Finance: Snapchat surges above $20 after receiving its first Wall Street 'buy' rating (SNAP)


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.

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Chuka (Webby) Aniemeka
Chuka (Webby) Aniemeka

Chuka is an experienced certified web developer with an extensive background in computer science and 18+ years in web design & development. His previous experience ranges from redesigning existing website to solving complex technical problems with object-oriented programming. Very experienced with Microsoft SQL Server, PHP and advanced JavaScript. He loves to travel and watch movies.

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