The Snap Inc. (NYSE:SNAP) Stock Rating Reaffirmed by Instinet


Stifel Nicolaus upgraded Snap from a hold rating to a buy rating and boosted their target price for the stock from $15.24 to $22.00 in a research report on Thursday.

The average rating on FactSet is hold and the average price target is $20.29.

Snap closed down 8.7 percent at $15.50, falling below its price for its initial public offering (IPO) in March of $17.

Instinet restated their sell rating on shares of Snap Inc. OTR Global initiated the shares of SNAP in report on Friday, March 24 with "Positive" rating. Monness Crespi & Hardt began coverage on shares of Snap in a research note on Monday, March 20th. Nine research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fifteen have given a buy rating to the company. The median price target of $19 has fallen about 21 percent in the last three months.

Shares in the owner of Snapchat rose 2.62% to US$15.64 in USA pre-market trading after reaching a record low of US$15.21 yesterday on the back of a Morgan Stanley downgrade. 14,645,605 shares of the company's stock traded hands. The firm's market cap is $10.42 billion. Snap also was the recipient of unusually large options trading on Tuesday.

Rijiju takes of flood scene in worst affected Assam districts
The flood situation in Assam remained grim even on Friday as three more lives were claimed, which took the death toll to 52. Officials have managed to rescue 108 animals so far, out of which four are undergoing treatment, including a rhino calf.

Contempt proceedings against Mallya only when he is produced
The banks had argued before the court that Mallya had wilfully disobeyed the orders and made "vague" disclosure about his assets. Government and added that a warrant would soon be released against him.

Magnitude Earthquake Strikes Oklahoma; Aftershocks Felt In NWA
Oklahoma experienced its largest-ever recorded quake in September, a 5.8-magnitude temblor centered in Pawnee. A second slightly weaker one came about 20 minutes later and was centered less than a mile away.

"Buying interest in call options with strike prices above the current stock price is often a sign that players are positioning for a short-term move higher in the stock", said Ruffy. This is an increase of 259% compared to the typical volume of 16,010 put options.

Snap (NYSE:SNAP) last announced its earnings results on Wednesday, May 10th. Credit Suisse Group reaffirmed an outperform rating and issued a $25.00 target price (down from $30.00) on shares of Snap in a report on Monday. The company had revenue of $149.60 million for the quarter, compared to the consensus estimate of $158.32 million. Snap's revenue was up 285.6% compared to the same quarter a year ago.

"We have been wrong about Snap's ability to innovate and improve its ad product this year (improving scalability, targeting, measurability, etc.) and user monetization", wrote Morgan Stanley analyst Brian Nowak. Snapchat will cover the event, as well as future races, through its Our Stories feature, meaning that it will editorially curate Snaps generated by attendees. Some investors are starting to Snap's low price as an attractive entry point, with shares down 37.49% since its IPO. The rating has been disclosed in a research report on 11 July. Ltd. purchased a new position in Snap during the first quarter worth $223,000. NN Investment Partners Holdings N.V. raised its stake in Snap by 6.3% in the second quarter.

Facebook's stock hit an all-time low of $17.55 after opening for trading at $42.05 and many investors were still hesitant to initiate a position near its all-time lows.