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Published: Tue, May 16, 2017
Business | By Patricia Jimenez

Barclays Capital Issues Price Target With 4.49% Upside On Snap Chat

Barclays Capital Issues Price Target With 4.49% Upside On Snap Chat

Needham & Company LLC assumed coverage on shares of Snap in a report on Monday, March 6th. Snap's revenue was up 285.6% compared to the same quarter a year ago. If you are reading this article on another domain, it was illegally copied and republished in violation of United States and global copyright law. Cantor Fitzgerald upgraded Snap from an "underweight" rating to a "neutral" rating and dropped their price target for the stock from $18.00 to $17.00 in a research report on Thursday. The 50 day moving average of NYSE:SNAP is 21.78 and the 200 day moving average is 21.81. The 53-year-old expressed that sentiment while commenting on Snap's first earnings report and the inevitable comparisons between Snapchat and Facebook that many industry watchers are making, especially as Facebook recently started aggressively introducing Snapchat-inspired features to its services. Snap has a 1-year low of $17.59 and a 1-year high of $29.44. They now have a $28.00 price objective on the stock. Van ECK Associates Corp now owns 786 shares of the company's stock worth $135,000 after buying an additional 55 shares during the last quarter. Analysts predict that Snap will post ($0.54) EPS for the current year. Nomura initiated coverage on Snap in a report on Thursday, March 2nd. Wunderlich increased their price target on shares of Snap-on from $190.00 to $205.00 and gave the company a "buy" rating in a research report on Friday, February 3rd.

Leading investment firms Fidelity and BlackRock Inc BLK.N owned Snap shares at the end of March, regulatory filings showed, providing a fresh vote of confidence for the Snapchat parent company. Adirondack Trust Co. increased its stake in Snap-on by 2.5% in the first quarter. Gargoyle Investment Advisor L.L.C. bought a new stake in shares of Snap-on during the first quarter valued at about $1,734,000. Goldman Sachs Group Inc's price target points to a potential upside of 46.29% from the company's current price. US Bancorp DE bought a new stake in Snap during the first quarter valued at approximately $101,000. If you are reading this piece on another site, it was illegally stolen and reposted in violation of USA & global trademark and copyright laws.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, June 9th. Shareholders of record on Friday, May 19th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, May 17th. They issued an "underperform" rating and a $28.37 price objective for the company. The stock now has an average rating of "Hold" and a consensus price target of $21.93. Snap-on's dividend payout ratio is presently 30.84%. Snap-on now has a consensus rating of "Buy" and a consensus target price of $192.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The shares were sold at an average price of $174.88, for a total value of $7,344,960.00. Following the completion of the transaction, the chairman now directly owns 376,762 shares of the company's stock, valued at approximately $65,138,382.18. The disclosure for this sale can be found here. The original version of this article can be read at https://www.themarketsdaily.com/2017/05/15/snap-on-incorporated-sna-receives-194-75-average-pt-from-analysts-updated-updated.html. Following the transaction, the vice president now owns 10,486 shares in the company, valued at $1,851,198.44. The Company's advertising products include Snap Ads and Sponsored Creative Tools, such as Sponsored Lenses and Sponsored Geofilters.

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