Snap Inc. (SNAP) Stock Rating Reaffirmed by Summit Redstone

Snap Inc. (SNAP) Stock Rating Reaffirmed by Summit Redstone

Snapchat's daily active users rose to 173 million, compared to the 166 million reported in the last quarter, but continues to trail many of its rivals.

Snap Inc shares were trading at $13.77 per share on Thursday afternoon, up $0.21 (+1.55%). Snap has a 52-week low of $11.90 and a 52-week high of $29.44.

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company reiterated a "market perform" rating on shares of Snap in a report on Saturday, July 22nd. US Bancorp DE acquired a new stake in shares of Snap during the first quarter worth about $101,000. Snap has a consensus rating of "Hold" and an average price target of $21.02. 10,767,217 shares of the company were exchanged. WFG Advisors LP purchased a new position in Snap during the first quarter valued at $109,000. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company's stock worth $134,000 after buying an additional 6,540 shares during the period.

Seven Bridges Advisors LLC acquired a new position in Snap Inc. The firm's 50 day moving average price is $15.61 and its 200-day moving average price is $19.35.

In fact, the social media company has more analysts covering it than it has billions of dollars in market cap.

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(SNAP) were falling 4% after hours Thursday after the company missed second-quarter earnings expectations and reported weaker-than-expected user numbers. On average, equities research analysts predict that Snap Inc. will post ($0.56) earnings per share for the current year.

Revenue at the California-based company more than doubled to $182 million while its loss soared to $443 million in the quarter that ended June 30, according to an earnings release.

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Several institutional investors have recently made changes to their positions in SNAP. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Snap by 654.0% in the second quarter. This is an important metric for Snap because because the company says it's a good indicator of its business growth - and a reflection of its strategy to push hard into more mature advertising markets. The Company's flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap.

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