Published: Fri, August 11, 2017
Science | By Hubert Green

Snap Shares Hit New All-Time Low

Snap Shares Hit New All-Time Low

Revenue meanwhile more than doubled to $181 million, though it was still below analysts expectations of $186 million. Jefferies Group LLC reaffirmed a "buy" rating and set a $30.00 target price on shares of Snap in a research note on Monday, April 17th. The stock debuted on March 2 at $24, compared with an initial public offering price of $17.

SNAP has been the subject of a number of analyst reports. 10,951,815 shares of the company traded hands.

Spiegel and Murphy's commitment to hold on to their shares will provide a slight boost of confidence for anxious investors, said James Gellert, CEO of RapidRatings, which assesses the financial health of companies.

Wall Street is expecting the company to report a loss of $US0.33 per share on revenue of $US185.78 million, according to data from Bloomberg.

It's worth noting that Snap Inc. didn't go public until March of this year, so we can't really compare the company's current performance to previous quarters. Instinet reiterated a "reduce" rating and set a $14.00 target price on shares of Snap in a research report on Friday, June 9th. Put options represent the right, but not the obligation to sell the underlying security at a predetermined price over a set period of time. Oppenheimer & Co. Inc. raised its stake in shares of Snap by 21.1% in the second quarter. WFG Advisors LP acquired a new position in Snap during the first quarter valued at $109,000.

Last month, Morgan Stanley, which helped underwrite Snap's I.P.O., issued a report on the company that questioned the measurement tools that Snap makes for advertisers. Nine research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. The company reported ($2.31) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($2.05) by $0.26.

That 17 percent implied is second-highest among 120 stocks reporting earnings Thursday through August 31, with at least $1 billion in market cap and open interest of at least 20,000 options.

TRADEMARK VIOLATION NOTICE: "Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Snap (NYSE:SNAP) Share Price" was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of global trademark and copyright law.

Earnings season upon us and Snap Inc., formerly known as Snapchat, released its earnings report for the quarter that just ended.

Like this: