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Snapchat stock soars 20% after ending losing streak

09 February 2018, 04:06 | Francis Delgado

Will Snap Have More Bad News When It Reports Earnings?

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Snap's CEO Evan Spiegel says Snapchat's delayed redesign is testing well and will launch for everyone during the first quarter of this year.

Snapachat managed to overtake most of the forecasts from different analysts; the company managed to buoy their revenue to tremendous levels despite all most all reports showing the absolute opposite. The growth rate (5.05%) was the highest it has been since the third quarter of 2016, when it was 7%. They also noted gains in average revenue per user, when compared with the old design. First Manhattan Co. boosted its stake in shares of Snap by 384.5% during the 3rd quarter. But the company's bet on Spectacles has been expensive, costing the company $40 million last quarter for "excess inventory". Non-GAAP earnings were 14 cents a share for the second quarter.

During the fourth quarter, its ad prices slid again: Snap's price per ad impression slid by 25%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNAP.

Snap Inc. operates as a camera company. Snap has a 52-week low of $11.28 and a 52-week high of $29.44.

The company has a market capitalization of $24,990.00 and a P/E ratio of -6.53. Of the blue-chip brands that did start putting money into Snapchat in 2017, 90% spent money every quarter, suggesting they were happy with the results.

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After the bell, Snap reported $285.7 million in revenue and a loss of 13 cents a share for the three months ended December 3.

Snap (NYSE:SNAP) last released its earnings results on Tuesday, November 7th. The firm had revenue of $207.90 million during the quarter, compared to analysts' expectations of $236.71 million. Snap's revenue past year grew about 104 percent to $824.9 million.

SNAP has been the subject of a number of recent analyst reports.

Snap shares soared by about 20 percent Tuesday on the strength of its unexpectedly upbeat quarterly report. Instagram has been adding more and more features in an effort to push Snapchat out of its own market, so you'd think that Snap would want to publicize any new features as often as possible. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share. Fourteen analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company.

Stifel has a Hold rating with a $13 price target. In other words, even though prices were down, Snap had way more ads to sell. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The stock was sold at an average price of $12.54, for a total value of $3,590,603.28. Following the transaction, the vice president now owns 2,532,598 shares of the company's stock, valued at $31,758,778.92.



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