Streetbeat News

SNAP

Snap Inc.

https://www.snap.com

Industry

Internet Content & Information

Snap Inc. operates as a camera company in North America, Europe, and internationally. The company offers Snapchat, a camera application with various functionalities, such as Camera, Communication, Snap Map, Stories, and Spotlight that enable people to communicate visually through short videos and images. It also provides Spectacles, an eyewear product that connects with Snapchat and captures photos and video from a human perspective; and advertising products, including AR ads and Snap ads comprises a single image or video ads, story ads, collection ads, dynamic ads, and commercials. The company was formerly known as Snapchat, Inc. and changed its name to Snap Inc. in September 2016. Snap Inc. was founded in 2010 and is headquartered in Santa Monica, California.

Open

10.71

Mkt cap

18B

Volume

16M

High

10.71

P/E Ratio

-18.28

52-wk high

17.90

Low

10.49

Div yield

N/A

52-wk low

8.29

Insiders at Trade Desk Inc (TTD), Snap Inc (SNAP), Accenture Plc (ACN), and Cloudflare Inc (NET) have recently sold shares. TTD's CEO sold shares worth $11.2 million, SNAP's General Counsel sold shares worth $129,117, ACN's General Counsel sold shares worth $324,900, and NET's Director sold shares worth $450,091. These sales could indicate concerns about the companies' prospects or that the insiders view the stocks as overpriced.

Portfolio Pulse from Lisa Levin

November 03, 2023 | 12:10 pm

Shares of Pinterest Inc (NYSE:PINS) surged after the company reported strong Q3 earnings. Several analysts revised their forecasts, with BofA Securities upgrading the rating from Neutral to Buy and raising the price target from $32 to $37. KeyBanc Capital Markets, Roth Capital Partners, RBC Capital Markets, Wedbush, Piper Sandler, and Goldman Sachs also raised their price targets. The analysts highlighted Pinterest's improved position, better expense discipline, growth reacceleration, and successful new ad products.

Portfolio Pulse from Priya Nigam

October 31, 2023 | 4:31 pm

Tesla Inc's stock has dropped more than 25% from its highs in early October, causing CEO Elon Musk to lose over $26 billion in unrealized losses. This loss is more than the valuation of Delta Airlines Inc, Zoom Video Communications Inc, Snap Inc, and eBay Inc. The stock's decline is attributed to several factors, including Panasonic's cut in battery production, higher interest rates affecting electric car demand, and overall tech industry trends.

Portfolio Pulse from Aaron Bry

October 31, 2023 | 3:03 pm

Shares of broader communication services stocks are trading higher amid a rebound in the overall market following last week's decline.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 7:58 pm

Meta Platforms and Snap Inc reported strong quarterly results, with Meta's revenue growing at the fastest rate since 2021 and Snap returning to revenue growth. However, both companies warned about the impact of the Middle East conflict on their ad revenues. Meta's Q4 revenue guidance was widened due to ad softening, while Snap did not provide formal guidance due to some advertisers pausing their campaigns.

Portfolio Pulse from Upwallstreet

October 27, 2023 | 1:27 pm

Piper Sandler analyst Thomas Champion maintains a Neutral rating on Snap (NYSE:SNAP) and raises the price target from $8 to $9.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 7:10 pm

JP Morgan analyst Doug Anmuth maintains an Underweight rating on Snap (NYSE:SNAP) and raises the price target from $8 to $9.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 6:37 pm

RBC Capital analyst Brad Erickson has maintained a 'Sector Perform' rating on Snap (NYSE:SNAP) and raised the price target from $9 to $10.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 4:49 pm

Snap Inc's Q3 revenue beat expectations and the company announced a stock buyback. However, shares were trading lower due to growth concerns. Analysts from RBC Capital Markets, BofA Securities, Truist Securities, and Benchmark maintained neutral ratings, citing concerns about the company's growth rate and profitability. They also noted that Snap is more vulnerable than larger ad platforms like Alphabet, Meta Platforms, and Amazon.

Portfolio Pulse from Priya Nigam

October 25, 2023 | 4:30 pm

Snap Inc (NYSE:SNAP) reported better-than-expected Q3 results and announced a $500 million buyback, leading to a rise in its stock price. Q3 revenue increased 5% YoY to $1.19 billion, beating estimates. Daily active users grew 12% YoY to 406 million. The company refrained from providing formal guidance due to war-related headwinds but expects Q4 revenue of $1.32 billion to $1.375 billion. Snap's COO Jerry Hunter will retire and the board authorized a share repurchase program of up to $500 million.

Portfolio Pulse from Adam Eckert

October 25, 2023 | 1:30 pm

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