Snapchat results show growth in users and revenue

Snapped

Snap said Thursday that about 25% of smartphone owners in the US are Snapchat users. Pacer Advisors Inc. now owns 9,869 shares of the company's stock worth $175,000 after buying an additional 757 shares during the last quarter.

Hedge funds have recently made changes to their positions in the company. Finally, Dubuque Bank & Trust Co. bought a new stake in shares of Snap during the second quarter valued at about $137,000. Finally, Mirae Asset Global Investments Co.

The company announced overnight that its revenues were growing by only a small amount, and sent its shares into freefall.

Snap (NYSE:SNAP) opened at 13.77 on Friday. The firm has a 50-day moving average of $16.13 and a 200-day moving average of $19.59. Monness Crespi & Hardt lowered shares of Snap from a "buy" rating to a "neutral" rating in a research report on Friday. The company reported ($2.31) earnings per share for the quarter, missing the Zacks' consensus estimate of ($2.05) by $0.26.

Turning to the revenue it is generating off those users, SNAP reported that ARPU in the first quarter increased 181% year over year to $0.90, but that it declined 14% sequentially compared to Q4 2016. It won't be easy for Snapchat to top $1 billion in revenue this year, as investors have expected. On average, analysts anticipate that Snap Inc. will post ($0.56) earnings per share for the current fiscal year.

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Snap Inc lost $443m in the second quarter. He highlighted the fact that Snap added 4 daily users in North America, the world's largest ad market. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States & worldwide trademark and copyright legislation. The correct version of this piece of content can be viewed at https://rinconhillneighbors.org/2017/08/11/snap-inc-snap-receives-average-recommendation-of-hold-from-brokerages.html. Cowen and Company reiterated an "outperform" rating and issued a $26.00 price target on shares of Snap in a research note on Tuesday, May 9th.

Snap has suffered from falling stock prices since floating on the United States share market earlier this year.

Snap Inc.'s growth again fell short of estimates, feeding fears that aggressive competition from Facebook Inc.is blunting the younger social-media company's potential just months after its initial public offering. They noted that the move was a valuation call.

Spiegel tried to tell analysts during the call that there were more numbers to consider than daily users, such as time spent, which was more than 30 minutes a session average.

Investors did seem to find Snap's losses meaningful enough to drive shares lower in late trading Thursday. Nine research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and fourteen have assigned a buy rating to the company.

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