![]() ![]() But in a regulatory filing on 23 May, Snap said it is likely to miss its targets made five weeks ago. It estimated an EBITDA of between $0 and $50m. Its operating cash flow dropped to $127m from $137m YoY, while free cash flow fell to $106m from $126m.ĭespite a disappointing financial performance, the company’s global Daily Active Users (DAU) increased by 52 million (18%) to 332 million in the first quarter.įor 2022 guidance, the company at that time said it expected revenue to grow between 20% and 25%. The company’s adjusted EBITDA was $64m in the first quarter of this year, compared to minus $2m in the same period last year. The company posted $1.063bn of revenue in the first quarter of this year, a 38% increase YoY, but below analysts’ estimates of $1.07bn, as compiled by MarketBeat.įor earning per share ( EPS), it recorded a loss of $0.02 – analysts expected earnings of 1%. ![]() In April, Snap reported 2022 first quarter earnings, which missed analysts’ estimates for revenue, profit and sales. Snap stock news: 1Q earnings miss estimates The stock has been trading below its 10-day, 20-day and 30-day simple moving averages ( SMA), indicating a downward trend. The Relative Strength Index ( RSI) reading was neutral at 24. The short-term technical analysis showed bearish consensus sentiment, with the majority of daily, weekl, and monthly indicators suggesting a ‘sell’, according to TradingView. Rising interest rates have prompted investors to dump growth stocks, particularly tech stocks such as SNAP and FB in favour of safe haven assets such as gold.Īt the time of writing (2 June), the stock has lost 70% of its value year-to-date. It also posted its first quarter of positive income as a public company of $23m.īut the stock could not keep the gains for long. The company booked revenue of $1.3bn in the fourth quarter last year, a 42% increase on the previous year. However, the Snap stock market price managed to recoup losses by surging more than 58% on 4 February after it reported strong fourth quarter 2021 earnings. The weak trend followed through 2022, when the stock opened at $47. The Snap stock value lost 6.07% during the roller-coaster ride in 2021. The record high level was short-lived and the stock set to a downtrend. The stock traded in a range of $70-$79 a share in the end of July to September before it hit an all-time high of $83.34 on 24 September. However, in the report, the company warned that changes to Apple's ( AAPL) iOS operating iOS could reduce demand and pricing of its advertising products. It posted a 116% year-over-year ( YoY) increase in revenue to $982m in the second quarter of 2021, and Daily Active Users (DAUs) increased by 23% to 293m. Snap's historical stock price shows us that it surged 23.82% to close at $77.97 on 23 July 2021 after the California-based company reported solid second-quarter performance. It continued its strong performance at least until the first seven months of 2021. Snap, which identifies itself as a camera company, surged 206.61%, closing 2020 at $50.07 a share. Confined at home due to lockdowns, people turned to social media for entertainment and shared messages. Snap, along with its social media peers Meta Platforms’ ( FB) Facebook and Instagram, benefited from robust user engagement during the Covid-19 pandemic. Snap stock analysis: Major price drivers and technical view Instagram came third.As the macroeconomic and competition headwinds are likely to stay, what are the chances for SNAP to recover? We look into the latest news, technical analysis and analysts’ views that may affect Snap stock outlook. But the social media known for its ‘ghost’ logo that represents its vanishing video and messages is facing fierce competition.īyteDance’s TikTok surpassed Snap for the first time as the favourite social media platform among US teens, according to Piper Sandler’s spring 2022 survey Taking Stocks with Teens. SNAP’s founder and CEO, Evan Spiegel, blamed deteriorating macroeconomic headwinds for the company’s gloomy outlook. The fall has shrunk the company’s market capitalisation to $22.79bn, as of 2 June, from $131.48bn in September last year, when the stock closed at an all-time high, according to data from. The stock tumbled to $12.79 a share after the company revised downward its revenue and EBITDA target for this year.Īs of 1 June, the company’s stock closed at $13.93, and it has stayed below its initial public offering ( IPO) price of $17 for the past week. The stock price of Snap ( SNAP), the US-based operator of instant messaging application Snapchat, is still struggling to recover after crashing more than 40% on 23 May. US30 US Wall Street 30 (USA 30, Dow Jones) ![]()
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