Snap Inc (SNAP) Upgraded to Buy at Vetr Inc.

Snap Inc (NYSE:SNAP) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Monday, May 8th. The firm presently has a $23.97 price objective on the stock. Vetr‘s price objective would indicate a potential upside of 18.25% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. Monness Crespi & Hardt started coverage on shares of Snap in a report on Monday, March 20th. They set a “buy” rating and a $25.00 price target on the stock. Drexel Hamilton started coverage on shares of Snap in a report on Tuesday, March 21st. They set a “buy” rating and a $30.00 price target on the stock. Goldman Sachs Group Inc assumed coverage on shares of Snap in a report on Monday, March 27th. They set a “buy” rating and a $27.00 price target on the stock. Citigroup Inc assumed coverage on shares of Snap in a report on Monday, March 27th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Jefferies Group LLC assumed coverage on shares of Snap in a report on Monday, March 27th. They set a “buy” rating and a $30.00 target price on the stock. Eight investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $21.93.

Analyst Recommendations for Snap (NYSE:SNAP)

Snap (NYSE:SNAP) traded down 1.33% during midday trading on Monday, hitting $20.00. The stock had a trading volume of 18,920,074 shares. Snap has a 52 week low of $17.59 and a 52 week high of $29.44. The stock’s 50 day moving average price is $21.28 and its 200-day moving average price is $21.59. The company’s market cap is $23.58 billion.

Snap (NYSE:SNAP) last released its earnings results on Wednesday, May 10th. The company reported ($2.31) EPS for the quarter, missing the 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 business’s revenue for the quarter was up 285.6% compared to the same quarter last year. Equities research analysts predict that Snap will post ($0.58) earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE acquired a new position in shares of Snap during the first quarter worth approximately $101,000. WFG Advisors LP acquired a new position in shares of Snap during the first quarter worth approximately $109,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Snap during the first quarter worth approximately $158,000. Pacer Advisors Inc. acquired a new position in shares of Snap during the first quarter worth approximately $205,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Snap during the first quarter worth approximately $223,000.

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

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

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