What Analysts Are Saying About Snap After Earnings

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Snap Inc. (NYSE: SNAP) reported its most recent quarterly results after the markets closed on Tuesday and investors were less than thrilled. This has been a struggling social media company since its initial public offering earlier this year. The company just can’t seem to get it right, and it proved it again with this earnings report. Analysts also took this opportunity to weigh in on the stock.

24/7 Wall St. has included from brief highlights from the report, as well as what a few analysts are saying after the fact.

The company said that it had a net loss of $0.14 per share on $207.9 million in revenue, which compares with consensus estimates from Thomson Reuters of a net loss of $0.15 per share and $249.45 million in revenue.

Daily active users (DAU) grew to 178 million from 153 million year over year, an increase of 25.2 million or 17%. DAUs increased 4.5 million or 3% sequentially, from 173 million.

Average revenue per user (ARPU) was $1.17, an increase of 39% from last year when ARPU was $0.84. ARPU increased 12% sequentially from $1.05.

Here’s what analysts said after Snap reported:

  • Oppenheimer cut its price target to $14 from $16.
  • Citigroup raised its price target to $14 from $13.
  • Barclays cut its price target to $11 from $13.
  • Canaccord Genuity cut its price target from $15 to $12.
  • Credit Suisse cut its price target to $17 from $20
  • Deutsche Bank lowered its price target to $11 from $17.
  • JPMorgan downgraded it to Underweight from Neutral and cut its target to $10 from $14.
  • Moffett Nathanson cut its price target from $8 to $7.
  • Pivotal Research cut its price target to $8 from $9.
  • Stifel downgraded it to Hold from Buy and lowered its target to $13 from $18.
  • UBS downgraded it to Sell from Neutral and lowered its target to $7 from $12.
  • Wedbush cuts price target to $9 from $12.

Shares of Snap were last seen down over 15% at $12.77, with a consensus analyst price target of $14.78 and a 52-week range of $11.28 to $29.44.