Shares of Snap Inc. Class A (NYSE:SNAP) traded today at $55.71, eclipsing its 52-week high. This new high was reached on below average trading volume as 1.3 million shares traded hands, while the average 30-day volume is approximately 20.1 million shares.
In the past 52 weeks, shares of Snap Inc. Class A have traded between a low of $7.89 and a high of $55.71 and is now at $54.84, which is 595% above that low price.
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 approximately 158 million daily active users. Snap generates nearly all of its revenue from advertising with 88% coming from the U.S. The firm is headquartered in Venice, California.
Based on a current price of $54.84, Snap Inc. Class A is currently 3.9% above its average consensus analyst price target of $52.72.
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