Snap Inc (NYSE:SNAP) had its target price reduced by Stifel Nicolaus from $27.00 to $24.00 in a research note issued to investors on Thursday morning.
Analysts, including Sandler, on Thursday revised their expectations for the stock with at least nine brokerages lowering their price targets. They set a reduce rating and a $16.00 price objective for the company.
Other equities research analysts also recently issued research reports about the company. They now have a hold rating on the stock. Oppenheimer Holdings Inc. initiated coverage on Snap-on in a research report on Tuesday, April 11th. The stock now has an average rating of Buy and a consensus price target of $192.83.
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. Wunderlich boosted their price target on shares of Snap-on from $190.00 to $205.00 and gave the company a buy rating in a research report on Friday, February 3rd. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. The company presently has an average rating of Hold and an average price target of $21.93. The firm's market cap is $19.87 billion. The stock's 50-day moving average is $167.84 and its 200-day moving average is $169.36. The 52 week high Snap Chat's shares have peaked at is 29.44 whilst the 52 week low for the company's shares is 17.59.
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Snap (NYSE:SNAP) last issued its quarterly earnings results on Wednesday, May 10th. The company reported ($2.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($2.05) by $0.26. The firm's quarterly revenue was up 6.3% on a year-over-year basis. Analysts anticipate that Snap will post ($0.54) earnings per share for the current fiscal year.
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A number of large investors have recently made changes to their positions in the company. Bridgewater Associates LP acquired a new position in shares of Snap-on during the first quarter worth $490,000. IHT Wealth Management LLC increased its stake in Snap-on by 13.8% in the first quarter.
Shares of Snap surged Monday, tracking for its third-best day ever, as traders gained confidence from filings showing big hedge funds bought the Snapchat parent in the first quarter.