Snap Inc.'s Slow Second-Quarter Growth Disappoints Wall Street


Finally, Jefferies Group LLC reaffirmed a "buy" rating and set a $30.00 price target on shares of Snap in a research note on Monday, May 22nd. Instinet reiterated a "reduce" rating and set a $14.00 target price on shares of Snap in a research note on Friday, June 9th. Stock traders purchased 38,482 put options on the company. The stock has an average rating of Hold and an average target price of $20.95. The company's 50 day moving average is $15.61 and its 200 day moving average is $19.35.

Last month, Morgan Stanley, which helped underwrite Snap's I.P.O., issued a report on the company that questioned the measurement tools that Snap makes for advertisers.

Snap Inc reported a lower-than-expected number of daily active users for Snapchat, its popular messaging app, for the second quarter as the company grapples with stiff competition from Facebook Inc, sending its shares down about 6 percent in extended trading.

The company reported an adjusted loss of $0.16 a share, a penny below what Wall Street was anticipating. The firm made an average of $1.05 in revenue per user, up 16% from the prior quarter and more than double the period in 2016. On average, equities analysts forecast that Snap will post ($0.56) earnings per share for the current fiscal year.

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Drexel Hamilton restated their buy rating on shares of Snap Inc. The fund acquired 5,700 shares of the company's stock, valued at approximately $101,000. If you are viewing this news story on another website, it was copied illegally and republished in violation of United States & global trademark and copyright laws.

Shares of Snap Inc (SNAP.N) rallied on Wednesday as options traders buckled in for the social media company's quarterly results and after an analyst said the beaten-down stock was "getting interesting". WFG Advisors LP acquired a new stake in shares of Snap during the first quarter worth about $109,000. 32,885,013 shares of the company's stock were exchanged. Benjamin F. Edwards & Company Inc. bought a new stake in Snap during the first quarter worth approximately $158,000.

Consider the companies that have even more analysts than SNAP but with even less market value.

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.