Sunday, 09 December, 2018

Will Snap Have More Bad News When It Reports Earnings?

Will Snap Have More Bad News When It Reports Earnings? Will Snap Have More Bad News When It Reports Earnings?
Nellie Chapman | 09 February, 2018, 03:27

Shares in the social media company spiked Tuesday, rising 22 percent in after-hours trading. "Additionally, the fourth quarter saw significantly more new Android users as a percentage of net additional users than any other quarter in our history", Spiegel said in the prepared remarks. Not only have Snapchat's advertising API and self-serve Ad Manager made it easier to buy Snapchat's Snap Ads, but they have also opened up the app's inventory to more advertisers. First Manhattan Co. boosted its position in Snap by 384.5% in the third quarter.

"[We] can infer this result at least partially reflects some degree of deceleration in spending from large brands, which generally view Snap as a niche platform rather than something core to their typical campaigns", wrote Wieser.

Snap (NYSE:SNAP)'s stock had its "hold" rating restated by analysts at Deutsche Bank in a research note issued to investors on Monday, January 22nd. The stock now has an average rating of "Hold" and a consensus price target of $17.70.

According to allegedly leaked data uncovered by The Daily Beast in January, the biggest concern around the redesign is that it will make the Discover section even less popular.

10 stocks we like better than Snap Inc. Snap Inc has a twelve month low of $11.28 and a twelve month high of $29.44. The firm has a market capitalization of $24,990.00 and a PE ratio of -6.53. Zendesk revenue was $123.4 million in the fourth quarter, up 39 percent from a year ago.

Snap posted losses of $0.13 per share on $285.7 million in revenue versus expectations of a $0.16 per share loss on $252.95 million in revenue. Year-to-date, SNAP has declined -3.76%, versus a 0.85% rise in the benchmark S&P 500 index during the same period.

"This quarter was a major step in the right direction for the company", said Daniel Ives, an analyst with GBH Insights. Snap's revenue past year grew about 104 percent to $824.9 million.

A number of analysts have weighed in on the stock. The retention rate of new Snapchat users on Android increased by almost 20 percent compared to the year prior, according to prepared remarks.

Oppenheimer analyst Jason Helstein is at the opposite end of the spectrum on Snap stock with an Outperform rating, and he raised his price target from $14 to $19 per share after the earnings release.

The positive earnings report is a bright spot amid a year of tough moments for Snap, which has spent much of its time on the public markets trading below its IPO price. The company has an average rating of "Hold" and a consensus target price of $17.99.

That now stands at 14.3% of outstanding shares sold short. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Steven Michael Horowitz sold 286,332 shares of the business's stock in a transaction on Thursday, November 16th.