Snap Inc (NYSE:SNAP) Seems to Be a Stock That JMP Securities Is a Bit Wary of; Firm Downgrades Shares

February 22, 2018 - By Dolores Ford

 Snap Inc (NYSE:SNAP) Seems to Be a Stock That JMP Securities Is a Bit Wary of; Firm Downgrades Shares

Snap Inc (NYSE:SNAP) Receives a Downgrade

Market activity behind shares of Snap Inc (NYSE:SNAP) will likely interesting today as JMP Securities decreased the stock to a “Hold” rating.

Snap Inc. (NYSE:SNAP) Ratings Coverage

Among 42 analysts covering Snap Chat (NYSE:SNAP), 10 have Buy rating, 10 Sell and 22 Hold. Therefore 24% are positive. Snap Chat has $31 highest and $7 lowest target. $16.93’s average target is -1.63% below currents $17.21 stock price. Snap Chat had 112 analyst reports since March 2, 2017 according to SRatingsIntel. The firm has “Hold” rating by Cleveland given on Tuesday, July 25. Canaccord Genuity initiated Snap Inc. (NYSE:SNAP) on Friday, April 28 with “Hold” rating. OTR Global downgraded Snap Inc. (NYSE:SNAP) on Monday, July 31 to “Mixed” rating. Piper Jaffray initiated the shares of SNAP in report on Thursday, March 23 with “Neutral” rating. Credit Suisse maintained Snap Inc. (NYSE:SNAP) on Wednesday, October 11 with “Outperform” rating. Bank of America maintained the shares of SNAP in report on Wednesday, November 8 with “Neutral” rating. Cantor Fitzgerald maintained Snap Inc. (NYSE:SNAP) on Tuesday, August 22 with “Buy” rating. The stock of Snap Inc. (NYSE:SNAP) earned “Hold” rating by Aegis Capital on Thursday, August 17. SunTrust maintained it with “Sell” rating and $10.0 target in Friday, November 17 report. On Thursday, May 11 the stock rating was upgraded by Oppenheimer to “Outperform”.

The stock decreased 7.67% or $1.43 during the last trading session, reaching $17.21. About 43.46M shares traded or 65.33% up from the average. Snap Inc. (NYSE:SNAP) has 0.00% since February 22, 2017 and is . It has underperformed by 16.70% the S&P500.

Analysts await Snap Inc. (NYSE:SNAP) to report earnings on May, 9. They expect $-0.33 EPS, up 85.71 % or $1.98 from last year’s $-2.31 per share. After $-0.27 actual EPS reported by Snap Inc. for the previous quarter, Wall Street now forecasts 22.22 % negative EPS growth.

Snap Inc. operates as a camera company. The company has market cap of $21.03 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: Cnbc.com which released: “Snap’s annual report reminds investors just how much power CEO Evan Spiegel has” on February 22, 2018, also Latimes.com with their article: “Snap Inc. revenue surges, beating expectations; stock jumps 25%” published on February 06, 2018, Latimes.com published: “Another top executive is leaving Snap Inc.” on January 25, 2018. More interesting news about Snap Inc. (NYSE:SNAP) were released by: Investorplace.com and their article: “Trade of the Day: Snap Inc Stock May Finally Be Taken Seriously” published on February 22, 2018 as well as Seekingalpha.com‘s news article titled: “Snap May Have A User Force To Reckon With” with publication date: February 15, 2018.

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