Snap (NYSE:SNAP) last released its quarterly earnings results on Thursday, August 10th. Harel Insurance Investments & Financial Services Ltd. now owns 7,540 shares of the company's stock valued at $134,000 after buying an additional 6,540 shares during the period.
Some analysts praised the company's progress in user growth and revenue, even though it failed to meet market expectations. Sumitomo Mitsui Asset Management Company LTD purchased a new position in shares of Snap during the first quarter worth $2,119,000. Finally, Dubuque Bank & Trust Co. purchased a new stake in shares of Snap during the second quarter valued at approximately $137,000. In the second quarter, Snap added a maps function for users to see where friends are, as well as a search section. Private Advisor Group LLC increased its position in Snap by 6.7% in the second quarter. Essex Investment Management Co. The stock had a trading volume of 17,453,836 shares. "(NYSE:SNAP) Stock Rating Reaffirmed by Wells Fargo & Company" was first published by BNB Daily and is owned by of BNB Daily. The firm's market cap is $16.23 billion.
The young company posted a staggering $2.2 billion loss in its first earnings report in May, and added just 8 million new daily active users during the quarter.
On the plus side, the company saw its quarterly revenue rise 153% in comparison with the year-ago period, taking in $181.7m as it upped its focus towards bringing advertisers on board.
Spiegel told financial analysts Thursday that he's "very excited" about upcoming features - which Snap is counting on to maintain user interest - and that employees are "having a great time" working on the ideas. (NYSE:SNAP) have received a consensus recommendation of "Hold" from the forty-four research firms that are now covering the stock, MarketBeat reports. If you are reading this report on another publication, it was illegally stolen and republished in violation of US & worldwide 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. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($0.29) by $0.07, Morningstar.com reports. Citigroup Inc. reissued a "neutral" rating and issued a $20.00 price objective on shares of Snap in a research note on Thursday. Goldman Sachs Group, Inc. The new target price indicates a possible upside of 0.46% based on the company's last stock close price. However, we believe the company's strong millennial following and innovative product offering have the potential to drive high levels of user engagement, resulting in much higher levels of advertising spending.
At least seven brokerages cut their price targets on Snap.