SNAP - Snap Inc.

NYSE - NYSE Delayed Price. Currency in USD
19.05
-0.20 (-1.04%)
At close: 4:03PM EST

19.04 -0.01 (-0.05%)
After hours: 5:26PM EST

Stock chart is not supported by your current browser
Previous Close19.25
Open19.71
Bid19.02 x 4000
Ask19.07 x 1800
Day's Range18.84 - 19.75
52 Week Range6.20 - 19.75
Volume32,717,002
Avg. Volume21,857,424
Market Cap26.669B
Beta (5Y Monthly)1.10
PE Ratio (TTM)N/A
EPS (TTM)-0.72
Earnings DateFeb. 03, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est19.06
  • Snap (SNAP) Outpaces Stock Market Gains: What You Should Know
    Zacks

    Snap (SNAP) Outpaces Stock Market Gains: What You Should Know

    In the latest trading session, Snap (SNAP) closed at $19.25, marking a +0.79% move from the previous day.

  • ByteDance Is Seeking a New CEO for Its TikTok Business
    Bloomberg

    ByteDance Is Seeking a New CEO for Its TikTok Business

    (Bloomberg) -- Chinese internet giant ByteDance Inc. is seeking a new chief executive officer for its TikTok business, a hugely popular video app that American politicians have targeted as a potential security threat.The company has interviewed candidates in recent months for the CEO role, which would be based in the U.S., according to people familiar with the matter, who asked not to be named because the search is private. In one potential scenario, the new CEO would oversee TikTok’s non-technical functions, including advertising and operations, while current TikTok chief Alex Zhu would continue to manage the majority of product and engineering out of China, one person said. The hiring process is ongoing and the envisioned role could still change depending on who is selected, the people added.Zhu, who co-founded a predecessor to TikTok called Musical.ly, took over the business last year, though ByteDance also has a Chinese version of TikTok called Douyin, which is run by a different management team. The eventual corporate structure involving Zhu and the new CEO is still unclear, the people said, and Bytedance has hired executive search firm Heidrick & Struggles to help lead the process.A spokesman for TikTok declined to comment. Heidrick & Struggles didn’t respond to a request for comment.The new hire won’t affect the role of Vanessa Pappas, who currently oversees TikTok’s U.S. operations from Los Angeles, one person said. In a blog post Wednesday, Pappas wrote that TikTok has opened a new Culver City office with plans to “scale our local operations,” and now has more than 400 U.S. employees.“While we are a global company, having a permanent office in LA speaks to our commitment to the U.S. market and deepens our bonds with the city, and the talent and companies, that call it home,” she wrote.Beijing-based ByteDance, led by CEO Yiming Zhang, has built TikTok and Douyin into some of the world’s most popular apps with more than a billion users between them who share short video clips of things like lip-syncing and dance videos. That has made ByteDance the most valuable tech startup in the world, challenging the dominance of U.S. companies like Facebook Inc. and Snap Inc.The app is growing fast and drawing a lot of attention from advertisers and competitors. Snap CEO Evan Spiegel said over the weekend he thought TikTok alone could grow to be larger than Instagram, which has more than 1 billion active users and has been the go-to social media destination for young people in the U.S.With rising tensions between China and the U.S., however, American politicians have warned the app represents a national-security threat. The Committee on Foreign Investment in the U.S., better known as CFIUS, has begun a review of ByteDance’s 2017 purchase of the business that became TikTok, Bloomberg News reported in November.ByteDance is weighing a range of options to address those concerns, from an aggressive legal defense to the sale of a stake in TikTok, Bloomberg News reported in December. A representative for the company said at the time there have been no discussions about any partial or full sale of TikTok.“I remain deeply concerned that any platform or application that has Chinese ownership or direct links to China, such as TikTok, can be used as a tool by the Chinese Communist Party to extend its authoritarian censorship of information outside China’s borders and amass data on millions of unsuspecting users,” U.S. Senator Marco Rubio, a Republican from Florida, wrote in a letter to the Treasury Department, which chairs CFIUS.The hiring of a new U.S. CEO may be aimed at resolving those security concerns, the people said. It’s possible ByteDance is searching for a candidate who could help address questions in Washington or for someone with the skills to lead an independent business if it faces pressure to separate TikTok from the Chinese parent. It’s unclear how much autonomy this new CEO would have. A number of successful tech companies are led by CEOs who also have influence over product direction, including Facebook, Snap and Twitter.ByteDance would prefer to maintain full control of the business if possible, given its soaring popularity and profit potential, Bloomberg News reported earlier. It may argue that TikTok presents no security threat or that the U.S. has no legal standing over the business.TikTok has said it strives to create a safe and positive online environment. “We are not influenced by any foreign government, including the Chinese government; TikTok does not operate in China, nor do we have any intention of doing so in the future,” the company said in October.(Updates with detail on search company in the third paragraph.)\--With assistance from Zheping Huang.To contact the reporters on this story: Kurt Wagner in San Francisco at kwagner71@bloomberg.net;Sarah Frier in San Francisco at sfrier1@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Jillian Ward, Andrew PollackFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Zacks.com featured highlights include: China Distance Education, Intellicheck, Snap and Mesoblast
    Zacks

