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Technology Stocks : Snap, Inc.

SNAP 7.740

-0.1%

3:59 PM EDT

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From: zax	10/26/2018 12:33:45 PM
	of 62

Snap Fails to Inspire Street, Sending Shares to Record Low finance.yahoo.com (Bloomberg) -- Snap Inc. fell as much as 17 percent Friday to a record low after its third-quarter results failed to inspire Wall Street. The decline in daily active users was viewed as disappointing and led JPMorgan to cut its rating on the stock to underweight. More bullish analysts found positive signs in revenue growth and improved monetization trends. Investors may be growing impatient as the shares have fallen more than 65 percent since their initial public offering in March 2017. Here is what analysts are saying about the results: JPMorgan (Doug Anmuth) Revenue upside driven by strong average revenue per user, which accelerated in the U.S. 20% y/y in the 3Q. "Snap doesn’t want to risk another bad rollout experience, and therefore is prepared to absorb some N-T DAU declines" Anmuth says of Snap’s new Android application. "Instagram is much more penetrated" in the 13-34 age bracket in developing markets, and "it will be challenging for Snap to pull users away from Instagram". Larger Facebook and Instagram user and advertiser base makes it difficult for Snap to gain "meaningful" market share. Downgrades to underweight from neutral, with a $6 price target down from previous $12 Nomura (Mark Kelley) Bear case points to a continuation of the Android rebuild overhang, North America DAU declines and weaker engagement trends. The bull case notes the ARPU reacceleration, new ad formats on the horizon and cost control in the quarter. </snip> Read the rest here: finance.yahoo.com

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