Jefferies Group LLC reaffirmed a "buy" rating and issued a $30.00 price target on shares of Snap in a research report on Monday, April 17th.
Shares of Snap Inc (SNAP.N) rallied on Wednesday as options traders buckled in for the social media company's quarterly results and after an analyst said the beaten-down stock was "getting interesting". Goldman Sachs Group, Inc.
Snap made this disclosure as it reported another quarter of lower-than-expected earnings results, resulting in investors sending its stock down close to 17% in after-hours trading. Finally, Nomura reaffirmed a sell rating and issued a $28.00 target price (up from $16.00) on shares of Snap in a report on Thursday, May 11th. The stock has an average rating of Hold and an average target price of $20.95.
Snap's results came on the heels of Blue Apron Holdings Inc reporting a wider-than-expected quarterly loss, which erased almost a fifth from the meal-kit delivery service's market value. Pacer Advisors Inc. now owns 9,869 shares of the company's stock valued at $175,000 after buying an additional 757 shares in the last quarter. FMR LLC purchased a new position in Snap during the first quarter worth $737,133,000. NN Investment Partners Holdings N.V. raised its stake in shares of Snap by 6.3% in the second quarter.
In light of the 20% plunge shares of Snapchat-parent Snap Inc (NYSE:SNAP) suffered following the mid-May release of its first-quarter numbers, SNAP stock holders were understandably nervous as Thursday's closing bell approached.
Carrie Fisher leaves almost $7m worth estate to daughter Billie Lourd
Lourd will also inherit the rights to her mother's public image and likeness, as well as her intellectual property rights. Although Billie knows she was out-shone by Carrie, she "loves" being known as the daughter of Princess Leia.
Vetr upgraded shares of Snap Inc. The firm's revenue for the quarter was up 285.6% compared to the same quarter previous year.
Shares of Snap (SNAP) traded up 3.725% on Friday, hitting $13.505. 11,060,603 shares of the company traded hands. The stock has a 50-day moving average of $15.37 and a 200-day moving average of $19.24. The firm's market capitalization is $16.23 billion.
Also weighing on Snap shares is the end of a six-month period in which employee-shareholders couldn't sell their stock.
Snap again came in below analysts' expectations in its Q2 earnings, announced on Thursday. The company reported ($2.31) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($2.05) by $0.26. With that, those analysts have also cautioned that a large number of companies will be vying for related revenues and that many businesses have also developed similar offerings and features. In the first quarter, revenue declined on a sequential basis from $165.7 million in Q4 of 2016 to $149.7 million.
Average revenue per user was $1.05, up from $0.90 in the first three months of the year.