    Zacks.com featured highlights include: China Distance Education, Intellicheck, Snap and Mesoblast

    Zacks.com featured highlights include: China Distance Education, Intellicheck, Snap and Mesoblast

  • 4 Affordable Breakout Stocks for Stunning Returns
    Zacks

    4 Affordable Breakout Stocks for Stunning Returns

    Selecting breakout stocks continues to be one of the most popular methods among active investors.

  • Snap (SNAP) Gains But Lags Market: What You Should Know
    Zacks

    Snap (SNAP) Gains But Lags Market: What You Should Know

    Snap (SNAP) closed at $18.25 in the latest trading session, marking a +0.33% move from the prior day.

  • The Zacks Analyst Blog Highlights: Himax Technologies, Alphabet, Microsoft, Snap and Apple
    Zacks

    The Zacks Analyst Blog Highlights: Himax Technologies, Alphabet, Microsoft, Snap and Apple

    The Zacks Analyst Blog Highlights: Himax Technologies, Alphabet, Microsoft, Snap and Apple

  • Pinterest Overtakes Snapchat in Popularity Among US Users
    Zacks

    Pinterest Overtakes Snapchat in Popularity Among US Users

    Pinterest (PINS) becomes the third largest social media network, surpassing Snapchat, per a recently released eMarketer Report. The report predicts Pinterest's user growth to continue in 2020.

  • Tech Daily: Google Loses Cookies & More
    Zacks

    Tech Daily: Google Loses Cookies & More

    Google getting rid of cookies and acquiring Pointy, Amazon's Bezos visiting India and lending money to UK's Deliveroo, Intel's new CIO and other stories are covered in this daily take.

  • Top Augmented Reality Stocks to Buy in 2020
    Zacks

    Top Augmented Reality Stocks to Buy in 2020

    The global market for AR is expected to see a compounded annual growth rate of 152% between 2019 and 2024. So, if you are interested in tapping this opportunity, here're your best AR stocks.

