14 July, 2017
That could be because Scott Devitt at Stifel, Nicolaus & Co. said in a note to investors Thursday that worries about Snap's future growth are likely overblown.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. The firm boosted its rating on the $18.41B market capitalized company to a respectable "Buy" from their past rating of "Hold". Loop Capital assumed coverage on shares of Snap in a research note on Monday, March 27th. The stock of Snap Inc (NYSE:SNAP) has "Buy" rating given on Monday, March 27 by Deutsche Bank. Goldman Sachs Group, Inc. Nine research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fifteen have given a buy rating to the company.
The average rating on FactSet is hold and the average price target is $20.29. Right from the start, we have said we want to work with partners to bring fans closer to the unbelievable show that is Formula One, an incredible mix of technology and individual talent - and Snap fits that bill. The company has market cap of $18.36 billion. Snap has a 12 month low of $15.21 and a 12 month high of $29.44. The firm has a 50-day moving average of $19.18 and a 200 day moving average of $20.72. Snap also saw some unusual options trading activity on Tuesday. Perhaps investor sentiment would change if traders tried on augmented-reality bunny ears or played around with the company's Bitmoji avatars. This represents an increase of 259% compared to the typical volume of 16,010 put options. Equities analysts predict that Snap will post ($0.55) earnings per share for the current year. The company reported ($2.31) EPS for the quarter, missing the Zacks' consensus estimate of ($2.05) by $0.26. The company had revenue of $149.60 million for the quarter, compared to analyst estimates of $158.32 million. The firm's quarterly revenue was up 285.6% on a year-over-year basis.
Call options betting on Snap shares topping $16 by mid-October were the most actively traded contracts this week, followed by contracts looking for the shares to move above $17 by July 21, according to Trade Alert data. If you are reading this story on another website, it was illegally stolen and reposted in violation of United States and worldwide copyright law. If you are viewing this article on another website, it was illegally copied and reposted in violation of USA & worldwide copyright and trademark laws. On Tuesday, May 23 the stock rating was maintained by Jefferies with "Buy". LLC purchased a new stake in Snap during the first quarter valued at about $3,650,000. Creative Planning now owns 90,277 shares of the company's stock worth $1,604,000 after buying an additional 46,570 shares during the period.
