Snapchat Soars as Parent Beats Financial Expectations

Snapchat Soars as Parent Beats Financial Expectations

"We see the advertiser expansion as an important source of revenue diversification and reflects Snap's capacity to grow revenue through a broadening of its addressable market", Wieser said.

Snapachat managed to overtake most of the forecasts from different analysts; the company managed to buoy their revenue to tremendous levels despite all most all reports showing the absolute opposite. "Additionally, the fourth quarter saw significantly more new Android users as a percentage of net additional users than any other quarter in our history", Spiegel said in the prepared remarks.

While Snapchat has always been considered popular among younger users, the service must prove it can also appeal to users in older demographics in order to drive further growth and appease advertisers looking to reach users with more spending power. Following the transaction, the vice president now owns 2,532,598 shares in the company, valued at $31,758,778.92. That's the largest leap since the third quarter of 2016. BidaskClub cut Snap from a "hold" rating to a "sell" rating in a research report on Thursday, October 26th. Graham maintained his Hold rating and raised his price target for Snap stock from $12 to $16 per share.

Snapchat has finally made investor concerns disappear. Prudential Financial Inc. lifted its holdings in shares of Snap by 41.2% during the 2nd quarter. (NYSE:SNAP) indicates that stock is -52.24% away from its one year high and is moving 24.65% ahead of its 52-week low. The stock has a market capitalization of $23,580.00 and a PE ratio of -6.14. Zendesk revenue was $123.4 million in the fourth quarter, up 39 percent from a year ago. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.17. Last year, Snap started selling Sponsored Filters through its ad API and self-serve tool, and during the first half of this year, it will automate the sale of more of its Creative Tools formats, according to Vollero. While that's a significant jump from last year's $404 million, it's still a far cry from the $1 billion in annual revenue that some analysts were predicting when the company was hyping its IPO last March.


Snap also increased its daily active users by 8.9 million, a 5 percent increase, bringing its total to 187 million, the company said in an earnings release.

SNAP has been the subject of a number of recent analyst reports. That sent the stock popped on the news - rising almost 20% to $16.82 a share. Multiple analysts raised their price targets for Snap stock on Wednesday, but most are not yet ready to upgrade it beyond Neutral (or the equivalent).

In other Snap news, Director Mitchell Lasky sold 25,000 shares of the business's stock in a transaction dated Tuesday, February 6th. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Steven Michael Horowitz sold 286,332 shares of Snap stock in a transaction dated Thursday, November 16th.

Related Articles

  • Death toll rises to nine in natural disaster  that toppled buildings in Taiwan

    Death toll rises to nine in natural disaster that toppled buildings in Taiwan

    A 60-year-old woman said the quake destroyed a cupboard, chest of drawers, and TV set in her home. The national fire agency said three of those killed were Chinese nationals from the mainland.
    Bangladesh ex-PM sentenced to 5 years in jail

    Bangladesh ex-PM sentenced to 5 years in jail

    Police have banned street protests and rounded up thousands of opposition supporters in a crackdown ahead of Thursday's ruling. Khaleda's elder sister, her sisters-in-law, her younger brother, nephews and her lawyers accompanied Zia to the court.
    5-star OLB Quay Walker commits for 2018

    5-star OLB Quay Walker commits for 2018

    That is a big need for Georgia in this class and that is why the Bulldogs went after Walker so hard until the final minute. He then revealed that he was wearing Georgia trousers and a Georgia shirt, confirming that he was joining the Bulldogs.
  • Talks between Ramaphosa, Zuma enter third day

    Talks between Ramaphosa, Zuma enter third day

    His presidency has been dominated by an economic slowdown, record unemployment and allegations of corruption. The South African rand has been among the best performing currencies globally since December previous year .
    Obama Wanted 'to Know Everything' About Clinton Email Probe

    Obama Wanted 'to Know Everything' About Clinton Email Probe

    Page wrote to Strzok on September 2, 2016, that Comey was being prepped because " potus wants to know everything we're doing ". So if you've been plugged into the news today, you may have seen the news of more Peter Strzok-Lisa Page texts being released.
    Arsene Wenger says English players are the new 'masters of diving'

    Arsene Wenger says English players are the new 'masters of diving'

    We want to get diving out of the game. "In my personal case I don't encourage them to dive at all". "Every striker will do that". Arsenal are also expecting Nacho Monreal to return to the defence against Tottenham on Saturday following illness.
  • Senate Leaders Reach Budget Deal After Months of Government Shutdown Threats

    Senate Leaders Reach Budget Deal After Months of Government Shutdown Threats

    Some House Republicans , meanwhile, have already objected to the bill on the grounds that it spends way too much money. Nancy Pelosi (R-CA) said that she is withholding support until Paul Ryan (R-WI) makes a similar commitment.
    NATIONAL SIGNING DAY: Local student-athletes sign letters of intent

    NATIONAL SIGNING DAY: Local student-athletes sign letters of intent

    The 2018 class marks the first time in program history that the Bulldogs finished with the No. 1 overall class in the country. Here's a pretty grim omen at the dawn of national signing day: USF's official football Twitter account now is suspended.
    United States  crude inventories seen rising for second week

    United States crude inventories seen rising for second week

    Crude oil futures fell Rs 19 to Rs 4,081 per barrel today as speculators reduced their positions amid a weakening trend overseas. In November, oil production surpassed 10 million bpd for the first time since 1970, and neared the all-time output record.
  • Salma Hayek felt ashamed

    Salma Hayek felt ashamed

    Weinstein propositioned Hayek multiple times throughout her time on the film, asking for massages, oral sex and naked showers. When her piece was published, Hayek's close friend Penelope Cruz was "furious at me because I never told her anything".
    Gilead Sciences, Inc. (GILD) Shares Slide on Weak Outlook

    Gilead Sciences, Inc. (GILD) Shares Slide on Weak Outlook

    The Symphony Asset Management Llc holds 20,701 shares with $1.68 million value, up from 16,423 last quarter. Among 22 analysts covering Universal Health Services Inc. (NASDAQ:EHTH) to report earnings on February, 26.
    Meghan Markle's Half-Brother Says She Pretended Not To Know Him

    Meghan Markle's Half-Brother Says She Pretended Not To Know Him

    Before joining the royal family, Meghan Markle had to leave her " Suits " one behind - but not without some touching moments. Want more celebrity, entertainment and lifestyle news?