Snap: shares jump over 30% after good quarter
(CercleFinance.com) - Shares in Snap have jumped 30% on Wednesday after the social media company exceeded Wall Street expectations for the first time as a publicly traded company.
The owner of the message app Snapchat saw revenue jump 72% to 285.7 million dollars in the fourth quarter, with daily active users (DAU) increasing by 8.9 million or 5% sequentially to 187 million during the seasonally strong last quarter of the year.
"But Snap lost 720 million dollars in EBITDA in full-year 2017, with only 825 million dollars in revenue'" analysts at Jefferies pointed out.
While the broker raised its target price for the stock from 15 dollars to 17 dollars, Jefferies maintains its "hold" rating, still preferring Facebook in social media.
Half an hour after the market opened, Snap shares were trading 30.7% higher at 17.4 dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The owner of the message app Snapchat saw revenue jump 72% to 285.7 million dollars in the fourth quarter, with daily active users (DAU) increasing by 8.9 million or 5% sequentially to 187 million during the seasonally strong last quarter of the year.
"But Snap lost 720 million dollars in EBITDA in full-year 2017, with only 825 million dollars in revenue'" analysts at Jefferies pointed out.
While the broker raised its target price for the stock from 15 dollars to 17 dollars, Jefferies maintains its "hold" rating, still preferring Facebook in social media.
Half an hour after the market opened, Snap shares were trading 30.7% higher at 17.4 dollars.
Copyright (c) 2018 CercleFinance.com. All rights reserved.