The Snap Inc (SNAP) Rating Reiterated by Morgan Stanley

The Snap Inc (SNAP) Rating Reiterated by Morgan Stanley

A number of other equities analysts also recently issued reports on the company. Goldman Sachs Group Inc reiterated a buy rating and set a $28.00 price target on shares of Snap in a research note on Thursday, May 11th. Needham & Company LLC reiterated an underperform rating and set a $27.00 price target on shares of Snap in a research note on Thursday, May 11th. William Blair cut their price target on Snap from $16.00 to $14.00 and set an outperform rating for the company in a research note on Thursday, May 11th. Instinet reiterated a reduce rating and set a $14.00 price target (down previously from $16.00) on shares of Snap in a research note on Thursday, May 11th. Finally, Piper Jaffray Companies dropped their target price on shares of Snap from $16.00 to $14.00 and set a neutral rating on the stock in a research report on Thursday, May 11th. Eight research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Snap presently has an average rating of Hold and a consensus price target of $21.91.

Morgan Stanley reaffirmed their overweight rating on shares of Snap Inc (NYSE:SNAP) in a research report sent to investors on Thursday, May 11th. The firm currently has a $31.00 price objective on the stock.

Shares of Snap (SNAP) opened at 21.09 on Thursday. Snap has a 12-month low of $17.59 and a 12-month high of $29.44. The company’s market cap is $24.86 billion. The company’s 50-day moving average price is $21.18 and its 200 day moving average price is $21.48. Snap (NYSE:SNAP) last released its quarterly earnings results on Wednesday, May 10th. The company reported ($2.31) earnings per share (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 analyst estimates of $158.32 million. Snap had a negative net margin of 1,476.02% and a negative return on equity of 337.23%. The company’s quarterly revenue was up 285.6% on a year-over-year basis. Equities analysts predict that Snap will post ($0.57) earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. FMR LLC acquired a new stake in shares of Snap during the first quarter worth about $737,133,000. JPMorgan Chase & Co. acquired a new stake in shares of Snap during the first quarter worth about $252,388,000. BlackRock Inc. acquired a new stake in shares of Snap during the first quarter worth about $211,934,000. Vanguard Group Inc. purchased a new position in Snap during the first quarter worth approximately $152,135,000. Finally, Jennison Associates LLC purchased a new position in Snap during the first quarter worth approximately $119,178,000. 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SNAP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Related posts

Leave a Comment