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Snap stock price zack ranks12/16/2023 ![]() ![]() Each of the company logos represented herein are trademarks of Microsoft Corporation Dow Jones & Company Nasdaq, Inc. This page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Today he reveals and explains his surprising move in a new Special Report. He believes in its short-term profit potential and also in its prospects to more than double by 2019. Zacks Editor-in-Chief Goes "All In" on This Stockįull disclosure, Kevin Matras now has more of his own money in one particular stock than in any other. Long-term earnings growth rate for NVIDIA and Micron is projected to be 10.3%and 10%, respectively. You can see the complete list of today’s Zacks Rank #1 stocks here. Some better-ranked stocks in the broader technology sector are NVIDIA Corporation ( NVDA Quick Quote NVDA - Free Report) and Micron Technology Inc ( MU Quick Quote MU - Free Report), both sporting a Zacks Rank #1 (Strong Buy). ![]() advertising watchdog –Advertising Standards Authority (ASA) –claiming Diageo’s failure to ensure that a campaign featuring its Captain Morgan rum brand wasn’t seen by users under the legal drinking age of 18, has been a major blow to the company. Moreover, recently the suspension of all advertisements on Snapchat by Diageo PLC after an adverse ruling from the U.K. ![]() Reportedly, at the end of November 2017, Instagram Stories and WhatsApp Status have more than 300 million DAUs each, almost double that of Snapchat’s total DAU and thus representing a larger canvas for advertisers. Recently, Facebook revealed that it’s working to bring Instagram Stories to WhatsApp Status, which will make matters worse for Snapchat in our view. To boost its top line, Facebook is trying to lure users to all its platforms. However, he believes that the redesign will have “substantial long-term benefits” and therefore the risk is worth taking.īesides, growing competition from Facebook is a major headwind for the company. CEO Evan Spiegel mentioned on the last conference call that given the uncertainty surrounding the app’s adoption, it is likely that the redesign will prove to be a headwind for the business in the short run. Moreover, the latest redesign of the app is also a concern in the short run. The company undoubtedly is quite popular among that demography but its failure to attract the older generation (above 34 year olds) has been a major headwind. Per the analyst, user engagement between the 18-24 age groups has gone up in the fourth quarter. The company’s problem has been its sole focus on the younger demographic. Analysts fear that the company’s growth opportunities could be dampened because of slowing growth in its user base as advertisers will no longer be attracted to the platform. Snap’s slowing user base and revenue growth rates are concerns. However, we note that this would mark a 1% sequential decline.Īlso, in the last reported quarter, on a sequential basis, DAU increased a meagre 2.9%, down from 4.2% increase in the second quarter and 5% in the first quarter. Snap’s growth depends on two key factors – user base growth and ad revenues.īlackledge predicts the company’s “critical metric”, daily active users (DAU) to increase 16% year over year in the fourth quarter. Notably, shares of Snap have lost 46.1% of their value since its listing date of against 23.2% growth of its industry. The analyst is also not hopeful about the company’s upcoming quarter results. ad buyers surveyed preferred Snap’s arch rival Facebook Inc.’s Instagram Stories, a blatant copy of Snapchat’s feature of the same name, for advertisements compared to just 4% who backed Snap Ads.Īnalyst John Blackledge of Cowen was quoted by CNBS saying, “On the whole, Snap was the lowest rated relative to other Social networks, given low relative marks on return on investment targeting and data, analytics and measurement."Ĭiting the results of the survey, Blackledge lowered his 2018 revenue expectations for the company by 15.4% to $1.1 billion. Per a survey conducted by the investment firm, 96% of the 50 U.S. ( SNAP Quick Quote SNAP - Free Report) dropped 4.7% to close at $14.59 on Jan 4, after the messaging application was downgraded to underperform from market perform by analysts at Cowen amid concerns over growing competition from other major social networks. ![]()
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