Reaffirmed: Snap (SNAP) Underperform Rating Reaffirmed by Analysts at Cowen \u0026 Co.; $8 Target in Place

July 13, 2018 - By Eula Gilbert

Snap (SNAP) Rating Reaffirmed

Snap (SNAP) just had their share rating of a ‘Underperform’ issued by research analysts at Cowen \u0026 Co., who now has a $8 PT on the $16.96 billion market cap company or a -40.10 % downside potential. This key information was revealed to investors in an analyst report on 13 July.

Snap Inc. (NYSE:SNAP) Ratings Coverage

Among 19 analysts covering Snap Inc (SNAP), 4 have Buy rating, 6 Sell and 9 Hold. Therefore 21% are positive. Snap Inc has $24.0 highest and $8 lowest target. $14.30’s average target is 7.08% above currents $13.355 stock price. Snap Inc had 29 analyst reports since February 5, 2018 according to SRatingsIntel. The company was upgraded on Wednesday, February 7 by Bank of America. The firm earned “Sell” rating on Wednesday, February 7 by Cowen & Co. The firm earned “Hold” rating on Wednesday, May 2 by Piper Jaffray. The stock of Snap Inc. (NYSE:SNAP) has “Hold” rating given on Monday, April 2 by SunTrust. The stock of Snap Inc. (NYSE:SNAP) has “Hold” rating given on Wednesday, February 7 by SunTrust. Summit Insights Group downgraded the shares of SNAP in report on Wednesday, May 2 to “Sell” rating. As per Wednesday, February 7, the company rating was upgraded by J.P. Morgan. The company was downgraded on Wednesday, February 7 by Susquehanna. The stock has “Underweight” rating by Morgan Stanley on Wednesday, May 2. The firm has “Sell” rating given on Tuesday, February 20 by Citigroup.

The stock decreased 2.16% or $0.295 during the last trading session, reaching $13.355. About 11.03M shares traded. Snap Inc. (SNAP) has declined 51.16% since July 13, 2017 and is downtrending. It has underperformed by 63.73% the S&P500.

Analysts await Snap Inc. (NYSE:SNAP) to report earnings on August, 9. They expect $-0.32 earnings per share, up 11.11 % or $0.04 from last year’s $-0.36 per share. After $-0.28 actual earnings per share reported by Snap Inc. for the previous quarter, Wall Street now forecasts 14.29 % negative EPS growth.

Snap Inc. operates as a camera company. The company has market cap of $16.96 billion. It offers Snapchat, a camera application that helps people to communicate through short videos and images. It currently has negative earnings. The firm also provides a suite of content tools for partners to build, edit, and publish snaps and attachments based on editorial content; and Spectacles, which are sunglasses that capture video from a human perspective.

More notable recent Snap Inc. (NYSE:SNAP) news were published by: Seekingalpha.com which released: “Snap: Prepare For A False Rally To $20” on July 10, 2018, also Bizjournals.com with their article: “Snap roundup: Snapchat working on ‘camera search’… launches Lens Explorer” published on July 12, 2018, Seekingalpha.com published: “Snap extends Shows format to platform creators” on June 21, 2018. More interesting news about Snap Inc. (NYSE:SNAP) were released by: Fool.com and their article: “Here’s Why Shares of Snap Jumped 15% Last Month” published on July 12, 2018 as well as Benzinga.com‘s news article titled: “Cowen Previews Snap’s Q2 Earnings, Trims Price Target” with publication date: July 13, 2018.

Snap Inc. (NYSE:SNAP) Ratings Chart

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