|Bid||17.23 x 1300|
|Ask||17.24 x 800|
|Day's Range||17.10 - 17.33|
|52 Week Range||9.13 - 19.75|
|Beta (5Y Monthly)||1.06|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr. 20, 2020 - Apr. 26, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||20.03|
(Bloomberg) -- Twitter Inc. is acquiring Chroma Labs, a seven-person startup that was founded by former Facebook and Instagram employees for building photo and video-editing features.Chroma Labs was launched last fall with an app that lets people edit photos and videos before sharing them on the Stories features inside other apps, like Instagram or Snap Inc.’s Snapchat. The company is joining Twitter to “give people more creative ways to express themselves in conversations,” said Twitter’s head of product, Kayvon Beykpour, in a tweet. A Twitter spokesman declined to comment on deal terms.John Barnett, Alex Li and Joshua Harris, Chroma Labs co-founders, worked on products at Facebook Inc. before setting out on their own to build a company around creative editing tools. While at Facebook, the group’s members were involved in projects such as Instagram Stories, augmented-reality camera effects and Oculus virtual-reality headsets. Early investors in the San Mateo, California-based startup include Index Ventures, Sweet Capital and Combine VC.Twitter has said that improving conversations on the social-media service is a top priority. In recent weeks, the San Francisco-based company has changed the way some user interactions appear in the app and has added the ability to respond to direct messages with emojis. Twitter hasn’t unveiled a Stories-like product for disappearing posts, though it introduced some camera features like tags and labels last year.“[We] built Chroma Labs and many successful products together to inspire creativity and help people tell their visual stories,” Barnett said in a statement. “We look forward to continuing this mission at a larger scale with one of the most important services in the world.”To contact the reporter on this story: Kurt Wagner in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, 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.
Snapchat's developer platform is blowing up as a gateway to teen social app users. Hoop is the latest Snap Kit blockbuster, rocketing to No. 2 on the overall App Store charts this month with its Tinder -esque swiping interface for discovering people and asking to message with them over Snapchat. Within a week of going viral, unfunded French startup Dazz saw Hoop score 2.5 million downloads.
Snap's (SNAP) fourth-quarter 2019 results benefit from growth in DAUs and user engagement levels, owing to strong adoption of AR Lenses and Premium content.
(Bloomberg) -- Snap Inc. shares tumbled after the social-media company’s revenue missed expectations, snapping six quarters of beats. The Snapchat parent also gave a first-quarter sales outlook that was seen as light.Analysts broadly described the quarter as mixed, noting strength in metrics like user growth and engagement. Because of these offsetting factors, Barclays wrote that the size of the share-price drop seemed “a bit harsh.” UBS wrote that the quarter “contained enough mixed messages to cause a negative reaction in the shares that seemed rational short-term.”Brokers also pointed to recent gains in Snap shares, a sign of elevated expectations going into the print. “While the report was generally in-line,” Susquehanna wrote, “it wasn’t good enough to sustain the stock momentum.”Shares sank as much as 7.3%. This comes after a rally of nearly 35% between a December low and the close of trading on Tuesday.Here’s what analysts are saying about the results:BofA, Justin Post“User growth continues to accelerate, while company execution has seemingly turned the corner.” The valuation is high, but Snap “has a clear path ahead to better monetize its highly engaged and growing user base.”Buy rating, $22 price target.UBS, Eric SheridanThe results “contained enough mixed messages to cause a negative reaction in the shares that seemed rational short-term.” Snap needs upside in both revenue and user growth to sustain the momentum in the stock.Sees continued “strong performance in user growth/engagement, yield from platform investments & improved benefits of scale pointing toward profitability.”Buy, $24 price target.Barclays, Ross SandlerA sell-off of this magnitude “seems a bit harsh,” but is “not surprising” given the valuation.Would use the decline as a buying opportunity as Snap “is one of the few names with a strong possibility of accelerating growth and profit inflection in 2020.”Overweight, price target raised by $1 to $23.Jefferies, Brent ThillThe revenue miss and deceleration in North American revenue “should not cause major concern,” as the company’s underlying fundamentals “remain very healthy.” The first-quarter outlook implies an acceleration in user growth, and “we think they can nearly double” average revenue per user (ARPU) over a three-year period.However, these results come in the wake of similarly disappointing numbers from both Facebook and Alphabet, “raising questions about the durability of the U.S. ad market.”Buy, $21 price target.Susquehanna Financial Group, Shyam PatilExpectations were high going into the news, and “while the report was generally in-line, it wasn’t good enough to sustain the stock momentum.”But the company “continues to progress on its turnaround,” with strong daily active user growth and improving monetization. “We like the recent improvements to execution across the business.”Neutral, price target to $17 from $16.Citi, Jason BazinetSnap “continued to deliver strong sequential global DAU growth,” though the quarter was mixed overall.Neutral rating, “as we believe there could be top-line revenue risks on Street 2021 estimates due to ARPU growth pressures.”JMP Securities, Ronald Josey“Expectations were elevated into what we view as a solid result.”The deceleration in revenue was related to a shorter holiday shopping season, a factor that “had an outsized impact on results, due partly to Snap’s greater reliance on brand advertising.” Because of this, the results are “more of a one-time event,” and revenue growth should re-accelerate in the first-quarter.“Snap’s ad business and platform overall is significantly better positioned to continue closing its ARPU gap relative to Twitter and Facebook.”Market outperform, $22 price target. “We are buyers, especially on any pullback in shares.”RBC Capital Markets, Mark MahaneySnap was “was more materially impacted by [a] shortened holiday season” than either Facebook or Alphabet given “less supply constraints.”The company is “still at an inflection point,” so the stock is “still investable.”Outperform, $21 price target.Cowen, John BlackledgeBoth the results and the first-quarter outlook were mixed, though engagement was a bright spot. “The platform continues to reap the rewards of app improvements over the past several quarters, including the rework of the Android application. These improvements have helped to drive better engagement and user retention.”Outperform, $20 price target.What Bloomberg Intelligence Says:“Snap’s below-consensus 1Q guidance shows it’s still figuring out revenue scaling as user growth stays strong.”There is “room for upside surprises for the year,” and user growth can help the company overcome the outlook.\- Analyst Jitendra Waral\- Click here for the research(Updates to market open, adds comments from BofA, UBS and Barclays)To contact the reporter on this story: Ryan Vlastelica in New York at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Will Daley, Scott SchnipperFor 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.
