tiptrot.com June 20, 2018

Snapchat takes another hit on Wall Street

12 August 2017, 12:07 | Bernice Figueroa

Snapchat takes another hit on Wall Street

Snapchat takes another hit on Wall Street

"Snap's challenges will become increasingly important to track, as its main competitor Instagram continues to roll out new (and similar) features to the same user base", Verkasalo warned. UBS AG began coverage on Snap in a report on Monday, March 27th.

Snap Inc. was reeling on Friday morning after posting its second straight underwhelming quarterly report, and nobody is feeling the pain more than CEO Evan Spiegel and Chief Tech Officer Bobby Murphy. Finally, Oppenheimer Holdings, Inc. reaffirmed an "outperform" rating and issued a $23.00 target price on shares of Snap in a research report on Tuesday, July 11th. Raymond James Financial, Inc. initiated coverage on Snap in a research note on Tuesday, April 25th. The company was initially valued at close to $30bn but is now valued at close to half that price.

Snap's shares took a dive after its earnings report was released. Nine analysts have rated the stock with a sell rating, twenty have given a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of "Hold" and an average target price of $20.44.

Snap (SNAP) opened at 13.77 on Friday. The firm has a 50 day moving average of $15.61 and a 200 day moving average of $19.35. The firm's market cap is $16.23 billion.

Spiegel looked to alleviate some of those fears on Snap's conference call on Thursday.

Until now. Facebook's Instagram Stories, a clear Snapchat clone, has more daily users than Snapchat itself — and parent company Snap Inc. should be very anxious.

Revenue, however, is on the up - $181.7m for Q2, up 153 per cent year-on-year, and 21.4 per cent on the previous quarter. The average amount of revenue made per user increased by 109 percent over the year to $1.05. Yet, analysts said the tie-up is less about awesome content for Snap and more about TV networks trying to keep up with increasingly scattered audiences. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of global copyright legislation. The legal version of this article can be accessed at https://www.baseball-news-blog.com/2017/08/09/snap-inc-nysesnap-rating-reiterated-by-wells-fargo-company-updated-updated.html.

Snap has been struggling to shrug off worries of its employees and company insiders flooding the market with new shares. Edge Wealth Management LLC acquired a new stake in Snap during the first quarter valued at approximately $257,000. Pacer Advisors Inc. acquired a new position in shares of Snap during the first quarter worth approximately $205,000. The company's stock had a trading volume of 66,968,083 shares.

Spiegel touted Snapchat's Memories feature, which acts like a camera roll for saving photos and videos that would otherwise expire.

Snap Inc. should be very anxious about Facebook's Instagram Stories, which now has more users than Snapchat itself.

Other News


Trending Now

Dubai's Torch Tower catches fire - again
This isn't the first time the building has been on fire; in 2015, about 60 floors of the skyscraper were engulfed by flames. A large fire has broken out in a 79-storey residential skyscraper in Dubai , one of the world's tallest buildings.

Trump appears to advocate rough police treatment of suspects
All but a few of those charged in the deaths were citizens of El Salvador or Honduras who entered the US illegally, according to law enforcement officials.

Skype Adds PayPal Integration, Lets You Make Payments While Chatting
If you live in one of those places, have a PayPal account , and use Skype for Android or iOS, you're in luck. Sending is free as long as you use your PayPal balance or a debit card in the United States.

Former DJ accused of groping Taylor Swift testifies in court
Arthur Lewis, also 32 and a real estate agent, said he's "a big supporter of Taylor Swift and just wanted to check it out". When Mueller couldn't answer that question, Baldridge looked at the jury and simply said "I think I've made my case".

Chicago's Sanctuary City Showdown with Trump Admin, DOJ Hits Huge Murder Rate
During a press conference, Emanuel accused the Sessions-led Department of " blackmailing " Chicago into changing its values. And he's likely to get further chances to sound off in the coming week. "I expect other cities to follow suit".

Kohli & Co clobber Lanka in Colombo
Pushpakumara had come in as a nightwatchman on the third evening and had survived for 57 balls. This is the second time in the last two years that India have won a Test series in Sri Lanka .

Kohli ends lean run as India thump Sri Lanka
Kohli though felt that his team came up with a "clinical performance", he said there was still room for improvement. Credit to the India team, and we need improvement in all three departments. "Never thought I would get here".

Philippines: Mayor Killed During Police Raid
The mayor of Ozamis and six others were killed early Sunday in police raids at private residences, according to media reports. Duterte says he plans to confront mayors linked to illegal drugs, warning that they should resign or face death .

The LG V30 Sale Will Start On September 28
With the LG V30 slated for an August 30 announcement, it's only natural for more and more leaks and rumors to start popping out. We can expect this smartphone to have upto 6GB of RAM as well since that more or less looks like a very common thing now.

Dutch, Belgians launch raids as Europe's contaminated egg scandal grows
Authorities suspect Belgian company Poultry Vision of producing a fipronil-laced treatment created to kill mites in chickens. Luxembourg has since alerted food safety authorities about the incident via the European Union rapid alert network.