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

Wells Fargo analyst Brian Fitzgerald maintained a Buy rating on Snap (SNAPResearch Report) today and set a price target of $60.00. The company’s shares closed last Friday at $35.32.

According to TipRanks.com, Fitzgerald is a top 100 analyst with an average return of 27.9% and a 65.4% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as Integral Ad Science, Uber Technologies, and LiveRamp Holdings.

Currently, the analyst consensus on Snap is a Moderate Buy with an average price target of $55.78, representing a 58.2% upside. In a report released yesterday, KeyBanc also maintained a Buy rating on the stock with a $45.00 price target.

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Snap’s market cap is currently $39.44B and has a P/E ratio of -59.64.

Based on the recent corporate insider activity of 157 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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