Snap Inc. (NYSE:SNAP) Sets New 52-Week Low at $14.16

12 August, 2017, 00:36 | Author: Jeannette Greene
  • Investors Buy Large Volume of Call Options on Snap (NYSE:SNAP)

Is Spiegel alone in his assessment?

Today, Snap did little to change its trajectory when it reported quarterly earnings that missed Wall Street projections.

With sentiment at such ghastly levels, and our view that Snap can monetize its unique position with millennials, we believe the stock is in a bottoming process.

About 55.04 million shares traded or 143.22% up from the average.

Snapchat is now a company that has to prove it's growing and simply saying that there's a long-term plan to do so isn't going to be enough. The rating was maintained by Drexel Hamilton on Monday, July 17 with "Buy".

Credit Suisse analyst Stephen Ju wrote that Snapchat is a scarce asset that offers advertisers access to a coveted demographic: millennials. The company now has a consensus rating of "Hold" and a consensus price target of $20.39. Drexel Hamilton restated a "buy" rating and issued a $30.00 price objective on shares of Snap in a research note on Thursday, May 11th. That said, Snap still appears to be in the early stages of its monetization process. UBS analysts, however, expected for Snap to have 174 million users.

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. Snap has a 1-year low of $11.81 and a 1-year high of $29.44. Cowen and Company reiterated an "outperform" rating and set a $26.00 price objective on shares of Snap in a research report on Tuesday, May 9th.

Snapchat picked up fewer users and less revenue in the second quarter than analysts had expected, sending shares of owner Snap Inc. tumbling Thursday afternoon.

On Thursday, the social network (which calls itself a "camera company" now) said it gained 7 million daily active users over the past three months, a modest rise from the 166 million daily active users during its earnings report in May. For comparison, two of Facebook's Snapchat Stories clones, Instagram Stories and WhatsApp Status, have now topped 250 million DAUs. That represents a decline of almost 50 percent from an all-time high of $27.09 on March 3, Snap's second day of trading. It carries an IBD Composite Rating of 14 out of a possible 99. This is an important metric for Snap because because the company says it's a good indicator of its business growth - and a reflection of its strategy to push hard into more mature advertising markets.

Wall Street brokerages expect Snap Inc. Snap's "other" revenue, which is largely comprised of Spectacles sales, was only $5.4 million, down from $8.3 million in the first quarter. Snap presently has an average rating of "Hold" and an average target price of $20.90. Kees said it's too early to determine the impact of new products as well as the effectiveness of Snap's ad platform.



Russian Federation flies military observation plane over Capitol, Pentagon, CIA
The alert did not state who owned the plane, but said it "will be large and may fly directly over the U.S. The flight was carried out in the framework of the open skies Treaty between the two countries .

Man who shot officer in Brooklyn kills himself
The call was from a woman who said her 29-year-old mentally deranged son was in their residence in Brooklyn with her. Police say a New York City officer was shot and wounded in Brooklyn by a gunman who later committed suicide.

Chicago Bears training camp: Quarterback position battle
Trubisky replaced Sanchez with 1:55 left in the first half, engineering a 6-play, 50-yard touchdown drive in two-minute mode. Despite this, Bears head coach John Fox noted Thursday night that the team's quarterback depth chart will remain unchanged.

United Kingdom supermarkets pull products as fipronil egg contamination scandal widens
Around 700, 000 potentially contaminated eggs have been distributed throughout the United Kingdom , it has been revealed. Aldi and Lidl stores in Germany , along with Dutch supermarkets, have already taken millions of eggs off their shelves.

Original JD(U) is with me, says Sharad Yadav
Neeraj Kumar said that party's Muzaffarpur district unit has send a proposal to initiate disciplinary action against Ramai Ram. Party sources said that JD (U ) state president sought a report on leaders who had gone to meet Yadav at the airport.

John Mayer pays tribute to Glen Campbell on Nashville stage
He drank heavily, used drugs and indulged in a turbulent relationship with country singer Tanya Tucker in the early 1980s . Campbell's work on "Strangers In The Night" was like all of his studio work-exactly what was needed, no more, no less.

Investors seek safe bets as Wall Street closes lower
Gold rose 1.2 percent, while the Swiss franc was on track to post its biggest single day rise in about two-and-a-half years. Ten out of the 11 major S&P 500 sectors fell after the comments with the only gains seen in the utilities sector.

PlayStation 4 firmware update 5.0 will add 1080p60 Twitch streaming
You will also be able to follow an account without having to wait for verification and without it filling up your friend limit. Expect 5.00 sometime in the near future alongside an overhauled PlayStation App that isn't quite as useless as it now is.

Kenya polls open amid fears of rigging
Vote counting got underway in several parts of Kenya Tuesday evening following close of polling at the official time: 5pm EAT . The veteran voter did her civic duty at a polling station set up in a primary school in Gatundu, north of Nairobi .

Christian ministries prepare to preach the Gospel on day of solar eclipse
Southern Denton County is not in line to see the upcoming solar eclipse in totality, but it will certainly notice it. For the first time in nearly 40 years the path of the moon's shadow passes through the continental United States .