|Bid||0.00 x 800|
|Ask||0.00 x 1200|
|Day's range||12.94 - 13.30|
|52-week range||10.50 - 21.22|
|PE ratio (TTM)||N/A|
|Earnings date||8 Aug 2018 - 13 Aug 2018|
|Forward dividend & yield||N/A (N/A)|
|1y target est||11.72|
A few big-name companies have grabbed the lion's share of the IPO limelight so far this year, including major tech players Spotify (SPOT) and Dropbox (DBX). Meanwhile, some investors might have missed just how busy 2018 has been, in fact, June could end up being the busiest month of initial public offerings in three years.
Snap (SNAP) stock declined 9.2% in the two trading sessions between June 19 and June 20. Investors are booking profits after the company’s stock had risen 33.2% in June. However, the stress may not be over for Snap. Snap is still some time away from becoming a profitable company, as it’s seeing a slowdown in its revenue and user base growth.
Snapchat parent Snap (SNAP) and Pandora (P) have partnered in what seems to be a move to benefit from the other’s strength to tackle their respective competition and grow their businesses. Pandora is bringing its music service to Snapchat, allowing Pandora subscribers to send their favorite songs to friends and family across Snapchat. The partnership with Snapchat gives Pandora an opportunity to reach a larger audience, which could, in turn, expand its revenue opportunities.
Twitter’s (TWTR) CEO, Jack Dorsey, has long considered making its service easier to understand and using it to attract more users to the platform. A few years ago, Twitter revealed that over 500.0 million unregistered members access its site every month. Recently, Twitter took a major step toward making its service easier to understand while making it more appealing.
After hitting one billion users, popular social media platform Instagram, which is owned by Facebook (FB), launched a new feature and standalone app called IGTV.
Shares of Facebook Inc. (fb) closed at a record high Wednesday, rising 2.3% after the company said its Instagram platform now has 1 billion users. At an event, Instagram also announced a new app for watching "long-form, vertical video," which will compete with Alphabet Inc.'s (googl) YouTube and Snap Inc.'s (snap) Snap. The service, called IGTV, will have its own app but also be available from within the Instagram app.
Facebook Inc.’s photo-sharing app Instagram has reached 1 billion monthly active users. To spur future growth, the company announced a new feature: Instagram television. Anyone will be able to upload videos for Instagram’s new IGTV section, which will display them full-screen and vertically, the way people naturally hold their phones.
Competition for eyes and ads keeps heating up as Alphabet, Snap, Twitter and Facebook's core platform all ratchet up original and curated content.
Snap has fallen 8.1 percent over the past two trading days, the worst performer in the S&P Software & Services Select Industry Index over the period. The slide began after disappointing user and advertising revenue growth led Cowen Inc. analyst John Blackledge to cut his revenue forecasts for the Los Angeles-based social network for the next six years. Blackledge, who rates Snap the equivalent of a sell, said that a Cowen survey suggested that users were spending less time on the app.
Snapchat's parent company is moving into soft-scripted documentary shows featuring a YouTube star -- a recipe that hasn't worked for Google before.
Shares of Facebook Inc. (fb) are trading at record levels and topped $200 for the first time in Wednesday trading. If the gains hold, this would mark Facebook's third record high in the past week. Shares are now up more than 45% since late March, when news about the company's Cambridge Analytica scandal first broke.
Shares of Snap Inc. are down 1.9% in premarket trading Wednesday after Needham analyst Laura Martin lowered her current-quarter and full-year revenue estimates but increased her profitability estimates. Martin's channel checks "suggest a dramatic slowdown of spending by brands on SNAP in 2Q vs 1Q." She said that the first quarter benefited from key events like the Grammys and the Super Bowl. Martin lowered her daily-active-user projections but raised her profit estimates due to "aggressive cost cutting." She has an underperform rating on the stock.
Shares of Snap Inc. (snap) are down 1.9% in premarket trading Wednesday after Needham analyst Laura Martin lowered her current-quarter and full-year revenue estimates but increased her profitability estimates. Martin's channel checks "suggest a dramatic slowdown of spending by brands on SNAP in 2Q vs 1Q." She said that the first quarter benefited from key events like the Grammys and the Super Bowl. Martin lowered her daily-active-user projections but raised her profit estimates due to "aggressive cost cutting." She has an underperform rating on the stock.
Social messaging and spectacles company Snap (SNAP) will keep growing—but Cowen & Co. analysts cooled their outlook for that growth Tuesday, citing concerns over advertiser satisfaction and user engagement. The bearish report helped Snap shares to a decline of more than 5% on Tuesday, leaving them off about 11% for the year. “Per our recent ad buyer survey, Snap was the lowest Social platform in key attributes like return on equity, data and user targeting,” they wrote.
Cowen reiterates its underperform rating on Snap shares, predicting the social media company will report sales below expectations.