Snap (SNAP) Receives a Buy from Wells Fargo

By Jason Carr

In a report issued on July 16, Brian Fitzgerald from Wells Fargo maintained a Buy rating on Snap (SNAPResearch Report), with a price target of $28.00. The company’s shares closed last Thursday at $21.97.

According to, Fitzgerald is a top 25 analyst with an average return of 31.3% and a 78.0% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as LiveRamp Holdings, ANGI Homeservices, and Uber Technologies.

Snap has an analyst consensus of Moderate Buy, with a price target consensus of $26.51, a 16.4% upside from current levels. In a report issued on July 9, RBC Capital also maintained a Buy rating on the stock with a $28.00 price target.

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The company has a one-year high of $26.76 and a one-year low of $7.89. Currently, Snap has an average volume of 31.23M.

Based on the recent corporate insider activity of 149 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNAP in relation to earlier this year.

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Snap, Inc. engages in the operation of its camera platform. Its products include Snapchat, using the camera and editing tools to take and share Snaps, Friends Page, which lets users create and use Stories, Groups, Video and Chat, Discover for searching and surfacing relevant Stories, Snap Map, which shows friends, Stories and Snaps near the user, Memories, for saving personal collections, and Spectacles, wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application. The company’s primary source of revenue is advertising. Snap was founded by Frank Reginald Brown IV, Evan Thomas Spiegel, and Robert C. Murphy in 2010 and is headquartered in Santa Monica, CA.