Snap (NYSE:SNAP) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday. The firm presently has a $23.05 target price on the stock. Vetr‘s price target suggests a potential upside of 23.66% from the stock’s previous close.
SNAP has been the subject of several other reports. Barclays upgraded shares of Snap from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $11.00 to $18.00 in a research note on Tuesday, December 5th. Bank of America upgraded shares of Snap from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Wednesday, February 7th. Susquehanna Bancshares downgraded shares of Snap from a “neutral” rating to a “sell” rating in a research note on Thursday, February 8th. Evercore ISI assumed coverage on shares of Snap in a research note on Tuesday, December 5th. They issued an “underperform” rating and a $7.00 target price for the company. Finally, Deutsche Bank restated a “hold” rating and issued a $13.00 target price on shares of Snap in a research note on Monday, January 22nd. Fifteen analysts have rated the stock with a sell rating, nineteen have given a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.10.
Shares of Snap (NYSE SNAP) opened at $18.64 on Tuesday. The firm has a market cap of $22,450.00 and a P/E ratio of -5.63. Snap has a one year low of $11.28 and a one year high of $29.44.
In other Snap news, CFO Andrew Vollero sold 70,566 shares of Snap stock in a transaction on Monday, December 18th. The shares were sold at an average price of $16.09, for a total value of $1,135,406.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mitchell Lasky sold 25,000 shares of Snap stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $13.30, for a total transaction of $332,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,194,101 shares of company stock valued at $92,145,713.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Manhattan Co. increased its holdings in Snap by 384.5% in the third quarter. First Manhattan Co. now owns 7,631 shares of the company’s stock valued at $110,000 after buying an additional 6,056 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in Snap by 967.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,005 shares of the company’s stock valued at $116,000 after buying an additional 7,255 shares in the last quarter. Nelson Roberts Investment Advisors LLC increased its holdings in Snap by 10,033.0% in the third quarter. Nelson Roberts Investment Advisors LLC now owns 10,133 shares of the company’s stock valued at $147,000 after buying an additional 10,033 shares in the last quarter. Aperio Group LLC purchased a new position in Snap in the fourth quarter valued at $149,000. Finally, First Allied Advisory Services Inc. purchased a new position in Snap in the fourth quarter valued at $152,000. 18.24% of the stock is owned by institutional investors.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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