Snap Inc. (NYSE: SNAP) has filed its Annual Report on Form 10-K for the year ended December 31, 2019, with the Securities and Exchange Commission.
(Bloomberg) -- Snap Inc. reported quarterly sales that missed Wall Street estimates, a sign that the photo-sharing app is finding it harder to carve out a niche in the crowded digital-advertising market. Shares slumped 12% in extended trading.Fourth-quarter sales totaled $560.9 million, the company said Tuesday in a statement. That was less than analysts’ average projection of $562.9 million. Snap’s first-quarter revenue forecast also came in slightly below expectations.The owner of the Snapchat app last year executed a turnaround after a much-criticized redesign, a series of executive departures and job cuts, and a rocky 2017 initial public offering. The company added more users than expected in the fourth quarter, as people downloaded a better Android version of the photo chat app, but it still isn’t profitable -- Snap reported a quarterly and annual net loss, including a $100 million payment to settle a lawsuit related to the IPO. Before the report, investors had been optimistic about the company’s prospects, and the stock had gained about 16% this year.“We are working hard to scale our revenue so that we are able to self-fund our investments in the future,” Chief Executive Officer Evan Spiegel said in prepared remarks to investors.The stock dropped as low as $16.08 in late trading following the earnings report, after closing at $18.98 in New York earlier on Tuesday.Snap operates in a competitive digital-advertising market, where Google and Facebook Inc. capture the bulk of sales. It also faces the emergence of new competitors for young social-media users, like ByteDance Inc.’s TikTok. Still, Spiegel argues Snap has an opportunity to sell advertisers access to a younger audience.The Santa Monica, California-based company said on Tuesday that it had 218 million daily active users in the fourth quarter, beating the 214.2 million average analyst estimate. Besides the Android improvements, the company has been drawing more users in with creative photo tools, such as filters that manipulate the age of your face on a sliding scale.The company’s net loss in the recent period, including the legal-settlement charge, was $240.7 million, or 17 cents a share. Snap forecast first-quarter revenue of $450 million to $470 million. Wall Street was looking for $463 million, according to data compiled by Bloomberg.(Updates with legal settlement in the third paragraph)To contact the reporter on this story: Sarah Frier in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Alistair BarrFor 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.
The big problem was a one-time $100 million legal settlement that pushed it to lose $49 million more in Q4 2019 than Q4 2018. The IPO was soured by weak user growth as people shifted from Snapchat Stories to Instagram Stories.
Snap, which owns the popular photo messaging app Snapchat, had earlier warned its peak advertising demand period between Black Friday and the December holidays had one fewer week this year. Revenue, which the company generates from selling advertising on Snapchat, rose 44% to $560.88 million (430.3 million pounds) but missed the average analyst estimate of $563.03 million. While Snap has invested in a self-serve platform to make it easier for advertisers to buy ad space, it is still a long way from stealing ad dollars from Alphabet Inc's Google and Facebook , which command a huge portion of the digital advertising market.
More than halfway through earnings season, the spotlight will turn to a handful of big earnings reports Tuesday, including Disney and Chipotle.
On today's episode of Full Court Finance here at Zacks, we preview what investors can expect from Snap, Spotify, and Twitter's upcoming Q4 financial results...
Investors are gearing up for what is likely to be another busy week in markets, with a host of major tech companies due to report earnings and the January jobs report and Iowa caucuses for the 2020 U.S. presidential election also on the calendar.
Snap's (SNAP) fourth-quarter results are expected to reflect benefits from initiatives related to original shows and innovative features in Snapchat amid stiff competition.
Snapchat is betting that narcissism drives resonance for its new weekly videos that put you and your friends' customizable Bitmoji avatars into a flurry of silly animated situations. It's a style of content only Snapchat could pull off that relies on ubiquitous personalized avatars only Snapchat owns. The company says 70% of its daily active users, or 147 million of its 210 million, have made themselves a Bitmoji.
Snap is right at a 18.46 buy point with earnings due Tuesday. Snap cleared that entry on Jan. 17 but fell back on Friday. Analysts expect Snap to break even vs. a per-share loss of 4 cents a year earlier Revenue should jump 44% to $561 million.