Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Snap (SNAP) Stock Price

AFP  Getty Images     
       Snap has said its user base may be small but it’s engaged

They now have a $30.00 price target on the stock. They set a "market perform" rating and a $23.48 price target on the stock. While it was just one quarter, analysts' concerns could grow regarding the company's path to profitability depending on the results in upcoming quarters.

Snap Inc has suffered from falling stock prices since floating on the U.S. stock market earlier this year.

A number of other research analysts have also weighed in on SNAP.

Revenue at the California-based company more than doubled to $182 million while its loss soared to $443 million in the quarter that ended June 30, according to an earnings release. Drexel Hamilton restated a "buy" rating and issued a $30.00 target price on shares of Snap in a research note on Thursday, May 11th.

Snap has been in an nearly constant slide since its initial public offering and is down 20.6% from its $US17 IPO price. Nine equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have issued a buy rating to the company.

Shares of Snap (NYSE SNAP) traded down 1.33% during midday trading on Thursday, hitting $13.38. The company's stock had a trading volume of 50,251,356 shares.

In fact, the social media company has more analysts covering it than it has billions of dollars in market cap. Snap has a 52 week low of $11.90 and a 52 week high of $29.44.

Snap (NYSE:SNAP) last announced its quarterly earnings data on Wednesday, May 10th. That meant that, while the average revenue per user it earned went up, the companies free cash flow also declined. The firm's revenue for the quarter was up 285.6% compared to the same quarter past year.

TRADEMARK VIOLATION WARNING: This news story was originally posted by Rincon Hill News and is the property of of Rincon Hill News. "(SNAP) Stock Rating Reaffirmed by Summit Redstone" was published by Stock Observer and is owned by of Stock Observer. If you are reading this article on another publication, it was stolen and republished in violation of United States and global copyright & trademark legislation. The correct version of this news story can be viewed at https://stocknewstimes.com/2017/08/10/snap-inc-nysesnap-upgraded-to-buy-by-vetr-inc.html.

Large investors have recently made changes to their positions in the stock.

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