April 23, 2018

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?


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.

Steve Bannon 'will not testify' over Russian Federation collusion
The White House did not immediately respond to a request for comment and neither did an attorney for Bannon. Bannon declined to answer the questions in light of executive privilege concerns, a claim of privilege Rep.

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.

Other News

Trending Now

Nova Scotia premier weighs in on wine war between BC and Alberta
Premier Rachel Notley says Alberta has a constitutional right to export through British Columbia, come hell or high water. Grande Prairie Mayor Bill Given said the dispute places Peace Country municipalities in an awkward position.

Wheeling-Dealing Pistons Pull Off Trade For James Ennis
Nelson is playing his 14th season in the National Basketball Association , averaging career lows in most major stat categories. Nelson was a member of the 2009 Orlando Magic team with Dwight Howard that Stan Van Gundy coached to an NBA Finals appearance.

WikiLeaks founder Assange loses legal bid to quash British arrest warrant
Assange had stayed at the embassy, fearing that extradition to Sweden could lead to an extradition by the U.S. Assange faces arrest if he leaves the embassy, where he has been holed up for five and a half years.

Cavs' Tyronn Lue: Isaiah Thomas' critique of adjustments 'not true'
Thomas has not made ardent strides since coming back from a torn labrum in his right hip that sidelined him for 7½ months. After all, there's not a whole lot to like after this season.

American troops leaving Iraq for Afghanistan
The US military will gradually reduce the number of American troops in Iraq, an official in Baghdad said yesterday. The contractors say dozens of American soldiers have left on daily flights over the past week.

Hovering imports push USA commerce deficit to nine-year excessive
Imports advanced 2.5 percent to $256.5 billion, boosted by record US purchases of consumer goods, capital goods and food products. A widening trade deficit threatens to undermine the Trump administration's goal of achieving 3 percent or better economic growth.

Obama 'Needs to Know The whole lot We're Doing — FBI Texts
Strzok and Page were both heavily involved in the email investigation as well as the Russian Federation collusion investigation. The Justice Department turned the messages over last month to six congressional committees, including Johnson's.

Harrison Ford Is (Unofficially) Involved With 'Solo: A Star Wars Story'
Mark Hamill has offered his thoughts on the teaser trailer for the upcoming second Star Wars spin-off, Solo: A Star Wars Story . This is echoed by director Ron Howard who approached the legendary star for insight into his character.

ESPN Plus streaming service to launch this spring for $4.99/month
This was partially offset by an increase in games, which was driven by licensing revenue from Star Wars Battlefront II . All this was more than offset by decreases in home entertainment and TV/subscription video-on-demand distribution.

Rob Gronkowski home burglarized while he was at Super Bowl
Police in Foxborough, Massachusetts, released a portion of the call on Tuesday. No other burglaries were reported in the neighborhood, according to Baker.