Jefferies Group LLC Reaffirms "Buy" Rating for Snap Inc (SNAP)

Jefferies Group LLC Reaffirms

They now have a $30.00 target price on the stock.

Snap shares plunged as much as 23.5 percent last week to just above its IPO price of $17 a share after the company reported a wider-than-expected loss of $2.2 billion in the first quarter. Summit Redstone assumed coverage on Snap in a research note on Monday, March 27th. They issued a market perform rating and a $21.00 target price for the company. Drexel Hamilton initiated coverage on Snap in a report on Tuesday, March 21st. They presently have a $15.00 target price on the stock, down from their prior target price of $22.00. On the other hand, the Snapchat Discover system is an entirely new, innovative channel, the former top executive at Yahoo stated, noting that the Venice, Los Angeles-based company's idea of blending several different media formats into one presents a unique opportunity for advertisers. Snap-on now has a consensus rating of "Buy" and a consensus target price of $192.83. Finally, Stifel Nicolaus started coverage on shares of Snap in a report on Monday, March 27th. They set a buy rating and a $30.00 price target on the stock.

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In a post on Facebook, the actress Rae Dawn Chong said Ulrich is her ex-husband, and she asked for "prayers to his family". Blumin is the founder and chief executive of Skylight Group , a Manhattan firm that finds venues for top fashion shows.

After closing the day at $22.98, Snap's shares tanked 21.5% in overnight trading and continued to fall during trading on the New York Stock Exchange (NYSE) on Thursday, closing at $18.05, a loss in value of nearly $6bn, according to The Guardian.

Goldman meanwhile took a 1.1 million share stake in the newly public company, and also held put and call options on 1.6 million shares. The company has a 50-day moving average price of $21.55 and a 200-day moving average price of $21.68. The highest share price NYSE:SNAP shares have reached in the prior twelve months is 29.44 with the lowest being 18.16.

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Snap-on Company Profile Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, fix information and systems solutions.

Snap (NYSE:SNAP) last posted its quarterly earnings data on Wednesday, May 10th. The firm had revenue of $149.60 million during the quarter, compared to the consensus estimate of $158.32 million. The company's revenue for the quarter was up 285.6% compared to the same quarter a year ago. Equities analysts expect that Snap will post ($0.54) earnings per share for the current year. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & worldwide copyright and trademark law. The original version of this article can be accessed at

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News reports throughout the day Friday cited as many as 11 people under consideration for the position. Donald Trump's list to replace recently fired Federal Bureau of Investigation chief James Comey .

Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE bought a new position in shares of Snap during the first quarter worth about $101,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Snap during the first quarter worth about $158,000.

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