Snap Inc. (NYSE:SNAP) Posts Earnings Results, Beats Expectations By $0.13 EPS

Roger McNamee

Previously on 6/21/2017, Aegis Capital reported about Snap (US:SNAP) lowered the target price from $20.00 to $19.00. Accern also gave news coverage about the company an impact score of 45.0838422636603 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock's share price in the near term. Revenue also disappointed, and the shares tumbled as much as 18 percent in late trading. KPCB DGF Associates LLC acquired a new position in shares of Snap during the first quarter valued at about $40,911,000.

ILLEGAL ACTIVITY WARNING: "Snap Inc". Private Advisor Group LLC increased its position in Snap by 6.7% in the second quarter. Finally, Essex Investment Management Co. Hedge funds and other institutional investors own 30.16% of the company's stock. The firm has a 50 day moving average of $15.61 and a 200 day moving average of $19.35.

Snap Inc's misfortunes are weighing heavily on Silicon Valley as more loss making tech companies, including Uber and Airbnb, consider stock market sales. The firm's revenue for the quarter was up 153.1% compared to the same quarter a year ago. The company reported ($2.31) earnings per share for the quarter, missing the Zacks' consensus estimate of ($2.05) by $0.26.

The company pulled in about $182 million in revenue, up from $72 million during the same period a year ago. Snap's revenue was up 153.1% on a year-over-year basis. But the firm added just seven million new users in the quarter, compared to eight million in the first three months of the year. If you are viewing this story on another website, it was illegally copied and reposted in violation of worldwide trademark and copyright legislation. The legal version of this report can be read at https://www.themarketsdaily.com/2017/08/11/nn-investment-partners-holdings-n-v-raises-stake-in-snap-inc-nysesnap-updated-updated.html.


A number of equities analysts have recently commented on the stock.

Chief Executive Evan Spiegel made an important promise to investors Thursday, but that wasn't enough to overcome disappointing quarterly earnings and declining ad rates that pushed the young public company's shares toward new lows. As many as 1.2 billion shares will be freshly available for trading by the end of the month, and investors are anxious the new shares will drive down prices. Goldman Sachs Group, Inc. Analysts predict that Snap will post ($0.56) earnings per share for the current year.

Snap shares fell by more than 16 percent in after-hours trading after the company released its numbers. Nine analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have issued a buy rating to the stock. Snap now has an average rating of "Hold" and a consensus target price of $20.90. Snapchat opens directly into the Camera, helping in creating a Snap and sending it to friends.

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