Snapchat takes another hit on Wall Street

Tristan Harris

FMR LLC acquired a new position in Snap during the first quarter valued at about $737,133,000. Narwhal Capital Management acquired a new position in shares of Snap during the first quarter valued at about $282,000. The company's stock had a trading volume of 66,968,083 shares. Snap has a 12 month low of $11.91 and a 12 month high of $29.44.

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 company's 50-day moving average is $15.37 and its 200-day moving average is $19.24.

Snap's latest earnings report isn't helping either. "We are encouraged by the company's early efforts to increase engagement and content creation on the platform through new products and features". The business had revenue of $181.70 million during the quarter, compared to the consensus estimate of $186.49 million. The firm's revenue was up 153.1% on a year-over-year basis. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 14 cents per share. Raymond James Financial, Inc. initiated coverage on Snap in a research report on Tuesday, April 25th. "(NYSE:SNAP) Shares Bought by NN Investment Partners Holdings N.V." was originally posted by Markets Daily and is owned by of Markets Daily. If you are accessing this piece on another site, it was stolen and republished in violation of United States and worldwide copyright law. The original version of this article can be viewed at https://sportsperspectives.com/2017/08/10/snap-inc-nysesnap-posts-earnings-results-beats-expectations-by-0-13-eps.html.

More news: Jaitley fails to recall real martyrs, says MB Rajesh in open letter

Additionally, its introduction of Snap Map earlier this year has also contributed to the number of snaps published. Canaccord Genuity restated a "hold" rating and set a $22.00 target price on shares of Snap in a report on Friday, May 12th.

Snap has suffered from falling stock prices since floating on the USA share market earlier this year.

Snap is down 28.82% since its initial public offering at $17.

More news: Stephen Curry says playing in pro golf tournament is 'amazing experience'

Note: Call options represent the right, but not the obligation, to buy the underlying security at a predetermined price over a set period of time.

Snap chief executive Evan Spiegel said during an earnings call that he and fellow co-founder Bobby Murphy "believe deeply" in the longterm success of the company and would not sell any of their shares this year. J P Morgan Chase & Co restated a "neutral" rating and set a $18.00 target price (down previously from $20.00) on shares of Snap in a research report on Monday, June 5th. "Snap has tremendous potential if it can capitalize on the opportunity in front of it as an alternative platform for advertisers", but the company is "under pressure from multiple fronts".

Snap Inc. should be very anxious about Facebook's Instagram Stories, which now has more users than Snapchat itself.

More news: Toyota, Mazda unveil capital tie-up plans

Related:

  • Australian Leaders Plan Vote on Same-Sex Marriage, One Way or Another

    Australia's former top statistician says the Bureau of Statistics should not carry out the same-sex marriage postal vote, labelling it a "bad look".
    Special counsel Robert Mueller asks White House for documents on Michael Flynn

    Special counsel Robert Mueller asks White House for documents on Michael Flynn

    The most important role of a grand jury is to determine whether the evidence presented merits bringing charges. Grand juries do not determine guilt or innocence.
    Massive fire rips through Dubai's Torch Tower

    Massive fire rips through Dubai's Torch Tower

    The Dubai Civil Defence confirmed on Twitter that the blaze broke out at the Torch Tower early Friday morning. The new fire code is reported to be almost twice the length of the previous document, at nearly 1,400 pages.
  • PM's word spurred AIADMK factions to resume merger talks

    PM's word spurred AIADMK factions to resume merger talks

    In his statement, Palanisami said that Dinakaran's appointment was unacceptable, improper and invalid. Dinakaran was the party candidate in the bypoll necessitated by the death of Jayalalithaa.
    IPhone 8 Delay Rumors Could Have Been Unfounded, Says KGI Analyst

    IPhone 8 Delay Rumors Could Have Been Unfounded, Says KGI Analyst

    The latest Kuo report comes after another one which indicated the Touch ID under the display is not happening on the iPhone 8 . The display glass will have a graphite layer beneath the surface to protect the smartphone from overheating.
    Kimberley Walsh praises 'brave' Sarah Harding for CBB stint

    Kimberley Walsh praises 'brave' Sarah Harding for CBB stint

    Ex On The Beach star Jemma grins before repeating the question, to which Sarah adds: 'It's not for me to say'. She did confess however, that while they were once close, it wasn't always easy being part of a girl band.
  • Rafael Benitez admits to his frustrations at Newcastle United

    Rafael Benitez admits to his frustrations at Newcastle United

    "We missed some targets at the beginning and we are paying for that, but hopefully we can find some solutions". Average players now cost big money. "We are now trying to work in different directions".
    US Military searches for three lost Marines

    US Military searches for three lost Marines

    Thirteen US aircraft were sent to Australia as part of the deployment, including the tilt-rotor Ospreys, Reuters reported. The battle phase of the training exercise centred around the Shoalwater Bay Training Area in Central Queensland.
    Explosion, Collapse at Minneapolis School

    Explosion, Collapse at Minneapolis School

    HCMC tweeted at 9:19 p.m. that they are now treating four people - one is critical and three are in satisfactory condition. Also among those on the campus were girls for summer cross-country practice, and school basketball and soccer players.
  • Tropical Storm Franklin hits Mexico's Yucatan Peninsula

    Tropical Storm Franklin hits Mexico's Yucatan Peninsula

    Tropical storm warnings extend over most of the rest of the Yucatan Peninsula, including Cancún and Cozumel . A tropical storm warning was posted for the Mexican coast from Chetumal to Sabancuy.

