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Snapchat surges above $20 after receiving its first Wall Street 'buy' rating

Snapchat surges above $20 after receiving its first Wall Street 'buy' rating
Published by
Business Insider

Less than 1m read

20 March 3.44pm

Hargreaves Lansdown is not responsible for this article's content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest. Article originally published by Business Insider.

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.

Markets Insider

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 legal@newscred.com.

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  • 20 March 3.44pm
  • Less than 1m read

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Article originally published by Business Insider. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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