Published: Fri, August 11, 2017
Research | By Jo Caldwell

Snap Misses Revenue Expectations And Struggles To Grow Its User Base

Snap Misses Revenue Expectations And Struggles To Grow Its User Base

The business had revenue of $149.60 million during the quarter, compared to analyst estimates of $158.32 million.

SNAP has been the topic of several other research reports.

Snap has been in an nearly constant slide since its initial public offering and is down 20.6% from its $US17 IPO price.

SNAP has been the subject of a number of analyst reports. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Private Advisor Group LLC now owns 22,293 shares of the company's stock valued at $379,000 after buying an additional 1,393 shares during the period. Prospera Financial Services Inc bought a new stake in shares of Snap during the first quarter worth $418,000. Wells Fargo & Company reiterated a "market perform" rating on shares of Snap in a report on Saturday, July 22nd. Snap's revenue was up 285.6% compared to the same quarter previous year.

Shares of Snap Inc (SNAP.N) rallied on Wednesday as options traders buckled in for the social media company's quarterly results and after an analyst said the beaten-down stock was "getting interesting". Finally, Jennison Associates LLC bought a new stake in shares of Snap during the first quarter worth about $119,178,000.

Average revenue per user was $1.05 in the quarter, Snap said, below the $1.07 expected by analysts according to FactSet but up from 50 cents a year earlier. WFG Advisors LP bought a new stake in Snap during the first quarter worth approximately $109,000.

Snap stock plummeted on Thursday after revealing that its past few months did not live up to expectations.

In after hours trading, shares of the company are down almost 13%. The company reported ($2.31) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($2.05) by $0.26.

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FBN Securities analyst Shebly Seyrafi on Wednesday cut his price target for Snap's stock to US$17 from US$21, and wrote that at current levels Snap is "getting interesting" and could become an acquisition target for Facebook Inc (FB.O). If you are accessing this piece of content on another site, it was stolen and republished in violation of worldwide copyright and trademark law.

Earnings season upon us and Snap Inc., formerly known as Snapchat, released its earnings report for the quarter that just ended. The Company offers three ways for people to make Snaps: the Snapchat application, Publishers Tools that help its partners to create Publisher Stories, and Spectacles, its sunglasses that make Snaps.

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