Barclays Capital Issues Price Target With 4.49% Upside On Snap Chat

Snap Inc

Barclays PLC's price objective indicates a potential upside of 4.49% from the stock's current price. The average 12-month price objective among brokerages that have updated their coverage on the stock in the past year is $190.80. Wunderlich upped their price objective on shares of Snap-on from $190.00 to $205.00 and gave the stock a "buy" rating in a report on Friday, February 3rd. They noted that the move was a valuation call. Susquehanna Bancshares Inc reiterated a neutral rating and set a $22.00 price objective on shares of Snap in a report on Friday, March 17th. Nomura initiated coverage on shares of Snap in a report on Thursday, March 2nd. They set a "market perform" rating and a $21.00 price target on the stock. T Rowe Price 28.3 million shares, making it the sixth-largest holder as of latest filings. They issued a "reduce" rating and a $16.00 price target for the company. The company now has an average rating of "Hold" and an average target price of $21.93.

Separately, Snap on Monday opened three app features to brands for advertising. Snap-on Incorporated has a 1-year low of $145.17 and a 1-year high of $181.73. The stock's market cap is $18.30 billion.

The companies 50 day moving average is 21.55 and its 200 day moving average is 21.68. Hedge funds and other institutional investors own 88.03% of the company's stock. This represents an increase of approximately 297% compared to the typical daily volume of 23,798 call options.

Snap (NYSE:SNAP) last released its earnings results on Wednesday, May 10th. The company reported $2.39 earnings per share for the quarter, beating the Zacks' consensus estimate of $2.34 by $0.05. The company had revenue of $149.60 million for the quarter, compared to analyst estimates of $158.32 million. The business's revenue was up 285.6% on a year-over-year basis. Equities analysts forecast that Snap-on will post $10.10 earnings per share for the current fiscal year.

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Large investors have recently modified their holdings of the stock. US Bancorp DE purchased a new position in shares of Snap during the first quarter worth about $101,000. JPMorgan Chase & Co. bought a new stake in shares of Snap during the first quarter valued at $252,388,000. On the other hand, the Snapchat Discover system is an entirely new, innovative channel, the former top executive at Yahoo stated, noting that the Venice, Los Angeles-based company's idea of blending several different media formats into one presents a unique opportunity for advertisers. Trellus Management Company LLC now owns 8,500 shares of the company's stock valued at $1,292,000 after buying an additional 3,124 shares in the last quarter.

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