"Just because Yahoo! has a search box doesn't mean they're Google", he added, referring to the competition between the two internet-search companies in the late 1990s and early 2000s. Vetr raised shares of Snap from a strong sell rating to a sell rating and set a $20.40 target price on the stock in a report on Monday, March 13th.
The company is now trading at $17.46 per share, just above its initial public offering price of $17.
Measured per user, revenues were three times higher than in the same quarter past year but 14% lower compared to the previous three months.
SHARES IN Snap Inc, the owner Snapchat, plunged overnight after the company filed its first results as a public company revealing disappointing user and revenue growth.
Snapchat floated on the United States stock market in March and in early trading saw its valuation rise above £25 billion.
Snap's revenue jumped almost four-fold year-over-year to US$149.6 million but fell short of the average analyst forecast of US$158 million, according to Thomson Reuters I/B/E/S. Revenue was also down from the fourth quarter of 2016, a seasonally stronger period for ad sales, when it was US$166 million.
The company had reported a 47.7 percent rise in users for the fourth quarter and a 62.8 percent jump in the third quarter, according to its IPO filing. Revenue grew 32% in Facebook's second quarter of 2012, essentially in line with the 32% year-over-year increase in daily active users. It was the most valuable USA tech IPO since Facebook first floated its stock in 2012.
Snapchat maker Snap issued its first earnings report as a public company on Wednesday, and, well, it could've gone better.
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Originally launched by Snapchat, the "Stories" feature shows photos and videos shared in chronological order that disappear after 24 hours. Snap is in its early monetization phase, and investors and analysts were expecting a continued growth.
While Snap is most often compared to other social-media companies, the high degree of secrecy with which Mr Spiegel guards his plans recalls, more than any other tech company, Apple.
In its ad revenue forecast for the next few years, eMarketer predicted that Snapchat will continue to see faster revenue growth than any other digital company, although future growth rates are expected to be slower than they were in 2016. Just that bonus alone was worth more than $850 million based on Snap's closing price Wednesday. LLC bought a new stake in Snap during the first quarter valued at $48,425,000.
Teens, though, don't necessarily want to use the same messaging and socializing tools that their parents and grandparents are using.
"If they attempt to tackle both, Snapchat will discover that meeting the needs of a 15 year old vs. a 30 year old will be very different", Liu said in an email.
This could be an app such as Houseparty, a group video chat app that's popular with teens, or Musical.ly, a video social network that lets people create and share short music videos.
For one thing, the best advertising on Snapchat takes into account phones' vertical screens and the app's unique swipe-driven navigation.
All the copying appears to be paying off for Facebook.
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