Mizuho Initiates Coverage on Snap Inc (SNAP)

Mizuho initiated coverage on shares of Snap Inc (NYSE:SNAP) in a research report issued to clients and investors on Friday. The brokerage set a “neutral” rating and a $20.00 price target on the stock. Mizuho’s price objective would suggest a potential downside of 3.94% from the stock’s current price. The analysts noted that the move was a valuation call.

A number of other brokerages also recently issued reports on SNAP. Nomura initiated coverage on shares of Snap in a report on Thursday, March 2nd. They set a “reduce” rating and a $16.00 price target on the stock. Atlantic Securities initiated coverage on shares of Snap in a report on Tuesday, February 21st. They set a “neutral” rating on the stock. Vetr raised shares of Snap from a “strong sell” rating to a “sell” rating and set a $20.40 price target on the stock in a report on Monday, March 13th. Needham & Company LLC reissued an “underperform” rating on shares of Snap in a report on Thursday, March 16th. Finally, Moffett Nathanson began coverage on shares of Snap in a research report on Thursday, March 16th. They set a “sell” rating and a $15.00 price objective for the company. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Snap presently has a consensus rating of “Hold” and a consensus target price of $23.05.

Analyst Recommendations for Snap (NYSE:SNAP)

Shares of Snap (NYSE:SNAP) traded up 1.0106% during trading on Friday, hitting $21.0304. 961,190 shares of the stock traded hands. Snap has a 12 month low of $18.90 and a 12 month high of $29.44. The firm’s 50-day moving average price is $22.01 and its 200-day moving average price is $22.01. The stock’s market cap is $17.58 billion.

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About Snap

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.

5 Day Chart for NYSE:SNAP

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