Snap misses across the board for Q2 earnings, stock dives

Snap Inc. (NYSE:SNAP) Stock Rating Reaffirmed by Wells Fargo & Company

Hedge funds have recently made changes to their positions in the company. Finally, Jennison Associates LLC acquired a new position in Snap during the first quarter valued at about $119,178,000. WFG Advisors LP bought a new stake in shares of Snap during the first quarter valued at about $109,000. Finally, Mirae Asset Global Investments Co. The company paid out $242m in stock based payments and associated taxes over the quarter.

Snap (SNAP) opened at 13.77 on Friday.

Snap Inc. has a 52 week low of $11.90 and a 52 week 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 firm has a 50-day moving average of $16.13 and a 200-day moving average of $19.59.

Snap's latest earnings report highlights the need for drastic action. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.13. The company's revenue for the quarter was up 285.6% on a year-over-year basis. Raymond James Financial, Inc. initiated coverage on Snap in a research report on Tuesday, April 25th. He highlighted the fact that Snap added 4 daily users in North America, the world's largest ad market. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of worldwide copyright legislation. The correct version of this piece can be accessed at https://transcriptdaily.com/2017/08/11/snap-inc-nysesnap-stock-rating-reaffirmed-by-barclays-plc.html. Snaps are viewed primarily through the Snapchat application, but can also be embedded on the Web or on television in certain circumstances.

Citi Open: Raonic falls in straight sets
Notably, the latter entered the quarter-final after saving a match point to beat world number nine Dominic Thiem on Friday. Although no one was broken in the second set, Thiem managed to break Anderson twice to make the score 4-3 in his favor.

Snap Inc (NYSE:SNAP) continues to sink following its discouraging second-quarter earnings report. The stock debuted at $24, compared with its IPO price of $17.

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 officer Spiegel said neither he nor co-founder Bobby Murphy would sell shares in the company this year as a sign of confidence in its future. Shares were trading Thursday morning at $13.48. 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. They issued a "market perform" rating and a $23.48 price target on the stock.

Yes, Snapchat is far from the only young company to have sentiment turn against it.

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