Deutsche Bank Indicated Snap Chat (NYSE:SNAP) As 'Buy'

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Snap Chat (NYSE:SNAP) yesterday was the subject of a new research report issued by Goldman Sachs in which it was maintained as "Buy" by analysts at the firm. They presently have a $15.00 target price on the stock, down from their prior target price of $22.00. Eight investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock.

Snap shares plunged as much as 23.5 percent last week to just above its IPO price of $17 a share after the company reported a wider-than-expected loss of $2.2 billion in the first quarter. JPMorgan Chase & Co. started coverage on shares of Snap in a report on Monday, March 27th. The stock now has an average rating of Buy and a consensus price target of $192.83.

Snap Inc, formerly Snapchat, Inc, is a camera company.

Shares in Snap Chat have risen as high as 29.44 in the past 52 weeks whilst the lowest price in the last 52 weeks has been 17.59. The stock has a 50-day moving average price of $21.55 and a 200 day moving average price of $21.68.

Snap shares closed 8.36 percent higher in their best day since March 3, when the stock jumped 11 percent on its second day as a public company.

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Over time, however, the company introduced new tools and features aimed at engaging users in new ways that also appealed to marketers.

Snap (NYSE:SNAP) last posted its quarterly earnings results on Wednesday, May 10th. The company had revenue of $149.60 million during the quarter, compared to the consensus estimate of $158.32 million. The firm's revenue for the quarter was up 285.6% on a year-over-year basis. Equities research analysts expect that Snap-on will post $10.10 EPS for the current year.

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Institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE bought a new position in shares of Snap during the first quarter worth about $101,000. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of Snap during the first quarter valued at $2,119,000. Stephens Inc. AR raised its position in shares of Snap-on by 58.8% in the first quarter. IHT Wealth Management LLC increased its stake in Snap-on by 13.8% in the first quarter. Royce & Associates LP raised its position in shares of Snap-on by 220.8% in the first quarter.

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