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Snap Inc, the parent company of messaging company Snapchat is higher by 3.9% at $20.30 per share after Monness analyst James Cakmak initiated coverage with a "buy" rating, the first for the stock since its March 2 initial public offering. Cakmak has a price target of $25 on Snap's stock. Shares plunged 11% last week towards the IPO price of $17 as traders loaded up on bets against the company.
Shares os Snapchat plunged 11% last week, nearing the IPO price of $17, as traders loaded up on bets against the company.
This article was written by Greg Hoffman from Business Insider and was legally licensed through the NewsCred publisher network. Please direct all licensing questions to firstname.lastname@example.org.
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