Snap Inc. (NYSE:SNAP) Given "Buy" Rating at Drexel Hamilton

Snapped

Other messaging apps are looking to clone Snapchat, too.

Snap shares have been trending down for several months, with Morgan Stanley analyst Brian Nowak putting out word that Snapchat advertising products were not catching on as quickly as had been expected.

The company did not hit Wall Street's benchmarks, sending the stock down as much as 10 percent during afterhours trading on the NYSE. Instagram in its entirety, meanwhile, had more than 400 million daily users as of February, the last official count.

Investors have always been sceptical of Snap's long-term prospects and its ability to turn rising revenues to profits for shareholders amid intense competition from rivals such as Facebook. To prove their confidence, co-founders Evan Spiegel and Bobby Murphy have agreed not to sell any shares this year, and the company will withhold shares they're owed to pay for any necessary taxes. Neither plans to dump stock anytime soon, and the company has waved off rumors of a potential $30-billion acquisition offer from Google.

Daily users of Snapchat increased to 173 million, but analysts had expected a couple of million more.

The pork partier did serve as a nice sideshow distraction from the gobs of money Snapchat managed to lose in the past quarter-enough to buy more than 100 million real hot dogs, as one Gizmodo reporter pointed out.

Snap (NYSE:SNAP) last issued its quarterly earnings data on Thursday, August 10th.

Analysts such as Ralph Schackart at William Blair have suggested investors should wait it out as Snap captures more interest. Daily active users on average posted 20 snaps a day.

School and the football season starting provide tailwinds that could propel interest in Snapchat as people encounter new friends and dial into sports highlights. Finally, Jefferies Group LLC restated a "buy" rating and issued a $30.00 target price on shares of Snap in a research report on Monday, May 22nd. On average, equities analysts forecast that Snap will post ($0.56) earnings per share for the current fiscal year.

Additionally, Spiegel said the company is working to stabilize the backend infrastructure of Snapchat's Android app. 60% of ads on the platform are now served programmatically. He highlighted the fact that Snap added 4 daily users in North America, the world's largest ad market. Vanguard Group Inc. raised its stake in shares of Snap by 23.7% in the second quarter. He also touted the success of the company's early shows effort, with one called "Phone Swap" getting picked up for TV and another winning an Emmy award. The company earns some revenue from branded or sponsored filters and lenses, but the bulk comes from advertisements. The "dancing hot dog" was released around July Fourth and captured the attention of the internet while also showcasing Snapchat's latest visual technology.

Related News:



Most liked

AIADMK merger issue: Apt word for Dinakaran is '420', says TN CM
If Dinakaran were to mobilise support - 37 MLAs were said to be backing him - it would endanger the Palaniswami government. But negotiations appear to be stuck at the Panneerselvam demand of sacking Sasikala from the party and government.

United States says two Cuban diplomats expelled after 'incidents' in Havana
It is understood that the two expelled Cuban diplomats left Washington DC in May, the BBC's Will Grant reports from Havana. President Trump has criticized the reopening of diplomatic relations with Cuba, calling it "a completely one-sided deal".

Deposed Pakistani Prime Minister Continues March Toward Lahore
The PTI leader further stated that PML-N is not allowing Shehbaz Sharif to take the reigns of the party. He said that most of the PML-N members were of the opinion that party be handed over to Shahbaz Sharif.

McGregor and Mayweather request smaller gloves
Floyd Mayweather hasn't forgotten about the racist comments Conor McGregor made during their worldwide press tour last month. The Mayweather-McGregor bout will be available on Showtime pay-per-view at a cost of $89.95 ($99.95 for high definition).

Natural disaster in Sichuan, China Kills 19
The epicentre of the tremor was in Ngawa prefecture, largely populated by ethnic Tibetans, many of whom are nomadic herders. The number of people injured during a powerful natural disaster in China's southwestern Sichuan province has grown to 493.

PlayStation 4 Firmware Update 5.0 Will Add 1080p Twitch Streaming, Other Improvements
Why the change? Sony's documentation states this is to "encourage more sharing of content and more interactions". The update is also going to include several minor changes such as support for additional languages and more.

Johns Hopkins Hospital Voted 3rd Best Hospital In US
Massachusetts General Hospital in Boston took the No. 4 spot, and UCSF Medical Center in San Francisco came in No. 5. And they're practically all-encompassing - they include ratings of 25 specialties, conditions and procedures.

As Tillerson Downplays North Korea Threat, White House Continues to Escalate Tensions
Gorka defended Trump's silence on the issue by claiming that the attack may have been a left-wing plot disguised as a hate crime. For the people of Minnesota, whose mosque was attacked on Saturday, however, Trump has nothing to say.

Disney, ESPN to launch multi-sport streaming service in 2018
Big titles coming that year include " Toy Story 4 ", " Frozen 2 ", and the live-action " The Lion King ", CNBC reported . Disney's exclusive deal with Netflix was settled in 2012, but had only come into action a year ago .

Sanchez to miss start of season
Players like Mesut Ozil, Aaron Ramsey and Per Mertesacker are also uncertain for the Leicester clash. When asked if the club had any others for the Chilean, Wenger replied "I can not tell you that.

Atlantic high pressure to affect weekday weather
The rain and clouds will help keep temperatures slightly lower than is typical for this time of year. Scattered thunderstorms are expected on Tuesday through Thursday with the front in the area.

Mosque bombing an act of terrorism, Minnesota governor says
Mark Dayton (D) on Sunday visited the center and called the bombing "an act of terrorism". No injuries were reported after the building was heavily damaged at 5:05 a.m.

Income Tax Department Deactivated 11 Lakh PAN Cards ; Know your PAN Status
Now you will direct to next page, and you need to provide information such as your name, status, date of birth and mobile number. If there is more than one PAN number registered with the same details, you will see a notification regarding the same.

Former Baseball Star Don Baylor Dead at 68
Not all of his records were great for Baylor; at the time of his retirement, he had been hit by pitches a then-record 267 times. Baylor got his World Series ring with the Twins in 1987, proving that nice guys do finish first on occasion.

Russian billionaire Roman Abramovich splits from wife
They had five children together and ended their marriage in Russian Federation with no details of the divorce made public. He is known for his love of luxury, owning the world's second-largest yacht and a portfolio of property across the world.