Snap Inc. (SNAP) Rating Reiterated by Susquehanna Bancshares Inc

Susquehanna Bancshares Inc restated their neutral rating on shares of Snap Inc. (NYSE:SNAP) in a research report released on Friday, May 12th. Susquehanna Bancshares Inc currently has a $15.00 price target on the stock, down from their prior price target of $22.00.

Several other brokerages have also recently issued reports on SNAP. Atlantic Securities began coverage on Snap in a research note on Tuesday, February 21st. They issued a neutral rating on the stock. Summit Redstone began coverage on Snap in a research note on Monday, March 27th. They issued a sell rating and a $17.00 price objective on the stock. Nomura reiterated a sell rating and issued a $28.00 price objective (up from $16.00) on shares of Snap in a research note on Thursday, May 11th. Barclays PLC reduced their price objective on Snap from $23.00 to $20.00 and set an equal weight rating on the stock in a research note on Thursday, May 11th. Finally, Needham & Company LLC reiterated an underperform rating and issued a $27.00 price objective on shares of Snap in a research note on Thursday, May 11th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $21.84.

Snap (NYSE SNAP) traded up 3.18% on Friday, reaching $17.54. The company’s stock had a trading volume of 18,955,724 shares. Snap has a 52 week low of $17.00 and a 52 week high of $29.44. The firm’s market capitalization is $20.68 billion. The company has a 50 day moving average of $20.48 and a 200 day moving average of $21.10. Snap also saw unusually large options trading on Friday. Stock traders bought 37,110 call options on the company. This represents an increase of 133% compared to the typical daily volume of 15,938 call options.

Snap (NYSE:SNAP) last released its quarterly earnings results on Wednesday, May 10th. The company reported ($2.31) EPS for the quarter, missing analysts’ consensus estimates of ($2.05) by $0.26. The business had revenue of $149.60 million during the quarter, compared to the consensus estimate of $158.32 million. The business’s revenue was up 285.6% compared to the same quarter last year. On average, analysts forecast that Snap will post ($0.55) earnings per share for the current year.

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Several large investors have recently bought and sold shares of the stock. FMR LLC bought a new stake in Snap during the first quarter worth about $737,133,000. JPMorgan Chase & Co. bought a new stake in Snap during the first quarter worth about $252,388,000. BlackRock Inc. bought a new stake in Snap during the first quarter worth about $211,934,000. Vanguard Group Inc. bought a new stake in Snap during the first quarter worth about $152,135,000. Finally, Jennison Associates LLC bought a new stake in Snap during the first quarter worth about $119,178,000. Institutional investors own 29.57% of the company’s stock.

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.

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