Snap Loses $6B in Market Value Despite CEO Spiegel's Confidence in Future

Marco Green
May 22, 2017

The stock presently has a consensus rating of "Hold" and a consensus price target of $22.47.

According to CNBC, Snap Inc. traders are almost a decade younger than the average age of those trading retail equities. The firm's market capitalization is $17.80 billion. The company reported ($2.31) EPS for the quarter, missing analysts' consensus estimates of ($2.05) by $0.26. Revenue was also lower than expected with the company bringing in $149.6 million in the quarter instead of the $159 million that analysts expected. This is three times what it was at the same time past year but with a sharp decline from the previous quarter. Analysts were only anticipating a loss per share of $0.19.

TRADEMARK VIOLATION WARNING: "Snap Inc (SNAP) Upgraded by Cantor Fitzgerald to Neutral" was published by Markets Daily and is the sole property of of Markets Daily. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/05/11/snaps-snap-buy-rating-reiterated-at-drexel-hamilton.html.

"Snap reported light 1Q17 earnings, representing a decline in revenues vs. 4Q16, which while consistent with the company's prior guidance, nonetheless represents a surprising element of seasonality in the business, and risks of less growth ahead than we previously expected.As a very-early stage company, Snap remains incredibly hard to value vs. other companies in our coverage universe". Prospera Financial Services Inc bought a new position in shares of Snap during the first quarter valued at approximately $418,000. WFG Advisors LP bought a new position in Snap during the first quarter worth about $109,000. Finally, Mirae Asset Global Investments Co. Finally, Jennison Associates LLC bought a new position in shares of Snap during the first quarter valued at approximately $119,178,000.

Snap Inc, formerly Snapchat, Inc, is a camera company. 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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