Snap Inc (SNAP) Earns Buy Rating from Drexel Hamilton

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 STRUGGLING Snapchat

Snap Inc (NYSE:SNAP)'s stock had its "hold" rating reaffirmed by equities research analysts at Canaccord Genuity in a report released on Friday. They set an outperform rating and a $200.00 price target on the stock.

In fact, while some traders sold shares, others placed bets that the stock would fall even further. Stifel Nicolaus reissued a "hold" rating on shares of Snap in a report on Thursday. Benjamin F. Edwards & Company Inc. bought a new position in Snap during the first quarter worth about $158,000. Atlantic Securities initiated coverage on Snap in a research note on Tuesday, February 21st. Wells Fargo & Co assumed coverage on shares of Snap in a report on Friday, March 31st.

Most of the long position was assigned to the company's asset management subsidiary, while the other positions are held by one of its broker-dealer subsidiaries. Snap presently has a consensus rating of "Hold" and an average price target of $21.93.

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.

Snap shares plunged 21.45 percent Thursday after the company's first earnings report as a public company showed a net loss of $2.2 billion and a disappointing 166 million daily active users.

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Snap Inc SNAP.N jumped 8 percent on Monday and was on track for its third strongest day since the social media company's initial public offering, boosted by filings showing several institutional investors had owned its shares.

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 results on Wednesday, May 10th. The company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.05. The company had revenue of $149.60 million for the quarter, compared to analysts' expectations of $158.32 million.

Soros Fund Management, run by 86-year-old billionaire George Soros, took a almost 1.7 million stake in Snap during the first quarter. Equities research analysts anticipate that Snap will post ($0.54) EPS for the current fiscal year. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & worldwide copyright & trademark laws. US Bancorp DE bought a new stake in shares of Snap during the first quarter worth $101,000. Credit Suisse AG now owns 90,806 shares of the company's stock valued at $15,317,000 after buying an additional 2,517 shares during the last quarter. Pacer Advisors Inc. bought a new position in shares of Snap during the first quarter worth about $205,000. WFG Advisors LP bought a new position in Snap during the first quarter worth about $109,000. Bank of New York Mellon Corp purchased a new position in shares of Snap during the first quarter worth $525,000.

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