Drexel Hamilton Issues a Buy Rating on Snap Inc

By Austin Angelo

In a report released today, Brian White from Drexel Hamilton assigned a Buy rating to Snap Inc (NASDAQ: SNAP), with a price target of $30. The company’s shares opened today at $14.95.

White noted:

“We continue to believe Snap has strong upside potential over the next 12 months as reflected in our $30.00 price target.”

According to TipRanks.com, White is a 5-star analyst with an average return of 10.7% and a 64.2% success rate. White covers the Consumer Goods sector, focusing on stocks such as Juniper Networks, Amphenol Corp, and Cisco Systems.

Currently, the analyst consensus on Snap Inc is Hold and the average price target is $15.02, representing a 0.5% upside.

In a report issued on September 5, Cantor Fitzgerald also maintained a Buy rating on the stock with a $15 price target.

The company has a one year high of $29.44 and a one year low of $11.28. Currently, Snap Inc has an average volume of 26.48M.

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Snap, Inc. engages in the operation of its camera platform. It is also involved in the provision of advertising by helping its partners generate a return on their investment by creating engaging advertising products. Its products include Snapchat, Publisher Tools, and Spectacles.