SNAP - Snap Inc.

NYSE - NYSE Delayed price. Currency in USD
15.89
-0.26 (-1.61%)
At close: 4:05PM EST

15.90 +0.01 (0.06%)
After hours: 7:59PM EST

Stock chart is not supported by your current browser
Previous close16.15
Open16.31
Bid15.90 x 4000
Ask15.95 x 3000
Day's range15.76 - 16.35
52-week range9.16 - 19.75
Volume20,093,814
Avg. volume23,816,400
Market cap22.567B
Beta (5Y monthly)1.06
PE ratio (TTM)N/A
EPS (TTM)-0.75
Earnings date20 Apr 2020 - 26 Apr 2020
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est20.03
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  • Twitter Buys Chroma Labs, Startup Founded by Facebook Veterans
    Bloomberg

    Twitter Buys Chroma Labs, Startup Founded by Facebook Veterans

    (Bloomberg) -- Twitter Inc. is acquiring Chroma Labs, a seven-person startup that was founded by former Facebook and Instagram employees for building photo and video-editing features.Chroma Labs was launched last fall with an app that lets people edit photos and videos before sharing them on the Stories features inside other apps, like Instagram or Snap Inc.’s Snapchat. The company is joining Twitter to “give people more creative ways to express themselves in conversations,” said Twitter’s head of product, Kayvon Beykpour, in a tweet. A Twitter spokesman declined to comment on deal terms.John Barnett, Alex Li and Joshua Harris, Chroma Labs co-founders, worked on products at Facebook Inc. before setting out on their own to build a company around creative editing tools. While at Facebook, the group’s members were involved in projects such as Instagram Stories, augmented-reality camera effects and Oculus virtual-reality headsets. Early investors in the San Mateo, California-based startup include Index Ventures, Sweet Capital and Combine VC.Twitter has said that improving conversations on the social-media service is a top priority. In recent weeks, the San Francisco-based company has changed the way some user interactions appear in the app and has added the ability to respond to direct messages with emojis. Twitter hasn’t unveiled a Stories-like product for disappearing posts, though it introduced some camera features like tags and labels last year.“[We] built Chroma Labs and many successful products together to inspire creativity and help people tell their visual stories,” Barnett said in a statement. “We look forward to continuing this mission at a larger scale with one of the most important services in the world.”To contact the reporter on this story: Kurt Wagner in San Francisco at kwagner71@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • Snap (SNAP) Q4 Earnings Beat Estimates, Revenues Rise Y/Y
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  • Snap Analysts Say Bull Case Is Intact Despite Revenue Miss
    Bloomberg

    Snap Analysts Say Bull Case Is Intact Despite Revenue Miss

    (Bloomberg) -- Snap Inc. shares tumbled after the social-media company’s revenue missed expectations, snapping six quarters of beats. The Snapchat parent also gave a first-quarter sales outlook that was seen as light.Analysts broadly described the quarter as mixed, noting strength in metrics like user growth and engagement. Because of these offsetting factors, Barclays wrote that the size of the share-price drop seemed “a bit harsh.” UBS wrote that the quarter “contained enough mixed messages to cause a negative reaction in the shares that seemed rational short-term.”Brokers also pointed to recent gains in Snap shares, a sign of elevated expectations going into the print. “While the report was generally in-line,” Susquehanna wrote, “it wasn’t good enough to sustain the stock momentum.”Shares sank as much as 7.3%. This comes after a rally of nearly 35% between a December low and the close of trading on Tuesday.Here’s what analysts are saying about the results:BofA, Justin Post“User growth continues to accelerate, while company execution has seemingly turned the corner.” The valuation is high, but Snap “has a clear path ahead to better monetize its highly engaged and growing user base.”Buy rating, $22 price target.UBS, Eric SheridanThe results “contained enough mixed messages to cause a negative reaction in the shares that seemed rational short-term.” Snap needs upside in both revenue and user growth to sustain the momentum in the stock.Sees continued “strong performance in user growth/engagement, yield from platform investments & improved benefits of scale pointing toward profitability.”Buy, $24 price target.Barclays, Ross SandlerA sell-off of this magnitude “seems a bit harsh,” but is “not surprising” given the valuation.Would use the decline as a buying opportunity as Snap “is one of the few names with a strong possibility of accelerating growth and profit inflection in 2020.”Overweight, price target raised by $1 to $23.Jefferies, Brent ThillThe revenue miss and deceleration in North American revenue “should not cause major concern,” as the company’s underlying fundamentals “remain very healthy.” The first-quarter outlook implies an acceleration in user growth, and “we think they can nearly double” average revenue per user (ARPU) over a three-year period.However, these results come in the wake of similarly disappointing numbers from both Facebook and Alphabet, “raising questions about the durability of the U.S. ad market.”Buy, $21 price target.Susquehanna Financial Group, Shyam PatilExpectations were high going into the news, and “while the report was generally in-line, it wasn’t good enough to sustain the stock momentum.”But the company “continues to progress on its turnaround,” with strong daily active user growth and improving monetization. “We like the recent improvements to execution across the business.”Neutral, price target to $17 from $16.Citi, Jason BazinetSnap “continued to deliver strong sequential global DAU growth,” though the quarter was mixed overall.Neutral rating, “as we believe there could be top-line revenue risks on Street 2021 estimates due to ARPU growth pressures.”JMP Securities, Ronald Josey“Expectations were elevated into what we view as a solid result.”The deceleration in revenue was related to a shorter holiday shopping season, a factor that “had an outsized impact on results, due partly to Snap’s greater reliance on brand advertising.” Because of this, the results are “more of a one-time event,” and revenue growth should re-accelerate in the first-quarter.“Snap’s ad business and platform overall is significantly better positioned to continue closing its ARPU gap relative to Twitter and Facebook.”Market outperform, $22 price target. “We are buyers, especially on any pullback in shares.”RBC Capital Markets, Mark MahaneySnap was “was more materially impacted by [a] shortened holiday season” than either Facebook or Alphabet given “less supply constraints.”The company is “still at an inflection point,” so the stock is “still investable.”Outperform, $21 price target.Cowen, John BlackledgeBoth the results and the first-quarter outlook were mixed, though engagement was a bright spot. “The platform continues to reap the rewards of app improvements over the past several quarters, including the rework of the Android application. These improvements have helped to drive better engagement and user retention.”Outperform, $20 price target.What Bloomberg Intelligence Says:“Snap’s below-consensus 1Q guidance shows it’s still figuring out revenue scaling as user growth stays strong.”There is “room for upside surprises for the year,” and user growth can help the company overcome the outlook.\- Analyst Jitendra Waral\- Click here for the research(Updates to market open, adds comments from BofA, UBS and Barclays)To contact the reporter on this story: Ryan Vlastelica in New York at rvlastelica1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Will Daley, Scott SchnipperFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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  • Business Wire