  • Pinterest Soars After Report Shows U.S. Users Eclipsing Snapchat
    Bloomberg

    Pinterest Soars After Report Shows U.S. Users Eclipsing Snapchat

    (Bloomberg) -- Pinterest Inc. shares rose as much as 13% on Tuesday after a report showed it beat out Snap Inc.’s Snapchat to become the third-biggest social media platform in the U.S.Pinterest had an estimated 82.4 million U.S. users in 2019, a 7.4% gain from the previous year, while Snapchat had 80.2 million users, data tracker eMarketer estimated. Pinterest’s U.S. users are projected to rise 4.4% to 86 million in 2020, the firm said. Facebook and Instagram, both owned by Facebook Inc., hold the top two positions.“While Snapchat has a young core audience that it caters to, Pinterest has a more universal appeal, and it’s made significant gains in a wide range of age groups,” analyst Nazmul Islam said in the report.Pinterest makes the bulk of its revenue from U.S. users and is in the early stages of efforts to boost international ad sales. The stock still hasn’t recovered from losses after a third-quarter revenue miss led to a 17% plunge in November.While some analysts say the company’s third-quarter earnings results hint at saturation in its U.S. market, bulls say the stock remains attractive as it continues to develop its advertisement offerings.Wall Street’s expectations for Pinterest’s fourth-quarter financial results “are reasonable” and user survey results revealed positive trends, RBC Capital Markets analyst Mark Mahaney said in a research note late Monday. The results are due in mid-February.To contact the reporter on this story: Andres Guerra Luz in New York at aluz8@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Jeran WittensteinFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • Has Snap (SNAP) Outpaced Other Computer and Technology Stocks This Year?
    Zacks

    Has Snap (SNAP) Outpaced Other Computer and Technology Stocks This Year?

    Is (SNAP) Outperforming Other Computer and Technology Stocks This Year?

  • Snap (SNAP) Gains As Market Dips: What You Should Know
    Zacks

    Snap (SNAP) Gains As Market Dips: What You Should Know

    In the latest trading session, Snap (SNAP) closed at $17.41, marking a +0.29% move from the previous day.

