Snap (SNAP) Coverage Initiated at Evercore ISI

Investment analysts at Evercore ISI started coverage on shares of Snap (NYSE:SNAP) in a research report issued to clients and investors on Tuesday. The brokerage set an “underperform” rating and a $7.00 price target on the stock. Evercore ISI’s price objective would suggest a potential downside of 52.05% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. SunTrust Banks assumed coverage on Snap in a report on Tuesday, August 15th. They set a “sell” rating and a $10.00 price target on the stock. Zacks Investment Research upgraded Snap from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Summit Redstone restated a “sell” rating and set a $8.00 price target (down from $10.00) on shares of Snap in a report on Friday, August 11th. Citigroup restated a “neutral” rating and set a $13.00 price target (down from $19.00) on shares of Snap in a report on Thursday, August 10th. Finally, Credit Suisse Group cut their price target on Snap from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Wednesday, November 8th. Sixteen investment analysts have rated the stock with a sell rating, twenty have given a hold rating and twelve have given a buy rating to the company’s stock. Snap currently has an average rating of “Hold” and a consensus price target of $16.88.

Snap (NYSE SNAP) opened at $14.60 on Tuesday. Snap has a twelve month low of $11.28 and a twelve month high of $29.44.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Tuesday, November 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.17. The business had revenue of $207.90 million for the quarter, compared to the consensus estimate of $236.71 million. The business’s revenue for the quarter was up 62.2% on a year-over-year basis. equities analysts predict that Snap will post -3.04 EPS for the current year.

In related news, CFO Andrew Vollero sold 37,874 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $14.64, for a total value of $554,475.36. Following the completion of the sale, the chief financial officer now directly owns 1,797,644 shares of the company’s stock, valued at approximately $26,317,508.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Timothy Sehn sold 400,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $14.85, for a total value of $5,940,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,903,723 shares of company stock valued at $51,620,444 over the last three months.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNAP. First Trust Advisors LP raised its position in Snap by 873.8% in the 3rd quarter. First Trust Advisors LP now owns 5,884,101 shares of the company’s stock valued at $85,555,000 after buying an additional 5,279,883 shares during the last quarter. Valiant Capital Management L.P. raised its position in Snap by 379.1% in the 3rd quarter. Valiant Capital Management L.P. now owns 3,215,300 shares of the company’s stock valued at $46,750,000 after buying an additional 2,544,200 shares during the last quarter. Allianz Asset Management GmbH raised its position in Snap by 73.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 4,529,005 shares of the company’s stock valued at $65,852,000 after buying an additional 1,916,830 shares during the last quarter. Vanguard Group Inc. raised its position in Snap by 23.7% in the 2nd quarter. Vanguard Group Inc. now owns 8,353,729 shares of the company’s stock valued at $148,446,000 after buying an additional 1,601,170 shares during the last quarter. Finally, State Treasurer State of Michigan purchased a new stake in shares of Snap during the 3rd quarter valued at $15,714,000. 18.88% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “Snap (SNAP) Coverage Initiated at Evercore ISI” was originally reported by Ticker Report and is the property of of Ticker Report. If you are viewing this story on another site, it was stolen and republished in violation of international copyright and trademark law. The legal version of this story can be viewed at https://www.tickerreport.com/banking-finance/3078719/snap-snap-coverage-initiated-at-evercore-isi.html.

Snap Company Profile

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.

Analyst Recommendations for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.