Snap's (SNAP) "Buy" Rating Reaffirmed at Jefferies Group LLC

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Atlantic Securities initiated coverage on Snap in a research note on Tuesday, February 21st. They issued a "neutral" rating for the company. JPMorgan Chase & Co. started coverage on shares of Snap in a report on Monday, March 27th. They set a hold rating and a $22.00 price target on the stock.

During the a year ago Snap Chat's shares have increased by 0% from 0.00 to 19.14. The brokerage now has a $30.00 target price on the stock. Loop Capital restated a hold rating and set a $21.00 price objective on shares of Snap in a report on Thursday, April 6th. Eight 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 assigned a strong buy rating to the company's stock.

In comparison, Wall Street analysts reiterated their 12-month average price target at $23.43, indicating more than 12% upside potential over the last close. Snap-on had a net margin of 15.93% and a return on equity of 20.89%. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 18.10 and a beta of 1.06. The firm has a 50 day moving average price of $21.55 and a 200-day moving average price of $21.68.

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The number of shares Snap Chat now has in issue is 956,206,000, which have a value of 20.5 per share calculating Snap Chat's market capitalisation to 19.60B United States dollars. The company had revenue of $149.60 million during the quarter, compared to analysts' expectations of $158.32 million. Regardless, Snap should stay firm and not agree to lower rates based on its somewhat underwhelming performance in the first quarter of the year, the technology executive believes. Equities analysts predict that Snap will post ($0.54) earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: This article was first reported by Transcript Daily and is the property of of Transcript Daily. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of U.S. & worldwide trademark and copyright laws. The correct version of this article can be viewed at https://transcriptdaily.com/2017/05/16/snap-inc-snap-earns-buy-rating-from-drexel-hamilton.html. The position makes it Snap's fifth-largest holder as of latest filings, according to Bloomberg data. IHT Wealth Management LLC increased its stake in Snap-on by 13.8% in the first quarter.

Coatue Management LLC, Soros Fund Management LLC, Goldman Sachs Group Inc (GS.N) and Jana Partners LLC on Monday joined the list of fund managers disclosing stakes in the parent of the popular Snapchat messaging app at the end of March. First Trust Advisors LP bought a new stake in shares of Snap during the first quarter worth $10,130,000. Sumitomo Mitsui Asset Management Company LTD purchased a new position in Snap during the first quarter valued at $2,119,000.

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