  • Bloomberg

    ‘Late Capitalism’? Not Even Close

    (Bloomberg Opinion) -- Even the most ardent defenders of capitalism must acknowledge the indignities it occasionally imposes. The toilet seat designed to be uncomfortable with the goal of getting employees back to work quickly seems to capture some of the essence of the criticism that capitalism has jumped the shark. The image of a tiny, environmentally friendly paper straw inside a large plastic cup is similarly absurd, as are the straps you can fashion around your thighs with clips that attach to your shirt to help keep it tucked in.I found these examples by searching Twitter for “late capitalism,” an ominous phrase associated with Marxist theorists (though not Karl Marx himself) that has been borrowed widely to express exasperation with the economic system that governs the developed world today.Beyond the absurdities and affronts, critics of contemporary U.S. capitalism are concerned about corporate power, inequality and economic injustice. “The innovators (lords) capture the majority of the gains,” as a New York University professor recently put it, “and the 99% (serfs) get an awesome phone” and “Mandalorian action figures delivered within 24 hours.”Use of the term “late capitalism” has exploded during the past decade, no doubt driven by the economic and psychological damage the Great Recession of 2007-2009 inflicted on millions of people. Capitalism may have once delivered broad prosperity, the critics argue, but now the system serves to entrench the elite. And there are reasons to be concerned. Productivity growth has lagged for over a decade, threatening prosperity. Declines in geographic mobility and entrepreneurship raise legitimate worries about the energy necessary to sustain a market economy.But despite real economic challenges and the trauma of the recession, it’s important to ask whether the current “stage” of capitalism, as the pessimists like to frame it, is as dire as they would have you believe.No.Now is an odd time to argue that capitalism is broken. Only 35 U.S. workers out of every 1,000 are looking for jobs but unable to find them — the unemployment rate is lower than it has been in a half-century. The rate at which people in their prime working years hold jobs is higher than it has been in over a decade. I noted in November that it had finally fully recovered from the Great Recession, despite much concern that it never would. In 2009, there were over six unemployed workers for every job opening. Today, there are more job openings than there are unemployed workers.Are the theorists of late-stage capitalism right to be extremely concerned about income inequality? The level of inequality is high, but this is an odd decade to bemoan its rise. According to the nonpartisan Congressional Budget Office, between 1979 and 2006 the rich-poor gap in income after taxes and government transfer payments increased by 27 percent. But from the beginning of the Great Recession, when criticism of capitalism became much more common, to 2016 (the last year data are available), inequality actually decreased by 7 percent. Or consider the ratio of weekly earnings between high- and low-wage workers. Between 2007 and 2019, this measure of the wage gap grew by only 1 percent.Innovators are presented as the villains of late-stage capitalism. It is true, of course, that the market can reward innovators with fabulous wealth. Jeff Bezos, the founder of Amazon.com Inc., is worth $118 billion, according to the Bloomberg Billionaires Index.But critics of modern capitalism seem to be confused about the market’s ability to distribute benefits. Bezos’s net worth doesn’t come close to fully capturing the improvements in household welfare he has created. In a 2004 paper, the economist and Nobel laureate William Nordhaus concluded that “most of the benefits of technological change are passed on to consumers,” not the innovators themselves. Using data from 1948–2001, his model suggests that innovators capture only 2.2 percent of the total social value they create. Applying a back-of-the-envelope calculation using Nordhaus’s result to Bezos suggests he has created $5.4 trillion in value for the rest of society.A team of economists, including Massachusetts Institute of Technology scholar Erik Brynjolfsson, recently attempted to measure the benefit of several new digital services that are free to consumers. To place a dollar value on the benefit these services provide, they studied how much money consumers would be willing to accept to give them up. The typical U.S.-based Facebook user in their study values the social networking site at $42.17 per month.For other free digital services, the economists studied people in the Netherlands. There, consumers value Facebook at 96.80 euros a month (roughly $108). WhatsApp is worth 535.73 monthly euros ($595) to the Dutch participants in the study, and Google, Bing and Apple maps are valued at around 60 euros per month ($67). Consumers don’t value everything this highly. Participants in their study would give up Skype for less than 1 euro, Snapchat for around 2 euros, and Instagram for about 7 euros.Because they are free, these services are not well captured in current national income statistics. Brynjolfsson and his coauthors calculate that the benefits from Facebook alone would have added between 0.05 and 0.11 percentage points to the annual growth in U.S. gross domestic product growth starting in 2004. In other words, these free services represent trillions of dollars of consumer benefit.This may seem abstract, but daily life in modern societies abounds with confirmation that critics of capitalism seem to ignore. On Christmas Day, my family in Washington was able to FaceTime with relatives in Singapore, Kansas City and Brighton, England. My children know their aunts, uncles and cousins much better than they would without this technology. That is worth a lot.While driving around town this week, I received a text message with the picture of a friend’s daughter, born just the day before. It was lovely to be connected with him in real time during this important moment. People value connectivity, and the modern economy provides it to the broad middle class — not just the rich — in ways that would seem like magic just a few decades ago.And by dismissing innovation so flippantly, proponents of the late-capitalism critique are myopic. Technology builds on itself.Taking a longer view, the discussion of late-stage capitalism also seems to miss basic income statistics. According to CBO data, median household income grew by 21 percent from 1990 through 2016. After accounting for taxes and government transfer payments, median income increased by 44 percent. Incomes grew faster for households below the median. Capitalism has delivered significant increases in purchasing power for typical households.The phrase “late capitalism” suggests that capitalism is spent and exhausted. It isn’t. True, the Great Recession was traumatic, and its effects are still with us. Public policy should work hard to alleviate those effects and provide economic opportunity to all. But enemies of modern capitalism seem to be late to the fact that the Great Recession is largely in the rear view mirror. We aren’t in the twilight of the market economy. The storm clouds from the recession have passed.To contact the author of this story: Michael R. Strain at mstrain4@bloomberg.netTo contact the editor responsible for this story: Jonathan Landman at jlandman4@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Michael R. Strain is a Bloomberg Opinion columnist. He is director of economic policy studies and resident scholar at the American Enterprise Institute. He is the editor of “The U.S. Labor Market: Questions and Challenges for Public Policy.”For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Investing.com

    Snap Pops as Wall Street Sees User Growth Boosting Ad Sales

    Investing.com – Snapchat owner Snap jumped on Thursday after Wall Street turned bullish on the social media company on expectations it will attract meaningful ad spend in the coming year thanks to an uptick in user growth.

