JMP Securities has decided to maintain its Market Outperform rating of Snap (NYSE:SNAP) and lower its price target from $45.00 to $42.00.
Shares of Snap are trading down 5.52% over the last 24 hours, at $13.19 per share.
A move to $42.00 would account for a 218.42% increase from the current share price.
About Snap
Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe. The firm has approximately 319 million daily active users. Snap generates nearly all its revenue from advertising with 72% coming from North America, mainly the U.S. The firm is headquartered in Venice, California.
About Analyst Ratings
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
