Snap Inc (SNAP) Rating Reiterated by Susquehanna Bancshares Inc

Kristi Paul
May 17, 2017

Drexel Hamilton reissued their buy rating on shares of Snap Inc (NYSE:SNAP) in a report released on Thursday morning. The firm was also reportedly a pre-IPO investor Coatue Management disclosed a 21 million-share stake, seventh-largest holder as of latest filings. Analysts at FactSet Fundamentals have provided 12 Buy, 18 Hold, two Underweight, and four Sell ratings for SNAP. JPMorgan Chase & Co. started coverage on shares of Snap in a report on Monday, March 27th. They set a buy rating and a $25.00 price target on the stock. Goldman Sachs Group Inc initiated coverage on Snap in a report on Monday, March 27th. They set a reduce rating and a $16.00 price objective for the company. Atlantic Securities initiated coverage on Snap in a research note on Tuesday, February 21st. Finally, Teachers Advisors LLC raised its position in shares of Snap-on by 2.2% in the first quarter. They set a buy rating and a $30.00 price target on the stock.

Most of the long position was assigned to the company's asset management subsidiary, while the other positions are held by one of its broker-dealer subsidiaries.

In comparison, Wall Street analysts reiterated their 12-month average price target at $23.43, indicating more than 12% upside potential over the last close.

Snap closed up 8.36 percent on the day at $20.74, higher than its $17 IPO price but down nearly 30 percent from its highest trading price on March 3.

The 50 day moving average of Snap Chat (NYSE:SNAP) is 21.78 whilst its 200 day moving average is 21.81.

Snap (NYSE:SNAP) last announced its earnings results on Wednesday, May 10th. The company reported ($2.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.05) by $0.26. The company had revenue of $887.10 million for the quarter, compared to analysts' expectations of $877.30 million. Regardless, Snap should stay firm and not agree to lower rates based on its somewhat underwhelming performance in the first quarter of the year, the technology executive believes. On average, equities analysts predict that Snap will post ($0.54) EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This story was first posted by Markets Daily and is owned by of Markets Daily. If you are viewing this piece on another website, it was copied illegally and republished in violation of United States and worldwide trademark & copyright law. US Bancorp DE bought a new position in shares of Snap during the first quarter worth about $101,000. Ltd. bought a new position in Snap during the first quarter worth about $223,000. Pacer Advisors Inc. bought a new position in shares of Snap during the first quarter worth about $205,000. TIAA CREF Investment Management LLC now owns 257,616 shares of the company's stock worth $43,452,000 after buying an additional 5,454 shares in the last quarter.

Other reports by VideoGamingPros

Discuss This Article

FOLLOW OUR NEWSPAPER