  • Business Wire

    Snap Inc. Announces Date of Fourth Quarter and Full Year 2019 Results Conference Call

    Snap Inc. (NYSE: SNAP) will hold its quarterly conference call to discuss fourth quarter and full year 2019 financial results on Tuesday, February 4, 2020 at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).

  • Snapchat quietly acquired AI Factory, the company behind its new Cameos feature, for $166M
    TechCrunch

    Snapchat quietly acquired AI Factory, the company behind its new Cameos feature, for $166M

    After acquiring Ukraine startup Looksery in 2015 to supercharge animated selfie lenses in Snapchat — arguably changing the filters game for all social video and photo apps — Snap has made another acquisition with roots in the country, co-founded by one of Looksery's founders, to give a big boost to its video capabilities. The company has acquired AI Factory, a computer vision startup that Snap had worked with to create Snapchat's new Cameos animated selfie-based video feature, for a price believed to be in the region of $166 million. Victor Shaburov, the founder of Looksery who then went on to become Snap's director of engineering -- leaving in May 2018 to found and lead AI Factory -- declined to provide a comment for this story.

  • FarmVille Maker Zynga Is Booming Again
    Bloomberg

    FarmVille Maker Zynga Is Booming Again

    (Bloomberg) -- Frank Gibeau had only just become Zynga Inc.’s CEO, but he had to deliver some bad news.The once-high-flying company, which shot to fame with Facebook games such as FarmVille, was now in trouble. At an all-hands meeting in Zynga’s cafeteria in March 2016, Gibeau put up a slide showing its return on equity compared with video-game peers. The room was very quiet.“I showed them that we are the worst of the worst,” he recalled in an interview. “We are generating less return than everybody else in the industry.”Fast-forward three years, and the mood is very different. The company increased its guidance three times last year. Profit margins have rebounded, and sales are growing at their fastest pace since the game developer went public in 2011. Zynga is “on track to be one of the fastest-growing -- if not the fastest-growing -- gaming company at scale,” Gibeau said.Zynga shares have nearly tripled to $6.15 since Gibeau, now 51, took over as chief executive officer. That includes a 56% gain in 2019, eclipsing the S&P 500’s 29% increase.The stock is still far below its post-IPO high set in 2012, when the exuberance around social media propelled Zynga to almost $16. But shareholders and Wall Street analysts are embracing the company again.“Investors like a good turnaround story,” said Colin Sebastian, an analyst at Robert W. Baird & Co.Along the way, Gibeau reinvented what Zynga is about. It now makes only a sliver of its money from Facebook-based games, which gave the company a reputation for delivering endless requests and notifications to social-media users.Instead, Zynga focuses on stand-alone titles that consumers play on their phones. They include Words With Friends, Zynga Poker, and Merge Dragons!, which lets players combine dragon eggs and treasures to produce skills and objects.Zynga also has used acquisitions to dial up growth. In 2018, it agreed to buy controlling stakes in Small Giant Games for about $560 million and Gram Games for $250 million. And it has a war chest of cash and short-term investments that’s approaching $1.5 billion, which could be used for additional deals. To raise money, Zynga has sold bonds and made more than $300 million from unloading its San Francisco headquarters in a leaseback deal last year.Spending SpreeThe idea is to create a mini-empire of game studios and franchises, said Gibeau, a veteran of Electronic Arts Inc.“We see a lot of opportunities to acquire assets that would grow value for shareholders,” he said. “We want to put those dollars to use.”Zynga is preparing to reinvent itself again by embracing new platforms and devices -- no matter what they may end up being.