The stocks of SNAP saw a raise in their objective price which was lifted by the research analysts at Bank of America to a price of $55. This was then published in a research note produced to clients and investors according to Analyst Ratings Network. Currently, the firm has a rating of ‘buy’ on their stocks. The increase in the price objective by Bank of America has led to indications of a possible increase of about 6.61% on the current price of the company.
The Stocks Options of SNAP
There have been several brokerage firms that have issued research reports on the stocks of SNAP. JMP Securities have already increased the price target on the company from $28 to $40, along with a rating of ‘outperform’ on the stocks. Argus, too, has raised the objective price of SNAP from $30 to $50 along with a rating of ‘buy’. The Goldman Sachs Group also joined in on the fun, having increased the price target of the company from a sum of $28 to $47, along with a rating of ‘buy’. In the end, JPMorgan Chase & Co helped increase the target price of the company from $42 to $60 along with a rating of ‘overweight’ on the stocks.
One analyst working on the stock has given it a rating of ‘sell’, while ten of them have given it a rating of ‘hold’. Twenty-four analysts have assigned a rating of buy on the stocks of the company- with the consensus rating turning out to be ‘buy’ with a price target of $35.01.
The shares of SNAP traded at $0.24 on Wednesday, where it hit close to $51.59. The market cap of the company is $76.87 billion, with a beta of 1.52, and a PE ratio running at -69.51.