    Solar eclipse eye safety

    The eclipse on August 21 has a narrow path of totality (about 70 miles wide) which goes across the entire country from OR to SC . Flint astronomy buff Mary Coyne is ready for the big event - wearing her eclipse glasses from Longway Planetarium .
    Skype Gets PayPal-Powered 'Send Money' Feature

    Skype Gets PayPal-Powered 'Send Money' Feature

    If you're sending funds from the USA , for example, to someone in Europe, you will have the option to send money in Euros. Skype and PayPal announced today that they have teamed up to allow easy, in-the-moment payments between Skype users.

Comments

Latest news

Contaminated eggs supplied to Irish food businesses, says FSAI
It has since emerged Belgian officials knew about the contamination in June, but did not make the information public. They have reportedly pinned the source of the insecticide to a supplier of cleaning products in the Netherlands .

Cuban diplomats expelled after alleged 'acoustic attack'
Cuban officials have pledged to investigate the incidents as well and take appropriate action, the officials told the Post . The US embassy in Havana only opened in 2015 as part of former President Obama's rapprochement with Cuba.

Chelsea close to signing Arsenal star after increasing bid to £35 million
Chelsea boss Antonio Conte has been frustrated by the lack of transfer activity at Stamford Bridge. One of which is for Arsenal midfielder, Alex Oxlade-Chamberlain.

Three insurgents of Ansar Ghazwatul Hind killed in Tral gunfight
He was also accused of thrashing and torturing some Special Police Officers at gunpoint and circulated the scenes on social media. They alleged, "Ansar Ghuzwat-ul-Hind headed by Zakir Musa has been created to divide Kashmir nation".

South Africa's president survives latest no-confidence vote amidst allegations of corruption
UPDATE: President Zuma has survived yet another motion of no confidence with 198 MPs supporting him and 177 against. "I plead you. Reacting to the vote, Zuma told supporters gathered outside the parliament in Cape Town: "It's hard to defeat the ANC".

Best Hospitals in SE WI: Aurora St. Luke's, Froedtert among top 3
Huntsman Cancer Institute CEO Mary Beckerle cited patients' happiness with their care as tightly connected to the high ranking. News and World Report which ranks hospitals based on patient care, patient safety, clinical resources and family involvement.

Dow ends at ninth straight record, S&P 500 also hits all-time high
The S&P hasn't had a move of more than 0.5 percent since July and has fallen more than 1 percent only twice this year. Warren Buffett's Berkshire Hathaway was down 1.11 percent after the company reported a drop in second-quarter profit.

US Secretary of State cites importance of tie-up with ASEAN
The Trump administration has been seeking closer ties to Russian Federation, especially on fighting ISIS and pressuring North Korea.

Worldwide boss gives verdict on potential Southampton transfer
The Reds boss has already signed left-back Andrew Robertson but the German feels a centre-back isn't an urgent need at Anfield. Whether the Dutch worldwide moves to Anfield or not, his Southampton career must now be at an end.

President Trump attacks Sen. Richard Blumenthal over Vietnam service
Since the arrival of Kelly, who joined Trump in Bedminster over the weekend, the president has continued to be active on Twitter . Like the CT senator, Trump also received five military deferments that allowed him to escape service in the Vietnam War .

12 killed in Nigeria church shooting; drug lords suspected
Philip Catholic church in Ekwusigo local government area of the state . "My heart goes to the bereaved at this moment of pain". Oye, who described the attack as wicked, urged the security agencies to unravel those responsible for the dastardly act.

Gase confirms Dolphins and Cutler have mutual interest following Dolphins intrasquad scrimmage
Should Tannehill be sidelined, Matt Moore would step into the starting role barring any signings from outside of the organisation. The network has been operating all offseason on the assumption Cutler is aboard, shaping their broadcaster lineup accordingly.

Vijender Singh rakes in Twitter applause after stretching streak to 9-0
The 31 year old will go up against China's Zulpikar Maimaitiali , in a victor takes all fight, today in Mumbai . But, Vijender struggled towards the last two rounds with Zulpikar's stamina proving a crucial aspect.

Neymar: I wanted a bigger challenge
Messi posted an emotional farewell video after Neymar bid the players goodbye at the club's Sporting City in Barcelona . Li Liga chiefs tried to block the move on Thursday by refusing to accept the payment of Neymar's release clause.

Poll Shows 'Troubling Trail Of New Lows' For Trump
The June 28 national poll found US voters reject GOP health plan more than 3-1; voters support gun background checks 94-5 percent. That surpassed his previous unwanted benchmarks of 57 percent negative and 34 percent positive ratings in a June Quinnipiac poll.

Other news