"We highlight our key points below in the attached presentation.", the firm's analyst wrote.
In other words, Instagram is attempting to restrict Snapchat's growth not only by mimicking its core features at a rapid clip but also by luring advertisers to run ads on its platform with free trials, credits, and discounts. Vetr raised shares of Snap from a "hold" rating to a "buy" rating and set a $20.33 price objective for the company in a report on Monday, March 20th.
Oppenheimer Holdings, Inc. reaffirmed their outperform rating on shares of Snap Inc.
Shares of social media firm Snap were downgraded for a second time this week Friday, adding to an already dismal trading week for the stock.
The company's shares closed below their initial public offering price of $17 for the first time on Monday, as investors become increasingly concerned about the Snap's ability to grow amid intense competition from the likes of Facebook Inc.
Shares of Snap (NYSE SNAP) opened at 15.69 on Tuesday. Nine equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fourteen have assigned a buy rating to the company. Aegis decreased their target price on shares of Snap from $20.00 to $19.00 and set a hold rating for the company in a report on Wednesday, June 21st.
Snap (NYSE SNAP) traded down 2.68% during mid-day trading on Thursday, reaching $15.27. 14,645,605 shares of the company were exchanged. Snap Chat has $31 highest and $10 lowest target. This represents an increase of approximately 259% compared to the average daily volume of 16,010 put options. Needham & Company LLC reissued an underperform rating on shares of Snap in a report on Thursday, March 16th. The business had revenue of $149.60 million for the quarter, compared to analyst estimates of $158.32 million. Snap's quarterly revenue was up 285.6% compared to the same quarter previous year.
"Our Stories, one of three types of content on Snapchat's Discover platform, are compilations of Snaps submitted from Snapchatters at events and locations around the world, and curated by teams of editors and producers at Snapchat", F1's press release explained. Citigroup Inc.'s price target indicates a potential upside of 44.07% from the stock's current price.
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Other equities research analysts have also recently issued reports about the company. First Trust Advisors LP acquired a new position in Snap during the first quarter worth about $10,130,000.
The stock has plunged almost 8.7 percent this week to break below its initial public offering price of $17 a share.
Users averaged 30 minutes per day on the app in the first quarter, according to Stifel, up from the 25 to 30 minutes Snap recently cited in an SEC filing.