Equities research analysts at Piper Jaffray Companies started coverage on shares of Snap Inc (NYSE:SNAP) in a research report issued to clients and investors on Thursday. The firm set a “neutral” rating and a $23.00 price target on the stock. Piper Jaffray Companies’ target price would indicate a potential upside of 1.14% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other brokerages have also weighed in on SNAP. Vetr upgraded shares of Snap from a “strong sell” rating to a “sell” rating and set a $20.40 price objective for the company in a report on Monday, March 13th. Nomura assumed coverage on shares of Snap in a report on Thursday, March 2nd. They set a “reduce” rating and a $16.00 price objective for the company. Pivotal Research reiterated a “sell” rating and set a $10.00 price objective on shares of Snap in a report on Tuesday, March 21st. Moffett Nathanson assumed coverage on shares of Snap in a report on Thursday, March 16th. They set a “sell” rating and a $15.00 price objective for the company. Finally, Needham & Company LLC assumed coverage on shares of Snap in a report on Monday, March 6th. They set an “underperform” rating and a $28.37 price objective for the company. Eight research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. Snap has an average rating of “Hold” and a consensus target price of $20.46.
Shares of Snap (NYSE:SNAP) opened at 22.74 on Thursday. The stock’s 50 day moving average is $22.01 and its 200-day moving average is $22.01. Snap has a 12-month low of $18.90 and a 12-month high of $29.44. The stock’s market cap is $19.01 billion.
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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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