    Snap Inc. Files Annual Report on Form 10-K

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  • Bloomberg

    Snap Quarterly Revenue Disappoints; Stock Tumbles

    (Bloomberg) -- Snap Inc. reported quarterly sales that missed Wall Street estimates, a sign that the photo-sharing app is finding it harder to carve out a niche in the crowded digital-advertising market. Shares slumped 12% in extended trading.Fourth-quarter sales totaled $560.9 million, the company said Tuesday in a statement. That was less than analysts’ average projection of $562.9 million. Snap’s first-quarter revenue forecast also came in slightly below expectations.The owner of the Snapchat app last year executed a turnaround after a much-criticized redesign, a series of executive departures and job cuts, and a rocky 2017 initial public offering. The company added more users than expected in the fourth quarter, as people downloaded a better Android version of the photo chat app, but it still isn’t profitable -- Snap reported a quarterly and annual net loss, including a $100 million payment to settle a lawsuit related to the IPO. Before the report, investors had been optimistic about the company’s prospects, and the stock had gained about 16% this year.“We are working hard to scale our revenue so that we are able to self-fund our investments in the future,” Chief Executive Officer Evan Spiegel said in prepared remarks to investors.The stock dropped as low as $16.08 in late trading following the earnings report, after closing at $18.98 in New York earlier on Tuesday.Snap operates in a competitive digital-advertising market, where Google and Facebook Inc. capture the bulk of sales. It also faces the emergence of new competitors for young social-media users, like ByteDance Inc.’s TikTok. Still, Spiegel argues Snap has an opportunity to sell advertisers access to a younger audience.The Santa Monica, California-based company said on Tuesday that it had 218 million daily active users in the fourth quarter, beating the 214.2 million average analyst estimate. Besides the Android improvements, the company has been drawing more users in with creative photo tools, such as filters that manipulate the age of your face on a sliding scale.The company’s net loss in the recent period, including the legal-settlement charge, was $240.7 million, or 17 cents a share. Snap forecast first-quarter revenue of $450 million to $470 million. Wall Street was looking for $463 million, according to data compiled by Bloomberg.(Updates with legal settlement in the third paragraph)To contact the reporter on this story: Sarah Frier in San Francisco at sfrier1@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Alistair BarrFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Snapchat hits 218M users but big Q4 losses sink share price
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    The big problem was a one-time $100 million legal settlement that pushed it to lose $49 million more in Q4 2019 than Q4 2018. The IPO was soured by weak user growth as people shifted from Snapchat Stories to Instagram Stories.

  • Snap misses quarterly revenue estimates, shares sink
    Reuters

    Snap misses quarterly revenue estimates, shares sink

    Snap, which owns the popular photo messaging app Snapchat, had earlier warned its peak advertising demand period between Black Friday and the December holidays had one fewer week this year. Revenue, which the company generates from selling advertising on Snapchat, rose 44% to $560.88 million but missed the average analyst estimate of $563.03 million. While Snap has invested in a self-serve platform to make it easier for advertisers to buy ad space, it is still a long way from stealing ad dollars from Alphabet Inc's Google and Facebook , which command a huge portion of the digital advertising market.

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