Wedbush Reiterates Their Hold Rating on Snap Inc (SNAP)

By Ryan Adsit

Wedbush analyst Michael Pachter reiterated a Hold rating on Snap Inc (SNAPResearch Report) today and set a price target of $14.75. The company’s shares closed yesterday at $14.83, close to its 52-week high of $16.24.

According to TipRanks.com, Pachter is a 3-star analyst with an average return of 0.6% and a 50.5% success rate. Pachter covers the Services sector, focusing on stocks such as Cinemark Holdings Inc, National Cinemedia, and AMC Entertainment.

Currently, the analyst consensus on Snap Inc is a Moderate Buy with an average price target of $16.33, a 10.1% upside from current levels. In a report released today, UBS also upgraded the stock to Hold with a $16 price target.

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The company has a one-year high of $16.24 and a one-year low of $4.82. Currently, Snap Inc has an average volume of 26.54M.

Based on the recent corporate insider activity of 134 insiders, corporate insider sentiment is negative on the stock.

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Snap, Inc. engages in the operation of its camera platform. It is also involved in the provision of advertising services by helping its partners in generating return on investments. Its products include Snapchat, publisher tools, and spectacles.