Snapchat adds 7m users but loses revenue

Snapped
Snapped
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12 August, 2017

Shares of Snap (NYSE SNAP) traded down 12.78% on Friday, hitting $12.01. The firm acquired 7,683 shares of the company's stock, valued at approximately $137,000.

Holding out from placing ads is more hard for Snap, which has $2.8 billion in cash and marketable investments. Finally, Dubuque Bank & Trust Co. bought a new stake in shares of Snap during the second quarter valued at about $137,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Snap during the first quarter worth approximately $158,000. Essex Investment Management Co. Hedge funds and other institutional investors own 30.16% of the company's stock.

Snap (SNAP) opened at 13.77 on Friday. The stock's market cap is $15.92 billion. CEO Evan Spiegel said during the company's earnings call that Maps has caused an uptick in submissions to Snapchat's public "Our Story" feature.

Snapchat said revenue over the three months to the end of June was $181.7m, more than double the same period in 2016. Snap's revenue was up 153.1% on a year-over-year basis. On average, equities research analysts expect that Snap will post ($0.56) EPS for the current year.

Snap's monetization also remained somewhat sluggish this quarter, with overall quarterly ARPU coming in at $1.05.

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"We've defended Snap since day one, but now need to see monetization moving in the right direction", Cakmak said. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & global trademark & copyright law. Snap also was the recipient of unusually large options trading activity on Thursday. Stifel Nicolaus cut their target price on shares of Snap from $27.00 to $24.00 and set a "hold" rating for the company in a report on Thursday, May 11th.

Snap began floating on the U.S. stock market in March this year for an initial offer price of $17 a share.

Snap is down 28.82% since its initial public offering at $17. They noted that the move was a valuation call.

While Snap does release daily active user numbers, it doesn't yet include engagement metrics in its earnings releases.

Shares fell almost 8 percent to below $13 at one point in after-hours trading after closing at $13.77, up 21 cents on the day. Nine investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have issued a buy rating to the company's stock. They presently have a $13.00 target price on the stock, down from their previous target price of $18.00. "Snap has tremendous potential if it can capitalize on the opportunity in front of it as an alternative platform for advertisers", but the company is "under pressure from multiple fronts". The Company's flagship product, Snapchat, is a camera application that helps people to communicate through short videos and images known as a Snap.


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