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 https://www.com-unik.info/2017/05/16/snap-ons-sna-outperform-rating-reiterated-at-cibc-updated-updated-updated.html.

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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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