell rating and dropped their price target for the company from $12.00 to $7.00 in a research report on Wednesday, November 8th. Fourteen equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $18.25.
Snap (NYSE:SNAP) opened at $18.80 on Wednesday. Snap has a 1 year low of $11.28 and a 1 year high of $29.44. The firm has a market cap of $21,950.00 and a PE ratio of -5.68.
Hedge funds have recently modified their holdings of the company. First Manhattan Co. increased its stake in shares of Snap by 384.5% during the 3rd quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock worth $110,000 after purchasing an additional 6,056 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in shares of Snap by 967.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,005 shares of the company’s stock worth $116,000 after purchasing an additional 7,255 shares during the last quarter. WFG Advisors LP increased its stake in shares of Snap by 52.4% during the 2nd quarter. WFG Advisors LP now owns 7,377 shares of the company’s stock worth $131,000 after purchasing an additional 2,537 shares during the last quarter. Nelson Roberts Investment Advisors LLC increased its stake in shares of Snap by 10,033.0% during the 3rd quarter. Nelson Roberts Investment Advisors LLC now owns 10,133 shares of the company’s stock worth $147,000 after purchasing an additional 10,033 shares during the last quarter. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of Snap during the 2nd quarter worth approximately $148,000. Institutional investors own 18.97% of the company’s stock.
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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.
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