The brokerage presently has an "outperform" rating on the stock.
Several other equities analysts have also weighed in on SNAP. Needham & Company LLC began coverage on shares of Snap in a report on Monday, March 6th. Susquehanna Bancshares Inc began coverage on shares of Snap in a report on Friday, March 3rd. They now have a $27.00 target price on the stock. Atlantic Securities started coverage on shares of Snap in a report on Tuesday, February 21st. JPMorgan, which got the third-most shares following the IPO, lowered its price target to $20 from $24, maintaining a hold rating on Snap's stock. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seventeen have issued a buy rating to the company. Snap now has an average rating of "Hold" and an average price target of $22.47. 68,919,978 shares of the company were exchanged. The company has a 50 day moving average price of $21.78 and a 200 day moving average price of $21.81. Snap has a 52-week low of $17.59 and a 52-week high of $29.44. The stock's market cap is $15.71 billion.
Shares of Twitter Inc, which competes with Snap and had 328 million average monthly active users in the latest quarter, had also tumbled 24 percent after its first quarterly report. It reported revenue of $149.6 million, missing expectations of $158 million.
In addition, average revenue per user (ARPU) was up from $0.32 in the same quarter a year ago to $0.90 in the first quarter.
ILLEGAL ACTIVITY WARNING: "Snap Inc (SNAP) Raised to "Buy" at Vetr Inc." was first published by Transcript Daily and is the property of of Transcript Daily. If you are accessing this story on another domain, it was copied illegally and reposted in violation of United States and global copyright and trademark laws. The correct version of this news story can be accessed at https://www.themarketsdaily.com/2017/05/12/snaps-snap-outperform-rating-reaffirmed-at-royal-bank-of-canada.html.
Institutional investors have recently added to or reduced their stakes in the stock.
Snap's chief executive, Evan Spiegel, didn't help the company's image or ease investors' fears during the 26-year-old's first-ever earnings call.
The new features enable users to loop videos for repeated play or to re-view an incoming Snap for as long as they like without the normal automatic deletion kicking in after one viewing.
I think the bottom line is, like, if you want to be a creative company you've got to get comfortable with and basically enjoy the fact that people are going to copy your products if you make great stuff. Last year, the company was rebranded as Snap Inc and moved into the hardware space with Spectacles, colourful sunglasses that record short clips to post on Snapchat.
Some analysts point to a weakness in Snap Inc's business model.