Snap Inc (NYSE: SNAP) got off to a bumpy start as a publicly traded stock in 2017, but it is soaring more than 8 percent on Tuesday morning after Barclays said it's finally time for investors to jump in and buy the stock.
Investors in Snap, Inc. (NYSE:SNAP) can't be thrilled with its stock price performance so far. At around $12 per share, Snap trades well below its $17 IPO price and at less than half of its yearly high of $29.44.
In my experience, new initial public offerings (IPOs) need time to develop some sort of a character, i.e. it takes at least a couple of quarters of earnings for analyst to get their heads around the company and its prospects.
Earlier this month, Morgan Stanley, JPMorgan, UBS, Barclays, and other investment banks and advisory firms downgraded Snap stock to either underweight or sell stating that the company will face a lot of challenges regarding its monetization potential ...
Since going public in March SNAP stock shares are down 39%, even with the Barclay's bounce. What launched the new interest is a redesign that, in the words of co-founder Evan Spiegel, “separates the social from the media.