Snap added fewer users and made less money than Wall Street expected
00:07, Aug 12, 2017
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Accern also gave news coverage about the company an impact score of 45.0838422636603 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock's share price in the near term. Snap also was the recipient of unusually large options trading activity on Thursday. FMR LLC acquired a new position in Snap during the first quarter valued at about $737,133,000. Finally, Mirae Asset Global Investments Co. Edge Wealth Management LLC acquired a new stake in Snap during the first quarter valued at approximately $257,000. Snap has a 52-week low of $11.90 and a 52-week high of $29.44. Canaccord Genuity initiated coverage on Snap in a research report on Friday, April 28th. The firm's market capitalization is $15.90 billion.
Shares of Snap (NYSE SNAP) traded down 12.78% on Friday, hitting $12.01. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.13. The company's user growth started slowing down in the back half of 2016, and it's already falling short of Wall Street growth estimates less than six months in. Snap'srevenue was up 153.1% on a year-over-year basis.
Shares of Snap Inc. "(SNAP) Acquired by Dubuque Bank & Trust Co." was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States & worldwide trademark and copyright legislation. The correct version of this piece can be accessed at https://transcriptdaily.com/2017/08/11/snap-inc-nysesnap-stock-rating-reaffirmed-by-barclays-plc.html. Still, some analysts seemed concerned that on Instagram, owned by Facebook, users spend a similar amount of time.
Snap has suffered from falling stock prices since floating on the USA share market earlier this year. 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. Credit Suisse Group restated an "outperform" rating and issued a $25.00 price objective (down previously from $30.00) on shares of Snap in a report on Monday, July 10th. Nine investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have issued a buy rating to the company's stock. The new target price indicates a possible upside of 0.46% based on the company's last stock close price. "Snap has tremendous potential if it can capitalize on the opportunity in front of it as an alternative platform for advertisers", but the company is "under pressure from multiple fronts".
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. It now offers video stories, maps and other features.
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