Wedbush analyst Michael Pachter reiterated a Hold rating on Snap Inc (SNAP) today and set a price target of $14.75. The company’s shares closed last Monday at $13.78.
According to TipRanks.com, Pachter is a 4-star analyst with an average return of 2.6% and a 54.2% success rate. Pachter covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.
Currently, the analyst consensus on Snap Inc is a Moderate Buy with an average price target of $17.92, implying a 30.5% upside from current levels. In a report released yesterday, MKM Partners also initiated coverage with a Hold rating on the stock with a $16.00 price target.
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The company has a one-year high of $18.36 and a one-year low of $4.82. Currently, Snap Inc has an average volume of 29.46M.
Based on the recent corporate insider activity of 134 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNAP in relation to earlier this year.
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Snap, Inc. engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application. The company’s primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C. Murphy in 2010 and is headquartered in Santa Monica, CA.
