Snap went for $17 in its IPO but hasn't consistently traded higher than that. Today it gained 18.5% to close at $17.58 -- giving the company a market cap of more than $23.8 billion.
Snap Inc. shares closed atop the price charged in its initial public offering for the first time in more than a year Wednesday, after analysts said a strong earnings report could set the stage for another monster quarter.
The social-media company announced Tuesday afternoon that it added 13 million daily active users sequentially in the second quarter, 2 million more than analysts expected, and Snap’s management said to expect net additions of 2 million to 4 million users for the current period. Such a forecast seems “too low,” wrote MoffettNathanson’s Michael Nathanson, given his analysis of the Snapchat Ads Manager, which he says shows 8 million new DAUs already through July.
Snap’s lofty valuation is a key concern, as Nathanson says that Snap’s likely multiple of 11 times forward revenue represents “one of the richest valuations we have ever seen.” Nathanson also worries that Snap’s buzz-worthy new augmented reality lenses, which helped draw in users recently, could be just a fad. He sees an “underappreciated” threat from TikTok, a popular short-form video app that’s caught on with younger users.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Snap Inc. Soundly Beats Q2 Estimates And Adds 13M Daily Active UsersSnapchat parent Snap Inc. soundly beat Wall Street’s second-quarter forecasts, reporting a loss of 6 cents a share and revenue of $388 million. Wall Street analysts had expected a loss of 10 …
Baca lebih lajut »
Traders bet Snap could soar 12% after earningsSnap's stock gets bullish bets from options traders as the social media giant prepares to report earnings after Tuesday's closing bell.
Baca lebih lajut »
Snapchat user growth accelerates after Android fixSnapchat’s growth accelerated after the social media company rolled out an improved version of its Android cellphone app, a sign of recovery after a rocky period.
Baca lebih lajut »
Snap Stock Skyrockets As Company Adds 13 Daily Active Million Users in Q2Share prices for Snapchat’s corporate parent Snap Inc. shot up 8.5% in after-hours trading Tuesday on news that Snapchat added 13 million daily active users in Q2 of 2019. The service ended t…
Baca lebih lajut »
Snap Shares Jump As Returning Users Boost RevenueSnap Inc., shares surged after the parent of messaging app Snapchat reported rebounding user growth and revenue, fueled by new features including interactive games and viral camera lenses.
Baca lebih lajut »
Snap to report second-quarter results after the bellSnap investors will be looking for signs that the company can maintain momentum from a strong first half to 2019.
Baca lebih lajut »