Snap Inc.'s Slow Second-Quarter Growth Disappoints Wall Street

Snap Inc.'s Slow Second-Quarter Growth Disappoints Wall Street

Snap Inc.'s Slow Second-Quarter Growth Disappoints Wall Street

Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Snap by 654.0% in the second quarter.

On Thursday afternoon, Snapchat will issue its second-ever earnings report. The fund owned 42,406 shares of the company's stock after buying an additional 2,530 shares during the period.

Additionally, its introduction of Snap Map earlier this year has also contributed to the number of snaps published.

Snap's user growth was also hurt by problems faced by users of Android-based phones, mainly outside the United States. FMR LLC acquired a new position in Snap during the first quarter valued at about $737,133,000. Finally, Jennison Associates LLC purchased a new position in shares of Snap during the first quarter worth $119,178,000.

TRADEMARK VIOLATION WARNING: "Snap Inc". Finally, Essex Investment Management Co.

Snap (SNAP) opened at 13.77 on Friday. The stock's 50 day moving average price is $15.27 and its 200 day moving average price is $19.19. The firm's market cap is $16.23 billion. The average amount of revenue made per user increased by 109 percent over the year to $1.05. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.29) by $0.13. The firm's quarterly revenue was up 153.1% on a year-over-year basis. Eight analysts surveyed by Zacks expected $186.9 million. Its stock fell as much as 25% overnight following that report. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & global trademark & copyright law. The legal version of this article can be accessed at However, Instagram recently reported similar numbers.

Snap Inc. was reeling on Friday morning after posting its second straight underwhelming quarterly report, and nobody is feeling the pain more than CEO Evan Spiegel and Chief Tech Officer Bobby Murphy. Goldman Sachs Group, Inc. If the penetration figure doesn't budge in the next earnings report, that could put a wrinkle in Snap's positioning as a complement to Facebook. They now have a $30.00 price target on the stock.

A Business Insider report earlier this month said Alphabet Inc (NASDAQ:GOOGL) floated a hefty $30 billion offer for Snap a year ago, and there might have been other more informal talks beyond that. Nine analysts have rated the stock with a sell rating, twenty have issued a hold rating and fifteen have given a buy rating to the company. Snap presently has an average rating of "Hold" and an average target price of $20.90. It now describes itself as "a camera company" and released its first piece of hardware, glasses with built-in cameras, last year. (SNAP) has revolved around the impact of Facebook's clones - Instagram Stories especially - on Snapchat's user growth.

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