Wedbush analyst Michael Pachter maintained a Buy rating on Snap Inc (NYSE: SNAP) today and set a price target of $12.25. The company’s shares closed yesterday at $6.84, close to its 52-week low of $6.46.
According to TipRanks.com, Pachter is a 1-star analyst with an average return of 0.0% and a 50.0% success rate. Pachter covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, AMC Entertainment, and Best Buy Co.
The word on The Street in general, suggests a Hold analyst consensus rating for Snap Inc with a $10.08 average price target, a 47.4% upside from current levels. In a report issued on October 10, Barclays also reiterated a Buy rating on the stock with a $16 price target.
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Based on Snap Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $353 million. In comparison, last year the company had a GAAP net loss of $443 million.
Based on the recent corporate insider activity of 106 insiders, corporate insider sentiment is negative on the stock.
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Snap, Inc. engages in the operation of its camera platform. It is also involved in the provision of advertising services by helping its partners in generating return on investments. Its products include Snapchat, publisher tools, and spectacles.
