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

Snap Inc. (NYSE:SNAP) Given

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.

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.

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.

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