Snapchat's New Context Cards Update Is Making It a Truly Useful App

Bank of New York Mellon Corp acquired a new stake in Snap during the first quarter valued at about $525,000. US Bancorp DE purchased a new stake in Snap in the 1st quarter valued at about $101,000. WFG Advisors LP increased its stake in Snap by 52.4% during the 2nd quarter. LLC lifted its stake in Snap by 25.2% in the second quarter.

Snap Inc (NYSE:SNAP) was the target of some unusual options trading on Monday. Pacer Advisors Inc. now owns 9,869 shares of the company's stock valued at $175,000 after purchasing an additional 757 shares in the last quarter. This is an increase of approximately 542% compared to the average volume of 5,463 put options. While Snap hasn't revealed the financial terms of the deals with these partners, we can assume that there will be some sort of revenue-sharing agreements in place. Finally, J P Morgan Chase & Co reissued a neutral rating and issued a $14.00 target price (down previously from $16.00) on shares of Snap in a research report on Monday, September 25th. Susquehanna Bancshares Inc initiated coverage on Snap in a research report on Friday, March 3rd. Canaccord Genuity has "Hold" rating and $22 target. Aegis reduced their target price on Snap from $20.00 to $19.00 and set a hold rating for the company in a report on Wednesday, June 21st. Needham & Company LLC reiterated an "underperform" rating on shares of Snap in a research note on Thursday, October 5th. Ten analysts have rated the stock with a sell rating, twenty-five have given a hold rating and twelve have issued a buy rating to the company's stock.

"With Context Cards, Snaps have become the visual starting point for learning more about the world, empowering our community to get more information about anything that catches their eye", Snap Inc. The firm's market capitalization is $24.20 billion.

That's a significant jump in confidence, especially when considering that Snap has disappointed investors with user growth over the past two quarters, causing the stock in August to plunge to a new all-time low of $11.28, which at the time, amounted to a 33% decline below it March IPO price of $17. The firm has a 50-day moving average of $14.66 and a 200 day moving average of $17.36. The stock of Snap Inc (NYSE:SNAP) earned "Sell" rating by Pivotal Research on Thursday, August 10. The company reported ($2.31) EPS for the quarter, missing the Zacks' consensus estimate of ($2.05) by $0.26. The business had revenue of $181.70 million for the quarter, compared to analysts' expectations of $186.49 million. Snap's revenue for the quarter was up 285.6% compared to the same quarter previous year. It now has negative earnings.

The new features come as Snapchat tries to remain relevant and fight off competition from Facebook Inc.



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