Snap Chat maintained as Hold By Canaccord Genuity

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Snap Inc (NYSE:SNAP) had its target price reduced by Stifel Nicolaus from $27.00 to $24.00 in a research note issued to investors on Thursday morning. The brokerage now has a $30.00 price objective on the stock. They set a "neutral" rating for the company. Citigroup Inc initiated coverage on shares of Snap in a research report on Monday, March 27th. They now have a hold rating on the stock. Zacks Investment Research cut shares of Snap-on from a buy rating to a hold rating in a research report on Tuesday, January 24th. They issued a buy rating and a $25.00 price objective for the company.

Boasting a price of $18.03, Snap Chat (NYSE:SNAP) traded 6.04% higher on the day.

Snap's stock was last up 7.75 percent at $20.62. Susquehanna Bancshares Inc restated a "neutral" rating and set a $22.00 target price on shares of Snap in a research note on Friday, March 17th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. T Rowe Price held 28.3 million shares, making it the sixth-largest holder as of latest filings, while Coatue disclosed a 21 million-share stake, making it the seventh-largest holder.

Snap (NYSE:SNAP) opened at 20.74 on Friday. The firm's market cap is $19.87 billion. Snap Chat has recorded a 50-day average of $21.55 and a two hundred day average of $21.68. The 52 week high shares of Snap Chat have reached is 29.44 whilst the 52 week low for the company's shares is 17.59.

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However, it was not made clear to whether Apple would continue to sell the devices after it cuts the updates for good. The Apple fanatics can expect the company to announce the release of iOS 11 on the first night of the event.

The company reported $2.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $2.34 by $0.05. The company had revenue of $149.60 million during the quarter, compared to the consensus estimate of $158.32 million. Equities research analysts predict that Snap will post ($0.54) earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This article was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & worldwide copyright & trademark laws. The original version of this piece can be accessed at Several hedge funds and other institutional investors have recently modified their holdings of the company. Edge Wealth Management LLC acquired a new stake in shares of Snap during the first quarter valued at $257,000.

Ahead of its first-ever earnings call later today, Snap has unveiled a few changes to its Snapchat image- and video-sharing app that could help it boost appeal to marketers and better compete with rivals, including Facebook-owned Instagram. TIAA CREF Investment Management LLC raised its position in shares of Snap-on by 2.2% in the first quarter.