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Snap (SNAP) Receives a Rating Update from a Top Analyst

In a report released yesterday, Mark Kelley from Stifel Nicolaus maintained a Buy rating on Snap (SNAPResearch Report), with a price target of $50.00. The company’s shares closed last Wednesday at $40.28.

According to TipRanks.com, Kelley is a top 100 analyst with an average return of 48.1% and a 86.5% success rate. Kelley covers the Technology sector, focusing on stocks such as Meta Platforms, Criteo SA, and Pinterest.

Snap has an analyst consensus of Moderate Buy, with a price target consensus of $55.20, representing a 46.3% upside. In a report issued on February 3, KeyBanc also maintained a Buy rating on the stock with a $45.00 price target.

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The company has a one-year high of $83.34 and a one-year low of $24.32. Currently, Snap has an average volume of 29.07M.

Based on the recent corporate insider activity of 159 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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