Deutsche Bank Indicated Snap Chat (NYSE:SNAP) As 'Buy'

Lynne Hanson
May 17, 2017

Analysts, including Sandler, on Thursday revised their expectations for the stock with at least nine brokerages lowering their price targets. They set a "neutral" rating for the company.

Reuters report further suggested that despite having hottest technology IPO, the social media business's lack of profitability, diminishing user growth, and high valuation has listed it as a controversial stock on Wall Street. Zacks Investment Research cut Snap-on from a "buy" rating to a "hold" rating in a research report on Tuesday, January 24th. They issued a "neutral" rating for the company. Bank of America Corp assumed coverage on shares of Snap in a research note on Monday, March 27th. They issued a market perform rating and a $21.00 target price for the company.

Snap-on (NYSE:SNA) traded down 0.14% on Wednesday, reaching $170.68. Wunderlich boosted their target price on Snap-on from $190.00 to $205.00 and gave the stock a "buy" rating in a research report on Friday, February 3rd. Vetr raised Snap from a hold rating to a buy rating and set a $20.33 price objective for the company in a report on Monday, March 20th. 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.

Separately, Snap on Monday opened three app features to brands for advertising. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 18.10 and a beta of 1.06.

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

Snap shares plunged on May 10 after revenue missed estimates in its first quarterly report as a public company. The company reported ($2.31) EPS for the quarter, missing the consensus estimate of ($2.05) by $0.26. Snap's revenue for the quarter was up 285.6% on a year-over-year basis. Equities analysts predict that Snap will post ($0.54) earnings per share for the current fiscal year. If you are viewing this article on another site, it was copied illegally and reposted in violation of U.S. & worldwide copyright & trademark laws. The original version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/05/16/canaccord-genuity-reiterates-hold-rating-for-snap-inc-snap.html. The position makes it Snap's fifth-largest holder as of latest filings, according to Bloomberg data. Paloma Partners Management Co purchased a new stake in Snap-on during the first quarter valued at $2,205,000. WFG Advisors LP bought a new position in shares of Snap during the first quarter worth about $109,000.

Snap Inc keeps clawing back losses from last week's 21 per cent swoon, welcome news to any of the institutional owners now detailing stakes in the messaging service - as long as they didn't bail in the downdraft. Ltd. bought a new position in Snap during the first quarter worth about $223,000.

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