Snap stock extends slide after Needham cites 'dramatic slowdown' of brand spending [MarketWatch]
Snap Inc. Class A (SNAP)
Last snap inc. class a earnings: 4/21 04:10 pm
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Source: MarketWatch
Snap stock extends slide after Needham cites 'dramatic slowdown' of brand spending Shares of Snap Inc. SNAP, -3.53% 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. Snap shares fell 5.3% in Tuesday's session after a Cowen analyst lowered his price target to $9. The stock is down 23% over the past 12 months, while the S&P 500 SPX, +0.31% has gained 13%.
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SNAP
News
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- Snap Inc. (NYSE: SNAP) had its "neutral" rating re-affirmed by analysts at Roth Mkm. They now have a $14.00 price target on the stock.MarketBeat
- FIFTH WALL NAMES JEREMY FOX & G.M. NICHOLAS VIK CO-PRESIDENTS [Yahoo! Finance]Yahoo! Finance
- Bump Raises $3M in Seed Funding to Help Creators Maximize Their Wealth-Creating OpportunitiesPR Web
SNAP
Earnings
- 2/6/24 - Beat
SNAP
Sec Filings
- 4/18/24 - Form 4
- 4/18/24 - Form 10-Q
- 4/18/24 - Form 8-K
- SNAP's page on the SEC website