Snap stock falls after Cowen cuts estimates on daily active user, ad revenue concerns [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 falls after Cowen cuts estimates on daily active user, ad revenue concerns Shares of Snap Inc. SNAP, -5.84% are down 2% in premarket trading Tuesday after Cowen analyst John Blackledge lowered his revenue estimates for the current quarter and the years ahead, based on his expectation for a slightly lower daily-active-user count and average ad revenue per user. He raised his target to $10 from $9, which is still far below the company's recent price of $14, and kept his underperform rating intact. "We view our new 2Q18 advertising revenue trajectory as a substantial deceleration from 1Q18 levels vs. our prior forecast and more in line with management comments during 1Q18 earnings," Blackledge wrote. His firm's survey of Snapchat users suggests that daily time spent on the app this year is down from year-earlier levels. Snap shares are down 21% over the past 12 months, while the S&P 500 SPX, -0.74% has gained 13%.
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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