Markets

Snap Price Target Raised On Strong Earnings Report, Turnaround Progress

Snap Price Target Raised On Strong Earnings Report, Turnaround Progress

Barclay analysts expect the Snap's stock to continue sloping upward "as the narrative changes from 2017's '[Facebook] is going to crush SNAP" to 2018's "users and revenue accelerate and the platform is under-monetized".

Westpac Banking Corp boosted its position in Snap Inc (NYSE:SNAP) by 42.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm's revenue was up 62.2% on a year-over-year basis. equities analysts anticipate that Snap will post -3.03 EPS for the current year.

The Snapchat-owner yesterday (February 6) posted revenues of $285.7m for the three months to December 31, 2017, representing a rise of 72% year-over-year, with ad revenue accounting for $281m. But the Promoted Story format isn't the only ad unit that Snap plans to automate in hopes of replicating its Snap Ad success. Spiegel said the rollout of the new design will be complete in March. The retention rate of new Snapchat users on Android increased by almost 20 percent compared to the year prior, according to prepared remarks.

The company was formerly known as Snapchat, Inc. and changed its name to Snap Inc.in September 2016.

Buyers outside the AdAge 100, a USA index of the top national advertisers, made up more than half of Snap's revenue. Over 90% of Snap Ads were bought programmatically during Q4, which means that the auction transition for Snap Ads is largely behind us. In Q4, our effective price per impression decreased by 25%, while our total advertising revenue grew 38% sequentially.

During the holidays, Snap saw increased spending from advertisers - with average revenue per user reaching $1.53.

Spiegel said the company has hired 2,400 employees over the past two years, an average of 100 each month. "So we are less focused on price, more focused on driving value and driving growth". Analysts on average expected a loss of 16 cents per share, according to Thomson Reuters I/B/E/S. Revenue per user rose 46 percent from a year earlier to $1.53, while cost of revenue per user rose 5 percent to $1.02. In the prior quarter, it managed to do this by 49 per cent to $255 million. Full year revenue was $824.9 million, up 104 per cent year-over-year. Steward Partners Investment Advisory LLC now owns 8,005 shares of the company's stock valued at $116,000 after buying an additional 7,255 shares during the period.

The results and outlook were better-than-expected.

However, net losses increased in the previous quarter, doubling to $350 million. WFG Advisors LP increased its stake in Snap by 52.4% during the second quarter. The revenue figure blew away analysts' prediction of $253 million.

Zendesk reported a fourth quarter net loss of $26.6 million, or 26 cents a share. Finally, Zacks Investment Research lowered shares of Snap from a "hold" rating to a "sell" rating in a research report on Wednesday, October 18th. Steward Partners Investment Advisory LLC increased its stake in Snap by 967.3% during the fourth quarter.


  • Four-time Olympic luger Hamlin named United States  flag bearer

    Four-time Olympic luger Hamlin named United States flag bearer

    I am an American and when I won the 1000m in 2010 I became the first American to 2-peat in that event. "I can wait until 2022". When the final vote stayed deadlocked at 4-4, the committee used a predetermined method of choosing a victor : a coin toss.
    Military Parade? Your Authoritarianism Is Showing, Trump

    Military Parade? Your Authoritarianism Is Showing, Trump

    Kennedy included missiles and other military hardware, a practice which has fallen out of fashion. Both of Dwight Eisenhower's inaugural parades and the parade for John F.
    Global stock market selloff accelerates

    Global stock market selloff accelerates

    Friday's markets went tumbling on good economic news as the Labor Department reported a 2.9 percent increase in hourly earnings. The smaller the difference, the lesser ERP investors receive, making so-called risk-free assets such as bonds more attractive.
  • Josh Pastner: 'Zero truth' to 'disgusting, bogus' sex assault allegations

    Josh Pastner: 'Zero truth' to 'disgusting, bogus' sex assault allegations

    Since Bell's initial accusation, he and Pendley have come forward with more details on Pastner's alleged sexual assault. Pastner told her, according to the suit, that he knew powerful people who would make her life "a living hell".
    Trade barriers 'unavoidable' for United Kingdom  after Brexit: Barnier

    Trade barriers 'unavoidable' for United Kingdom after Brexit: Barnier

    She told the BBC: "We published a document previous year and we proposed either a customs arrangement or a customs partnership". The EU says its rules should still apply during the transition period, as will rulings of the European Court of Justice.
    Hyundai Santa Fe first OFFICIAL photos arrive

    Hyundai Santa Fe first OFFICIAL photos arrive

    The new Santa Fe will get its full reveal later this month, with more information about Australian cars closer to the launch. The front is a complex and curious combination of split headlights, muscular hood and the brand's new Cascading Grille.
  • Is This Why Kylie Jenner Named Her Daughter Stormi?

    Is This Why Kylie Jenner Named Her Daughter Stormi?

    Apparently a picture of him with his newborn twins actually has slightly more likes than Beyoncé's . This time, the speculation revolves around why the new mom chose the surprising moniker.
    The death of a Russian pilot in a statement

    The death of a Russian pilot in a statement

    Chemical weapons experts believe there is now evidence that Syrian troops are putting sarin into grenades to flush out rebels. Yousef al-Boustani, an opposition media activist in eastern Ghouta's Douma neighborhood, called the air raids "hysterical".
    Court suspends any criminal proceedings against Miguna Miguna

    Court suspends any criminal proceedings against Miguna Miguna

    Justice Kimaru had directed that police present him before court Wednesday at 11am. Miguna was arrested on Friday in a dawn raid on his home.
  • Iran urges Turkey to respect sovereignty of Syria

    Iran urges Turkey to respect sovereignty of Syria

    On the Afrin offensive, the top Turkish diplomat said that the operation was temporary and only aimed at terrorists in that region.
    Metastatic Breast Cancer cured in Future

    Metastatic Breast Cancer cured in Future

    Tests on mice found cutting the intake of asparagine in the diet reduced the ability of cancer to spread, or metastasize. Slashing intake of asparagine - a nutrient found in these foods - reduced the invading power of diseased cells in mice.
    Dave Toub could replace Josh McDaniels as Indianapolis Colts head coach

    Dave Toub could replace Josh McDaniels as Indianapolis Colts head coach

    McDaniels won five Super Bowl titles with the Patriots beginning his National Football League career with the team back in 2001. The Patriots offense was consistently among the NFL's best during McDaniels' last tenure as the team's offensive coordinator.