Stifel Nicolaus upgraded shares of Snap Inc.
The Rating of Snap (NYSE:SNAP) shares have been cut by Cowen \u0026 Co. from a Outperform rating to a Market Perform rating in a research report revealed on Friday morning. The firm now has a $9.00 target price on the stock. "We highlight our key points below in the attached presentation.", the firm's analyst wrote.
The service will also be available at a further six of the remaining ten races following the British Grand Prix, in the countries of Singapore, Japan, USA, Mexico, Brazil and Abu Dhabi and as F1's Head of Digital, Frank Arthofer explained to Autosport.com recently, this will be F1's initial foray into broadening their social media horizons. Royal Bank Of Canada reiterated a buy rating and set a $31.00 price target on shares of Snap in a report on Tuesday.
Piper Jaffray Companies reaffirmed their neutral rating on shares of Snap Inc. The rating was initiated by Pivotal Research with "Sell" on Thursday, March 2. Barclays PLC restated an equal weight rating and set a $18.00 target price on shares of Snap in a research report on Thursday.
Shares of Snap (NYSE SNAP) opened at 15.69 on Tuesday. The company presently has a consensus rating of "Hold" and an average price target of $21.29. The company's shares were downgraded Friday, the second time this week. The firm has a 50-day moving average of $19.18 and a 200-day moving average of $20.72. The company's market capitalization is $10.70 billion.
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Snap Inc. has a 12-month low of $15.27 and a 12-month high of $29.44. Snap also was the target of unusually large options trading activity on Tuesday. Stock investors purchased 57,414 put options on the stock.
Snap (NYSE:SNAP) last posted its earnings results on Wednesday, May 10th. Snap Chat had 58 analyst reports since March 2, 2017 according to SRatingsIntel. The business had revenue of $149.60 million for the quarter, compared to the consensus estimate of $158.32 million. The company renewed its partnership with the National Basketball Association last October, and announced a deal with NBC to cover the 2018 Winter Olympics earlier this year. On average, equities analysts forecast that Snap will post ($0.56) EPS for the current year. Snapchat will cover the event, as well as future races, through its Our Stories feature, meaning that it will editorially curate Snaps generated by attendees.
Analysts at Stifel, however, said that investor concerns about the looming end of the lockup period could have more of an impact on the share price than any actual insider selling after the expiry. "(SNAP) Downgraded by Citigroup Inc.to Neutral" was originally reported by Transcript Daily and is the sole property of of Transcript Daily.
Several hedge funds have recently added to or reduced their stakes in SNAP. The company's stock had a trading volume of 14,645,605 shares.