Snap shares dive 17% as user growth slows
- Author: Jon Douglas Aug 12, 2017,
Aug 12, 2017, 0:09
Nine analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have given a buy rating to the company.
Snap Inc, formerly Snapchat, Inc, is a camera company. Narwhal Capital Management purchased a new position in shares of Snap during the first quarter worth $282,000. Finally, Essex Investment Management Co. US Bancorp DE purchased a new position in Snap during the first quarter valued at $101,000. Snap Inc. has a 12 month low of $11.90 and a 12 month high of $29.44. Canaccord Genuity initiated coverage on Snap in a research report on Friday, April 28th. The firm has a 50 day moving average of $15.61 and a 200 day moving average of $19.35. The company's market cap is $14.16 billion. The average amount of revenue made per user increased by 109 percent over the year to $1.05.
"If you want to be a creative company, you have got to be comfortable with and basically enjoy the fact that people copy your stuff", Spiegel said on its first earnings call in May.
Snap reported revenue of $181.7 million, up 153 percent from a year ago but short of the $186.2 million anticipated by Wall Street. It won't be easy for Snapchat to top $1 billion in revenue this year, as investors have expected.
Total daily active users hit 173 million, an increase of 4 percent quarter over quarter, which represented a slow-down in growth.
WARNING: This report was originally reported by Stock Observer and is the property of of Stock Observer. If you are accessing this piece on another publication, it was stolen and republished in violation of global copyright and trademark legislation. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/11/dubuque-bank-trust-co-invests-137000-in-snap-inc-snap-updated-updated.html. However, Instagram recently reported similar numbers.
Snap (SNAP) is set to report its second-quarter earnings after the bell and it has a lot to prove to investors. Finally, Oppenheimer Holdings, Inc. upgraded Snap from a "market perform" rating to an "outperform" rating and set a $23.00 price target for the company in a research note on Thursday, May 11th. Goldman Sachs Group, Inc. Cleveland Research lowered shares of Snap from a "buy" rating to a "neutral" rating in a report on Tuesday, July 25th. The new target price indicates a possible upside of 0.46% based on the company's last stock close price. They issued a "hold" rating and a $22.00 price target on the stock. Snap has a consensus rating of "Hold" and a consensus target price of $20.95. The figure counted spending by the same parent company, meaning a new division of a conglomerate giving Snapchat ads a whirl this year would have counted in Snap's favor.
Snap Inc.'s flagship product, Snapchat, has suffered from unfavorable comparisons to Facebook's Instagram Stories, which is a clone meant to compete for the company's users.