Snap Inc Shares Tumble 21% As First-Ever Earnings Report Misses Badly

Image Text
 STRUGGLING Snapchat

Image Text STRUGGLING Snapchat

Stock investors acquired 32,214 call options on the stock. This represents an increase of 430% compared to the average volume of 6,076 call options. 68,971,017 shares of the company traded hands.

Over time, however, the company introduced new tools and features aimed at engaging users in new ways that also appealed to marketers. SNAP has recorded a 50-day average of $21.78 and a two hundred day average of $21.81. The company is expected to post a loss for the quarter, and has seen its share values decline from their post-IPO peak, although they're still trading higher than the $17-per-share price of the initial public offering.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Wednesday, May 10th. The company reported ($2.31) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($2.05) by $0.26. Regardless, Snap should stay firm and not agree to lower rates based on its somewhat underwhelming performance in the first quarter of the year, the technology executive believes. The same period from previous year had a net loss of $0.14 per share and $38.80 million in revenue in revenue.

Several other brokerages also recently weighed in on SNAP. Wells Fargo & Co assumed coverage on shares of Snap in a research note on Friday, March 31st. They issued a neutral rating and a $24.00 price target on the stock.

Over the last twelve months shares in Snap Chat have increased by 0% from 0.00 to 19.14. Susquehanna Bancshares Inc reissued a "neutral" rating and set a $22.00 price objective on shares of Snap in a report on Friday, March 17th.

Barclays Capital gave the share price of Snap Chat a price target of 20 meaning the broker expects a potential upside of 4.49% from Snap Chat's current market price of 19.14. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Snap has a consensus rating of "Hold" and a consensus target price of $21.93.

Hedge funds have recently added to or reduced their stakes in the company. KPCB DGF Associates LLC purchased a new stake in Snap during the first quarter worth $40,911,000. Edge Wealth Management LLC bought a new stake in shares of Snap during the first quarter worth approximately $257,000. Benjamin F. Edwards & Company Inc. acquired a new position in Snap during the first quarter valued at approximately $158,000. Narwhal Capital Management purchased a new stake in Snap during the first quarter worth $282,000.

Recommended News

  • Portugal's Salvador Sobral wins 2017 Eurovision Song Contest

    Portugal's Salvador Sobral wins 2017 Eurovision Song Contest

    Ukraine won the 2016 Eurovision Song Contest , so this year's competition will be held in Kiev. If there's a song that will get you dancing come the Eurovision final , this is it.

    Did unpatched Microsoft exploit lead to massive NHS ransomware attack?

    Hospitals across England have canceled appointments and turned away patients after suffering an apparent cyberattack. Several British hospitals say they are having major computer problems Hospitals in London, northwest En.

    Markieff Morris slaps Stephen A Smith on butt after Game 6

    When made aware of it, Beal, who had a game-high 33 points, did a double-take as Wall explained his actions. Wall's heroics came after Al Horford's jumper with 7.7 seconds left put the top-seeded Celtics ahead 91-89.
  • Eric Bailly could face extended ban after Europa League dismissal

    We have now lost a very important player for the final - and we don't have many . I always saw Sergio supporting David, David supporting Sergio.
    Snap reports $2.2bn loss in Q1, slams Facebook

    Snap reports $2.2bn loss in Q1, slams Facebook

    Net loss rose from $104.6 million to $2.2 billion, which is thought to have been because of costs associated with the March IPO. Both Facebook and Twitter had plenty of hype around their IPOs only to crash after reporting earnings for the first time.
    Djokovic and Nadal battle through in Madrid

    Djokovic and Nadal battle through in Madrid

    Argentina's Pablo Cuevas also booked his place in the last four with a 3-6 6-0 6-4 win over Alexander Zverev of Germany. Djokovic hasn't played in the semifinals of any event since winning the title in Doha at the beginning of the year.
  • China's leader offers billions for new Silk Road initiative

    The Beijing-led two-day worldwide conference that kicked off on Sunday, 14 May, is seen as China's answer to Davos or the G20. The second was his friendly meeting at his Mar-a-Lago resort in Florida with Chinese President Xi Jinping.
    Sally Yates: Alarm about Russian blackmail led to warning on Michael Flynn

    Sally Yates: Alarm about Russian blackmail led to warning on Michael Flynn

    Press Secretary Sean Spicer also alleged that the former acting attorney general, who is from Atlanta, is an anti-Trump partisan. Yates' warning about Flynn in January capped weeks of building concern among top Obama officials, former officials told the AP.
    Arsene Wenger never stopped believing in character of his Arsenal team

    Arsene Wenger never stopped believing in character of his Arsenal team

    However, should Arsenal win their game in hand and Liverpool slip up in their remaining two matches, a final play-could be needed. Arsene Wenger , a target of abuse for much of the season, was even greeted with rapturous applause as he walked toward the fans.
  • Frankie Edgar Breezes Past Yair Rodriguez With Doctor Stoppage

    Frankie Edgar Breezes Past Yair Rodriguez With Doctor Stoppage

    A ruthless ground-and-pound assault and a likely 10-8 round left Rodriguez with his left eye swollen almost shut. Edgar went back to the same formula in round two, scooping Rodriguez into the air and planting him on the mat.

    Garcia aces famed 17th at Sawgrass

    Rory McIlroy didn't break par at the TPC Sawgrass until his fourth appearance in The Players, including the year after he won the U.S.
    Spicer Calls Sally Yates a 'Political Opponent' of Trump

    Spicer Calls Sally Yates a 'Political Opponent' of Trump

    Because she, as acting attorney general, knew the actual contents of those conversations. Flynn eventually resigned his post, nearly three weeks after Yates offered her warning.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.