Fintel reports that on July 26, 2023, Morgan Stanley reiterated coverage of Snap Inc - (NYSE:SNAP) with a Underweight recommendation.
Analyst Price Forecast Suggests 25.15% Downside
As of July 6, 2023, the average one-year price target for Snap Inc - is 9.36. The forecasts range from a low of 6.06 to a high of $14.70. The average price target represents a decrease of 25.15% from its latest reported closing price of 12.51.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Snap Inc - is 5,131MM, an increase of 14.42%. The projected annual non-GAAP EPS is 0.37.
What is the Fund Sentiment?
There are 897 funds or institutions reporting positions in Snap Inc -. This is a decrease of 55 owner(s) or 5.78% in the last quarter. Average portfolio weight of all funds dedicated to SNAP is 0.19%, a decrease of 36.15%. Total shares owned by institutions decreased in the last three months by 0.26% to 732,861K shares. 
The put/call ratio of SNAP is 0.49, indicating a bullish outlook.
What are Other Shareholders Doing?
FBGRX - Fidelity Blue Chip Growth Fund holds 52,680K shares representing 3.27% ownership of the company. In it's prior filing, the firm reported owning 50,206K shares, representing an increase of 4.70%. The firm decreased its portfolio allocation in SNAP by 24.10% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 30,738K shares representing 1.91% ownership of the company. In it's prior filing, the firm reported owning 30,929K shares, representing a decrease of 0.62%. The firm increased its portfolio allocation in SNAP by 14.94% over the last quarter.
Capital World Investors holds 30,653K shares representing 1.91% ownership of the company. In it's prior filing, the firm reported owning 30,527K shares, representing an increase of 0.41%. The firm increased its portfolio allocation in SNAP by 21.95% over the last quarter.
D. E. Shaw holds 26,041K shares representing 1.62% ownership of the company. In it's prior filing, the firm reported owning 24,382K shares, representing an increase of 6.37%. The firm increased its portfolio allocation in SNAP by 29.58% over the last quarter.
Two Sigma Advisers holds 24,619K shares representing 1.53% ownership of the company. In it's prior filing, the firm reported owning 18,744K shares, representing an increase of 23.86%. The firm increased its portfolio allocation in SNAP by 51.94% over the last quarter.
Snap Background Information
(This description is provided by the company.)
Snap Inc. is a camera company. Snap believes that reinventing the camera represents its greatest opportunity to improve the way people live and communicate. The company contributes to human progress by empowering people to express themselves, live in the moment, learn about the world, and have fun together.
Additional reading:
- Snap Inc. Non-Employee Director Compensation Policy
- Investor Letter Q2 2023 July 25, 2023 This Investor Letter contains forward-looking statements and non-GAAP financial measures, please see Appendix for additional information. Exhibit 99.2 2SNAP INC. | Q2 2023 | INVESTOR LETTER We began the second qu
- Snap Inc. Announces Second Quarter 2023 Financial Results Daily Active Users increased 14% year-over-year to 397 million Second quarter revenue was $1,068 million Trailing twelve months operating cash flow was $250 million Trailing twelve months Free
- 3000 31st Street Santa Monica, California 90405 NOTICE OF 2023 ANNUAL MEETING OF STOCKHOLDERS To Be Held on July 24, 2023
- Snap Announces Filing of Form 8-K and Publishes Summary Notice
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
