Snap Inc. (SNAP) Receives “Buy” Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their buy rating on shares of Snap Inc. (NYSE:SNAP) in a report published on Friday morning. They currently have a $17.00 price objective on the stock, up from their previous price objective of $15.00.

“Monetization per minute has significant upside potential… We’re modeling for Snap’s 2017 US ad revenue per DAU (ARPU) to rise 53.4% y/y to $9.56 (vs. FB’s (OW) $103.31), and for its 2017 US ad rev per min (x 1,000) to also rise by 53.4% y/y to $0.87 (vs. FB’s $5.66). On both counts, we believe Snap’s monetization has room to go substantially higher as bid density improves on the self-serve platform and as mobile video/ads in the Discover tab ramp up.”,” the firm’s analyst commented.

Several other brokerages have also recently weighed in on SNAP. Wedbush started coverage on shares of Snap in a research report on Wednesday, August 30th. They issued a neutral rating and a $12.00 price target on the stock. Vetr upgraded shares of Snap from a sell rating to a hold rating and set a $13.95 price target on the stock in a research report on Tuesday, July 25th. Monness Crespi & Hardt cut shares of Snap from a buy rating to a neutral rating in a research report on Friday, August 11th. Deutsche Bank AG cut shares of Snap from a buy rating to a hold rating and reduced their price target for the stock from $20.00 to $17.00 in a research report on Monday, September 11th. Finally, Aegis restated a hold rating on shares of Snap in a research report on Wednesday, May 31st. Ten research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $18.31.

Snap (NYSE:SNAP) traded up 2.28% during trading on Friday, reaching $15.25. 34,145,892 shares of the company’s stock were exchanged. Snap has a 12-month low of $14.82 and a 12-month high of $29.44. The company’s market cap is $18.26 billion. The stock’s 50-day moving average is $15.12 and its 200-day moving average is $18.17.

Snap (NYSE:SNAP) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.29) by ($0.07). The firm had revenue of $181.70 million for the quarter, compared to analysts’ expectations of $186.49 million. The company’s revenue was up 153.1% on a year-over-year basis. Analysts predict that Snap will post ($0.64) EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This article was published by Transcript Daily and is owned by of Transcript Daily. If you are viewing this article on another domain, it was stolen and republished in violation of U.S. and international trademark & copyright law. The original version of this article can be viewed at https://transcriptdaily.com/2017/09/16/snap-inc-snap-receives-buy-rating-from-cantor-fitzgerald.html.

In related news, VP Timothy Sehn sold 400,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $12.50, for a total value of $5,000,000.00. Following the sale, the vice president now owns 2,204,168 shares in the company, valued at $27,552,100. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Imran Khan sold 350,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $15.00, for a total value of $5,250,000.00. Following the completion of the sale, the insider now owns 9,946,464 shares in the company, valued at approximately $149,196,960. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,695,724 shares of company stock worth $23,209,887.

A number of hedge funds and other institutional investors have recently modified their holdings of SNAP. US Bancorp DE purchased a new stake in Snap in the first quarter valued at approximately $101,000. Seven Bridges Advisors LLC purchased a new stake in Snap in the 2nd quarter worth approximately $101,000. WFG Advisors LP purchased a new stake in Snap in the 1st quarter worth approximately $109,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in Snap by 654.0% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company’s stock worth $134,000 after purchasing an additional 6,540 shares in the last quarter. Finally, Dubuque Bank & Trust Co. purchased a new stake in Snap in the 2nd quarter worth approximately $137,000. Hedge funds and other institutional investors own 16.40% of the company’s stock.

About Snap

Snap Inc, formerly Snapchat, Inc, is a camera company. The Company’s flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.

Analyst Recommendations for Snap (NYSE:SNAP)

Receive News & Ratings for Snap Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply