Snap's stock plunged after the company missed Q3 revenue expectations and posted soft Q4 revenue guidance. Snap management blamed that slowdown primarily on Apple's iOS update. Snap's stock was richly valued, so the pullback wasn't surprising.
Why did Snapchat stock crash?
Feb 03, 2022 · As TheFly.com reports, KeyBank cut its Snap price target to $36 per share, and despite maintaining an overweight rating on the stock, it sees "ongoing ad measurement headwinds" driving shifts out...
Why is Snapchat stock dropping?
Oct 22, 2021 · Shares in Snapchat maker Snap fell off a cliff Thursday after the company announced its Q3 results. The company’s stock plunged 25% after hours, reports Reuters. The reason? Snap executives said...
Is snap a growth stock?
May 05, 2021 · The stock's decline likely comes both because of weakness in growth stocks (like Snap) across the broader market and an analyst's move …
Is Snapchat a good investment?
Nov 02, 2021 · Snapchat parent Snap ( SNAP 3.89% ) fell 28.8% in October, according to data from S&P Global Market Intelligence. The social media giant fell after posting third-quarter revenue growth of 57% ...
What happened
Shares of photo- and video-sharing social network Snap ( NYSE:SNAP) were hit hard on Tuesday. The stock slid as much as 10.3%. As of 3:35 p.m. EDT, however, the stock was down 7.7%.
So what
Citi analyst Jason Bazinet increased his 12-month price target on Snap stock from $40 to $47 on Tuesday. However, he kept a sell rating on shares. A $47 12-month price target notably represents 14% downside from where the stock is trading at the time of this writing.
Now what
For its second quarter of 2021, management said it expected revenue to be between $820 million and $840 million, up from $454 million in the second quarter of 2020. Management also said it expects daily active users to continue growing at a similar rate in Q2 as they were in Q1.
