Snap Inc (SNAP) Shares Rating Lowered by Vetr Inc.

Snap Inc (SNAP) Shares Rating Lowered by Vetr Inc.

Snap Inc (NYSE:SNAP) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Wednesday. They presently have a $22.78 price target on the stock. Vetr‘s price target would indicate a potential upside of 6.75% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Atlantic Securities assumed coverage on shares of Snap in a research note on Tuesday, February 21st. They issued a “neutral” rating for the company. Susquehanna Bancshares Inc restated a “neutral” rating and issued a $15.00 price objective (down from $22.00) on shares of Snap in a research note on Friday, May 12th. Summit Redstone began coverage on shares of Snap in a research note on Monday, March 27th. They issued a “sell” rating and a $17.00 price objective for the company. Barclays PLC reduced their price objective on shares of Snap from $23.00 to $20.00 and set an “equal weight” rating for the company in a research note on Thursday, May 11th. Finally, Needham & Company LLC restated an “underperform” rating and issued a $27.00 price objective on shares of Snap in a research note on Thursday, May 11th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seventeen have assigned a buy rating to the company. Snap presently has a consensus rating of “Hold” and a consensus target price of $21.91.

Shares of Snap (NYSE:SNAP) opened at 21.34 on Wednesday. The stock’s market capitalization is $25.16 billion. The company has a 50-day moving average of $21.16 and a 200-day moving average of $21.49. Snap has a 12 month low of $17.59 and a 12 month high of $29.44.

Snap (NYSE:SNAP) last posted its earnings results on Wednesday, May 10th. The company reported ($2.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($2.05) by $0.26. The business had revenue of $149.60 million for the quarter, compared to analysts’ expectations of $158.32 million. The firm’s revenue was up 285.6% compared to the same quarter last year. On average, equities research analysts expect that Snap will post ($0.57) EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in SNAP. US Bancorp DE acquired a new stake in shares of Snap during the first quarter valued at about $101,000. WFG Advisors LP acquired a new stake in shares of Snap during the first quarter valued at about $109,000. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Snap during the first quarter valued at about $158,000. Pacer Advisors Inc. acquired a new stake in shares of Snap during the first quarter valued at about $205,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake 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.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”});

To view Vetr’s full report, visit Vetr’s official website.

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