RBC Capital Reaffirms Their Hold Rating on Snap (SNAP)

RBC Capital analyst Brad Erickson maintained a Hold rating on Snap (SNAPResearch Report) on February 1 and set a price target of $10.00. The company’s shares closed yesterday at $11.00.

According to TipRanks, Erickson is a 5-star analyst with an average return of 15.3% and a 48.17% success rate. Erickson covers the Technology sector, focusing on stocks such as Meta Platforms, Alphabet Class A, and Snap.

Currently, the analyst consensus on Snap is a Hold with an average price target of $10.58, which is a -3.82% downside from current levels. In a report released on February 1, Bank of America Securities also reiterated a Hold rating on the stock with a $11.00 price target.

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The company has a one-year high of $41.97 and a one-year low of $7.33. Currently, Snap has an average volume of 31.57M.

Based on the recent corporate insider activity of 112 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Founded in 2010 and based in California, Snap, Inc. is a social media company and provides a camera platform in the U.S. and internationally. It has developed many technological products and services including Snapchat, which uses the camera and editing tools to take and share Snaps; Bitmojis, which are personal emojis; Spectacles, which are wearable sunglasses capable of taking Snaps and interacting directly with the Snapchat application. The company’s primary source of revenue is advertising.

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