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Snap shares tank further after reporting $443m loss

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Snapped

A number of institutional investors have recently added to or reduced their stakes in the stock.

Snap has suffered from falling stock prices since floating on the U.S. share market earlier this year. Moffett Nathanson reaffirmed a "sell" rating on shares of Snap in a report on Friday, March 31st.

On Thursday, the company turned in its second earnings report card since its much hyped IPO. The stock has slumped 19 percent since Snap's March 1 IPO at $17 a share, closing at $13.77 in NY on Thursday. Finally, Oppenheimer Holdings, Inc. upgraded Snap from a "market perform" rating to an "outperform" rating and set a $23.00 price target for the company in a research note on Thursday, May 11th. They issued a "hold" rating and a $22.00 price target on the stock. They set a "neutral" rating and a $24.00 price objective on the stock.

Snap (NYSE:SNAP) opened at 13.77 on Wednesday. The stock's 50 day moving average price is $15.27 and its 200 day moving average price is $19.19. The company's market cap is $14.16 billion. This is an important metric for Snap because because the company says it's a good indicator of its business growth - and a reflection of its strategy to push hard into more mature advertising markets.

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Despite another disappointing performance, Snap cofounder and CEO Evan Spiegel put on a courageous face on Thursday.

"We've always been last to market competing against giant companies", Spiegel said, adding that the company has met numerous challenges. Revenue grew to $182 million, more than double the $72 million a year earlier but below analysts' expectations. The average amount of revenue made per user increased by 109 percent over the year to $1.05.

ILLEGAL ACTIVITY NOTICE: This story was published by Week Herald and is the sole property of of Week Herald. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & global trademark & copyright law. The correct version of this story can be viewed at https://www.com-unik.info/2017/08/11/snap-inc-nysesnap-given-buy-rating-at-drexel-hamilton.html. Pacer Advisors Inc. purchased a new position in Snap during the first quarter valued at $205,000. Google reportedly expressed an interest in buying the company for $30bn previous year.

Dubuque Bank & Trust Co. acquired a new position in Snap Inc. Oppenheimer & Co. Inc. now owns 19,816 shares of the company's stock worth $352,000 after buying an additional 3,447 shares during the last quarter. For the sake of SNAP stock investors, taking the money from Alphabet - if it's still on the table - is the best option now. Since then, Snap has worked to court advertisers and media outlets looking to connect with the company's younger audience, who have been drawn to its ephemeral messages, creative filters, and short-form content. (SNAP) has revolved around the impact of Facebook's clones - Instagram Stories especially - on Snapchat's user growth.

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