Snap shares dive 17% as user growth slows

Roger McNamee

Jefferies cut its price target the most - from $30 to $16. If the penetration figure doesn't budge in the next earnings report, that could put a wrinkle in Snap's positioning as a complement to Facebook. The stock has slumped 19 percent since Snap's March 1 IPO at $17 a share, closing at $13.77 in NY on Thursday. Finally, Vetr lowered shares of Snap from a "buy" rating to a "hold" rating and set a $13.95 price objective for the company.in a research report on Monday. They issued a "hold" rating and a $22.00 price target on the stock. They issued a "market perform" rating and a $23.48 target price on the stock.

Snap (NYSE SNAP) traded up 4.33% on Friday, reaching $13.49. The stock's market cap is $15.92 billion.

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On Thursday afternoon, Snapchat will issue its second-ever earnings report. The company's user growth started slowing down in the back half of 2016, and it's already falling short of Wall Street growth estimates less than six months in. The average amount of revenue made per user increased by 109 percent over the year to $1.05.

Average revenue per user was US$1.05 in the quarter, Snap said, below the US$1.07 expected by analysts according to FactSet but up from 50 cents a year earlier. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of global copyright legislation. The correct version of this story can be viewed at https://www.com-unik.info/2017/08/11/snap-inc-nysesnap-given-buy-rating-at-drexel-hamilton.html.

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Snap warned that its technology costs rose in the last part of the second quarter as users flocked to a new, data-intensive feature, Snap Maps. BlackRock Inc. now owns 10,343,549 shares of the company's stock worth $183,805,000 after buying an additional 936,791 shares during the period. The company leveraged its Windows platform to pulverize Netscape, which would go on to lose much of its market share within a few years. Harel Insurance Investments & Financial Services Ltd. increased its stake in shares of Snap by 654.0% in the second quarter. Google reportedly expressed an interest in buying the company for $30bn past year. Ltd. purchased a new position in Snap during the first quarter valued at $223,000. For the sake of SNAP stock investors, taking the money from Alphabet - if it's still on the table - is the best option now.

Spiegel touted Snapchat's Memories feature, which acts like a camera roll for saving photos and videos that would otherwise expire. (SNAP) has revolved around the impact of Facebook's clones - Instagram Stories especially - on Snapchat's user growth. 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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