Snap bounces back as big-name funds reveal they own stock

Snap bounces back as big-name funds reveal they own stock

Snap bounces back as big-name funds reveal they own stock

They now have a hold rating on the stock. Vetr upgraded Snap from a "strong sell" rating to a "sell" rating and set a $20.40 target price for the company in a research note on Monday, March 13th.

Other equities research analysts have also issued research reports about the company. Wunderlich boosted 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. Bank of America Corp assumed coverage on shares of Snap in a research note on Monday, March 27th. They issued a "sell" rating and a $17.00 price target for the company. Finally, Jefferies Group LLC initiated coverage on shares of Snap in a research report on Monday, March 27th. The brokerage now has a $30.00 price objective on the stock. Snap-on now has a consensus rating of "Buy" and a consensus target price of $192.83. Snap presently has a consensus rating of "Hold" and an average price target of $21.93.

Specialist traders work at the post where Snap traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 11, 2017. The company's stock had a trading volume of 36,043,201 shares. The stock was sold at an average price of $171.85, for a total value of $42,962.50.

It remains to be seen whether Levinsohn - who doesn't even consider Snap a social media platform - is right in predicting that Snap will turn its fortunes around in the future but the self-described "camera company" still has a lot to prove to the investors who fueled its $34.7 billion market capitalization following its initial public offering (IPO) in early March, though the thereof now amounts to approximately $22.5 billion.

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Snap-on Company Profile Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, fix information and systems solutions. The company reported ($2.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($2.05) by $0.26. The firm had revenue of $887.10 million for the quarter, compared to analysts' expectations of $877.30 million.

"We are running the company for the long term and won't be shortsighted about profits to make a quarter", Chief Financial Officer Andrew Vollero said last week on a call with analysts. Equities analysts expect that Snap will post ($0.54) earnings per share for the current year. If you are viewing this article on another site, it was copied illegally and reposted in violation of USA & global copyright & trademark laws. The legal version of this piece of content can be accessed at

A number of institutional investors have recently made changes to their positions in SNAP. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of Snap during the first quarter valued at $2,119,000. WFG Advisors LP bought a new position in shares of Snap during the first quarter worth about $109,000.

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