Snap shares up ahead of results; options traders eye steep stock swing

Snap Inc. (NYSE:SNAP) Stock Rating Reaffirmed by Wells Fargo & Company

Nine analysts have rated the stock with a sell rating, twenty have given a hold rating and fifteen have assigned a buy rating to the company's stock. Cowen and Company reiterated an "outperform" rating and set a $26.00 price objective on shares of Snap in a research report on Tuesday, May 9th. Raymond James Financial, Inc. initiated coverage on shares of Snap in a report on Tuesday, April 25th. That's less than half of the $24.48 closing price on its first trading day.

According to CFRA analyst projections, SNAP isn't expected to deliver annual non-GAAP profits until 2020 at the earliest, but they have said that they think the company "is poised to take notable market share in global mobile advertising". BlackRock Inc. now owns 10,343,549 shares of the company's stock worth $183,805,000 after buying an additional 936,791 shares during the period. Snap has a consensus rating of "Hold" and an average price target of $21.02. "(NYSE:SNAP) Stock Rating Reaffirmed by Wells Fargo & Company" was first published by BNB Daily and is owned by of BNB Daily. Snap has a one year low of $11.90 and a one year high of $29.44. The firm has a 50-day moving average of $16.13 and a 200-day moving average of $19.59.

Snap Inc's misfortunes are weighing heavily on Silicon Valley as more loss making tech companies, including Uber and Airbnb, consider stock market sales.

Snap said Thursday that about 25% of smartphone owners in the USA are Snapchat users. In last quarter's results, SNAP reported daily active users grew from 122 million in Q1 2016 to 166 million in Q1 2017, but that growth slowed on a sequential basis.

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On the plus side, the company saw its quarterly revenue rise 153% in comparison with the year-ago period, taking in $181.7m as it upped its focus towards bringing advertisers on board. The business's revenue was up 153.1% compared to the same quarter previous year.

COPYRIGHT VIOLATION NOTICE: This story was first reported by Community Financial News and is the property of of Community Financial News. The original version of this report can be read at https://www.thestockobserver.com/2017/08/11/snap-inc-snap-shares-bought-by-nn-investment-partners-holdings-n-v-updated-updated.html. Snaps are viewed primarily through the Snapchat application, but can also be embedded on the Web or on television in certain circumstances. WFG Advisors LP purchased a new stake in shares of Snap during the first quarter valued at approximately $109,000.

During the second quarter, Snap announced&nb sp;a two-year content-development deal with Time Warner. Finally, Essex Investment Management Co. The company's stock had a trading volume of 66,968,083 shares. "Snap has tremendous potential if it can capitalize on the opportunity in front of it as an alternative platform for advertisers", but the company is "under pressure from multiple fronts".

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