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 the company was facing two threats: supply-chain issues and privacy changes Apple implemented on its iOS platform earlier this year.
What is Snap's (Snap) stock price?
What is Snap's stock price today? One share of SNAP stock can currently be purchased for approximately $39.39.
Why did Snapchat’s stock drop 25% Thursday?
Evan Spiegel, CEO of Snapchat’s parent company, admitted that Apple’s privacy changes had a bigger impact on the company than expected. 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.
Is Snapchat stock a good buy?
Snapchat stock is down 85% from all-time highs. The stock now trades lower than its 2017 IPO price. Insiders own more than 20% of the company. I can see the stock returning multiples of the current stock price over the coming years.
Does snap stock hold sell signals from moving averages?
The Snap Inc. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $39.27 and $37.14.
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Why are Snapchat stocks so low?
“Since we issued guidance on April 21, 2022, the macroeconomic environment has deteriorated further and faster than anticipated,” the parent company of Snapchat said in an SEC filing. Snap's shares are down about 84% from a 52-week high in September 2021 and are off more than 72% year to date.
Is Snap stock a good buy?
The short answer is no. Even after the crash, Snap's stock is not cheap. At a price-to-sales ratio of five, Snap is the most expensive among its peers Pinterest and Meta Platforms.
Will snap ever recover?
Snapchat (SNAP) stock has started to make a recovery after declining 50%-plus since September 2021. Snapchat is still highly overvalued, and the recovery could be a dead cat bounce influenced by the broader market. Investors should avoid investing a significant amount in Snapchat until the first-quarter report.
Will Snapchat stock go up tomorrow?
Tomorrow's movement Prediction of Snap Inc. SNAP as on 24 Jun 2022 appears strongly Bullish. This stock started moving upwards as soon as it opened....Munafa value: 75 as on 24 Fri Jun 2022.Upside target15.21Downside target14.21Downside target13.73Downside target13.66Downside target13.315 more rows
How much is Snap stock worth in 2021?
The Snap Inc. stock price gained 6.21% on the last trading day (Friday, 9th Jul 2021), rising from $61.96 to $65.81. During the day the stock fluctuated 5.54% from a day low at $62.43 to a day high of $65.89. The price has risen in 6 of the last 10 days, but is still down by -2.72% for this period. Volume fell on the last day by -662 thousand shares and in total, 17 million shares were bought and sold for approximately $1.11 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Is Snap stock a sell signal?
The Snap Inc. stock holds a sell signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average . Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $66.61. On a fall, the stock will find some support from the long-term average at approximately $63.27. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Furthermore, there is a buy signal from the 3 months Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, July 06, 2021, and so far it has fallen -4.71%. Further fall is indicated until a new bottom pivot has been found.
What happened
Shares of Snap ( SNAP -3.65% ) have plunged today, down by 11% as of 11:45 a.m. EST, after the company reported fourth-quarter earnings results. The Snapchat parent enjoyed continued momentum in user growth but missed estimates for the top line.
So what
Revenue in the fourth quarter jumped 44% to $561 million, which was shy of the $563 million in sales that analysts were modeling for. That all translated into adjusted earnings of $0.03 per share, slightly ahead of the $0.01 per share in adjusted profits that the Street was expecting.
Now what
On the conference call with analysts, Spiegel attributed the strong user growth to improvements in the Android version of Snapchat. The tech company's ad business continues to evolve, with revenue from Story ads doubling and revenue from commercials tripling compared to a year ago.
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About Snap
Snap, Inc. engages in the operation of its camera platform.
Headlines
SOLA IMPACT'S I CAN FOUNDATION PARTNERS WITH SNAP INC. TO HELP SOUTH LA STUDENTS AFFORD COLLEGE - Yahoo Finance
Snap (NYSE:SNAP) Frequently Asked Questions
31 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Snap in the last year. There are currently 7 hold ratings and 24 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" Snap stock. View analyst ratings for Snap or view top-rated stocks.
