Snap Shares Plummet After Tech Company Misses Expectations

Snapped

Snapped

"Until they do, investors will likely continued to be disappointed". Analysts had been expecting DAUs to grow by 10 million.

Snapchat also wanted analysts to pay attention to the growth in North America, where the users are more valuable.

The weekly rig count is an important barometer for the drilling industry and serves as a proxy for oil production and oil services demand. Seven Bridges Advisors LLC bought a new stake in shares of Snap during the second quarter valued at about $101,000. That despite the current pact to curb production by 1.8m barrels per day. After all, another disappointing quarter might prod the market into throwing in the towel altogether on Snap, sending it sharply lower on a more permanent basis.

Shares of Snapchat parent Snap sank to new lows on Thursday after the company reported a hefty quarterly loss and user growth which missed Wall Street expectations.

Snap 2Q 2017 earnings were released after closing bell tonight, and the company reported losses of 36 cents per share on $181.7 million in revenue.

Shares of Snap (NYSE SNAP) traded down 1.33% during midday trading on Thursday, hitting $13.38. Finally, Oppenheimer Holdings, Inc. reissued an "outperform" rating and issued a $23.00 target price on shares of Snap in a report on Tuesday, July 11th.

For a few months, Snap's stock stayed above its I.P.O. price. Accern also gave news coverage about the company an impact score of 45.0838422636603 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the stock's share price in the near term.

CEO Evan Spiegel didn't address nagging questions about the threat from Facebook's Instagram app, which has been steadily knocking off Snapchat's key features, including its colorful camera filters and its "stories" function that builds photo and video montages.

Like other social media companies that have gone public, some of the main focuses among analysts have been on SNAP's user growth, average revenue per user (ARPU) and the company's path to profitability.

With the lackluster results and stock price declining, Spiegel did promise not to sell any of his own shares in the company, a move usually reserved to instill confidence.

Snap is not the only young company that has stumbled after going public while facing off with one of the tech giants. Shares of the meal kit company were down 16 percent Thursay.

Snap delivered its second-quarter financial results Thursday following the close of the New York Stock Exchange. The company lost 14 cents per share of SNAP stock in the same quarter a year earlier, on revenue of $71.8 million.

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