Snapchat shares plummet as Snap Inc's first results are out

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Drexel Hamilton reissued their buy rating on shares of Snap Inc (NYSE:SNAP) in a report released on Thursday morning. They issued a "neutral" rating for the company. They now have a $30.00 target price on the stock. The firm was also reportedly a pre-IPO investor Coatue Management disclosed a 21 million-share stake, seventh-largest holder as of latest filings. Wunderlich boosted their price target on shares of Snap-on from $190.00 to $205.00 and gave the company a buy rating in a research report on Friday, February 3rd. Zacks Investment Research cut shares of Snap-on from a buy rating to a hold rating in a research report on Tuesday, January 24th. They issued a market perform rating and a $21.00 target price for the company. They set an "outperform" rating and a $200.00 target price on the stock. Susquehanna Bancshares Inc's price objective would suggest a potential downside of 27.68% from the stock's previous close. Eight research analysts have rated the stock with a sell rating, seventeen have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company's stock.

Shares of Snap (NYSE:SNAP) traded up 0.19% during midday trading on Monday, reaching $20.78.

In this regard, Soros, Goldman Sachs, and Coatue took 1.7 million, 1.1 million, and 21 million share stake in Snap while Jana Partners took only 550,000 share stake in the business.

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Snap-on Company Profile Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, fix information and systems solutions. The company reported ($2.31) EPS for the quarter, missing the consensus estimate of ($2.05) by $0.26. The firm had revenue of $149.60 million for the quarter, compared to the consensus estimate of $158.32 million. The company's revenue for the quarter was up 285.6% compared to the same quarter past year. On average, equities analysts predict that Snap will post ($0.54) EPS for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the company. Bridgewater Associates LP acquired a new position in shares of Snap-on during the first quarter worth $490,000. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Snap during the first quarter worth $2,837,000. Prospera Financial Services Inc purchased a new position in Snap during the first quarter valued at $418,000. IHT Wealth Management LLC now owns 983 shares of the company's stock valued at $160,000 after buying an additional 119 shares during the last quarter.