Snap’s (SNAP) Overweight Rating Reaffirmed at Barclays
Barclays restated their overweight rating on shares of Snap (NYSE:SNAP) in a research note issued to investors on Wednesday morning. The firm currently has a $21.00 price objective on the stock, up from their prior price objective of $18.00.
Several other analysts have also recently issued reports on SNAP. Credit Suisse Group reiterated an outperform rating and issued a $20.00 target price (up from $17.00) on shares of Snap in a research note on Wednesday, October 11th. They noted that the move was a valuation call. Piper Jaffray Companies reiterated a hold rating on shares of Snap in a research note on Wednesday, October 11th. SunTrust Banks restated a sell rating and set a $10.00 price objective on shares of Snap in a research report on Thursday, October 12th. Vetr upgraded shares of Snap from a strong sell rating to a hold rating and set a $16.13 price objective on the stock in a research report on Friday, October 13th. Finally, Zacks Investment Research cut shares of Snap from a hold rating to a sell rating in a research report on Wednesday, October 18th. Fourteen analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $18.25.
Shares of Snap (NYSE SNAP) opened at $18.80 on Wednesday. Snap has a 52 week low of $11.28 and a 52 week high of $29.44. The stock has a market cap of $21,950.00 and a P/E ratio of -5.68.
Institutional investors and hedge funds have recently made changes to their positions in the company. First Manhattan Co. boosted 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 valued at $110,000 after purchasing an additional 6,056 shares in the last quarter. Steward Partners Investment Advisory LLC boosted 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 valued at $116,000 after purchasing an additional 7,255 shares in the last quarter. WFG Advisors LP boosted 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 valued at $131,000 after purchasing an additional 2,537 shares in the last quarter. Nelson Roberts Investment Advisors LLC boosted 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 valued at $147,000 after purchasing an additional 10,033 shares in the last quarter. Finally, Westwood Holdings Group Inc. bought a new stake in shares of Snap during the 2nd quarter valued at about $148,000. 18.97% of the stock is currently owned by hedge funds and other institutional investors.
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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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