Snap shares plunge after earnings disappoint

Snapped

Earlier this year, Snap began selling Spectacles to all us consumers via its website, and in June, it began selling the wearable in Europe via its website and vending machines as well.

Recent options transactions imply traders expect a 15 per cent one-day swing for the stock in either direction following the quarterly results. Snap earned a news sentiment score of 0.12 on Accern's scale. Seven Bridges Advisors LLC acquired a new stake in shares of Snap during the second quarter worth about $101,000. Prior to today's earnings report, shares of Snap were trading in the $13.77 range.

Snap is trading 0.88% lower on Thursday, as investors look ahead to earnings. The company reported ($2.31) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($2.05) by $0.26.

Snap reported a net loss of 16 cents per quarter on revenue of $181.7 million. The firm's revenue for the quarter was up 285.6% compared to the same quarter previous year.

SNAP has been the subject of a number of analyst reports. Private Advisor Group LLC raised its stake in shares of Snap by 6.7% in the second quarter. Susquehanna Bancshares Inc reaffirmed a neutral rating and issued a $15.00 target price (down from $22.00) on shares of Snap in a report on Friday, May 12th. Finally, Drexel Hamilton reiterated a "buy" rating and set a $30.00 target price on shares of Snap in a research note on Wednesday.

Disney to remove its films and shows from Netflix
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Snap Inc.'s growth again fell short of estimates, feeding fears that aggressive competition from Facebook Inc.is blunting the younger social-media company's potential just months after its initial public offering. Nine research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. (The) reaffirmed a "buy" rating and set a $28.00 price objective on shares of Snap in a research report on Thursday, May 11th.

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Consider the companies that have even more analysts than SNAP but with even less market value. But investor doubts began to set in as Snap's user growth continued to slow, especially as rivals like Instagram began copying innovative features that once set Snapchat apart, including augmented reality images and disappearing content.

Snap Inc.'s flagship product, Snapchat, has suffered from unfavorable comparisons to Facebook's Instagram Stories, which is a clone meant to compete for the company's users.

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