Guggenheim Maintains Neutral Rating for Snap: Here's What You Need To Know

Guggenheim has decided to maintain its Neutral rating of Snap SNAP and raise its price target from $9.00 to $12.00.

Shares of Snap are trading up 1.82% over the last 24 hours, at $11.77 per share.

A move to $12.00 would account for a 1.95% increase from the current share price.

About Snap

Snap, which refers to itself as a camera company, has one of the most popular social networking apps, Snapchat, in developed regions such as North America and Europe. The firm has 375 million daily active users. Snap generates nearly all its revenue from advertising with 70% coming from North America. The firm is headquartered in Venice, California.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.