“Ten years from now, I know for a fact that the platforms will be different,” he said. “There could be other platforms -- like streaming platforms, cloud-based gaming.”The video-game consoles that dominated the industry for so long may not exist in a decade, opening the door to other options, Gibeau said. “I want our games to be playable on anything, even if it’s a toaster or refrigerator.”Zynga has already jumped onto Snapchat. And while it hasn’t provided details on what else is in the works, the company is developing a new multiplatform strategy.“We have a saying, ‘Make platform transition your friend,’” Gibeau said. “You can turn yourself out of position, which frankly Zynga did by being so focused on Facebook.”When Zynga struggled to pull out of its slump, co-founder Mark Pincus recruited Gibeau out of retirement. Though Gibeau was only in his 40s, he’d already spent 25 years at Electronic Arts and helped turn that company around.“I really wasn’t looking for a job,” Gibeau said. “I was getting in shape. I was flying airplanes. I was looking to apply for a master’s program in history. I was spending time with my kids, traveling.”But Bing Gordon, a fellow Electronic Arts veteran who served on Zynga’s board, approached Gibeau for help on behalf of Pincus. A 30-minute chat over coffee with Pincus turned into a three-hour meeting, and Gibeau soon joined Zynga’s board. He found himself visiting the company once a week, then everyday, and he was asked to become CEO.“I just fell in love with the place -- I love turnarounds,” Gibeau said. “I learned a lot from the failures at EA. I looked at it and thought, ‘Man, this is perfect.’ I knew exactly what to do here.”The biggest task was focusing. Under Gibeau’s new management team, Zynga went from working on about 140 projects to a dozen games.The company concentrated on so-called live services -- basically, providing new content for existing games on an ongoing basis -- and tried to make its games more complex and engaging. It also invested in titles tied to movie franchises, such as Harry Potter and Star Wars. And Zynga expanded into Asia and other markets.‘Firm Footing’“The company has significant live-services expertise and has a strong advertising platform, so it can help rapidly scale promising games as they come to market,” said Matthew Kanterman, an analyst at Bloomberg Intelligence. “All in, Zynga is on firm footing for the next few years.”Zynga’s comeback is far from complete. Its profit margins still trail those of peers, and its ability to catch up will depend on the games it releases in 2020 and beyond.But the company has a happier workforce -- and takeover targets actually want to be acquired by Zynga. That wasn’t the case a few years ago, said Mike Hickey, an analyst at Benchmark Co.“Frank and his management just reset the culture and what the market perceives Zynga to be,” he said. “You stop worrying about losing your job and start getting excited about the bonus you make because you’ve hit your goals. That’s the biggest step in a turnaround.”To contact the reporter on this story: Olga Kharif in Portland at okharif@bloomberg.netTo contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, Rob Golum, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.com©2020 Bloomberg L.P.

  • Snapchat will launch Bitmoji TV, a personalized cartoon show
    TechCrunch

    Snapchat will launch Bitmoji TV, a personalized cartoon show

    Snapchat's most popular yet under-exploited feature is finally getting the spotlight in 2020. Starting in February with a global release, your customizable Bitmoji avatar will become the star of a full-motion cartoon series called Bitmoji TV. It's a massive evolution for Bitmoji beyond the chat stickers and comic strip-style Stories, where they were being squandered to date.

  • This Decade in Tech
    Zacks

    This Decade in Tech

    The world as we know it has changed. Technology has become more fluid, filling gaps we never perceived existed, bringing people closer together like never before.

  • Snap Gaps Out Of Base
    Investor's Business Daily Video

    Snap Gaps Out Of Base

    The parent company of the popular Snapchat app soared Friday after UBS upgraded shares to buy from neutral with a 24 price target.

  • Why Jefferies Raised Its Snap Price Target to $21
    Bloomberg

    Why Jefferies Raised Its Snap Price Target to $21

    Jan.09 -- Brent Thill, a Jefferies analyst, explains his bullish outlook for Snap Inc. on "Bloomberg Technology."