Snap Inc. (NYSE:SNAP) Stock Rating Reaffirmed by Wells Fargo & Company

Snap Inc. (NYSE:SNAP) Stock Rating Reaffirmed by Wells Fargo & Company

Snap Inc. (NYSE:SNAP) Stock Rating Reaffirmed by Wells Fargo & Company

Finally, Instinet restated a "reduce" rating and set a $14.00 target price on shares of Snap in a report on Friday, June 9th. Vetr cut Snap from a "buy" rating to a "hold" rating and set a $22.54 target price for the company.in a research report on Thursday, April 27th. Snap said quarterly revenue was $181.7 million, missing the $185.8 million average estimate of analysts surveyed by Bloomberg. The stock declined by as much as 17% in after hours trading, falling to levels of under $12. Nine research analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have assigned a buy rating to the company's stock. Snap has an average rating of "Hold" and an average target price of $20.90. The company's stock price closed down 19 percent from its IPO price. The stock's 50 day moving average price is $15.27 and its 200 day moving average price is $19.19.

Snap Inc's misfortunes are weighing heavily on Silicon Valley as more loss making tech companies, including Uber and Airbnb, consider stock market sales. Snap Inc. has a 12 month low of $11.90 and a 12 month high of $29.44.

(NYSE:SNAP) by 6.3% during the second quarter, according to its most recent disclosure with the SEC. CEO Evan Spiegel said during the company's earnings call that Maps has caused an uptick in submissions to Snapchat's public "Our Story" feature.

SAN FRANCISCO Ever since Snap, the maker of the messaging app Snapchat, went public in March, the company has become a closely watched barometer for Silicon Valley and Wall Street. Revenue grew to $182 million, more than double the $72 million a year earlier but below analysts' expectations.

81% of Snap's second-quarter revenue came from North America, a strong indicator that the app is focused on monetizing users in the world's largest and most valuable ad market.

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During the second quarter, Snap announced&nb sp;a two-year content-development deal with Time Warner.

Snap (SNAP) opened at 13.77 on Friday. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States & global trademark and copyright legislation. The original version of this report can be read at https://www.thestockobserver.com/2017/08/11/snap-inc-snap-shares-bought-by-nn-investment-partners-holdings-n-v-updated-updated.html.

Other hedge funds have also made changes to their positions in the company. Snap also fell short of expectations for revenue. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Snap during the first quarter worth $2,119,000. The firm owned 42,406 shares of the company's stock after buying an additional 2,530 shares during the period.

Additionally, Spiegel said the company is working to stabilize the backend infrastructure of Snapchat's Android app. (SNAP) has revolved around the impact of Facebook's clones - Instagram Stories especially - on Snapchat's user growth.

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