Snap is getting dangerously close to its IPO price (SNAP)

Reuters

Reuters

Those worries increased after Snap's first quarterly report last month showed declining revenue expansion, disappointing investors who had hoped the company would surprise them with big numbers. However, the company has only been working toward monetization for about two years and has "significant work" to do on its ad business. Pivotal Research initiated coverage on shares of Snap in a report on Thursday, March 2nd.

Since the beginning of May, underwriters in Snap's IPO including JPMorgan, Deutsche Bank and Barclays have also cut price targets on the company's stock. Finally, CIBC reiterated a market perform rating on shares of Snap in a research note on Tuesday, March 28th.

Alibaba BABA.N slipped under its IPO price 233 days after its stock market debut while Facebook FB.O dipped below its IPO price in its second day of trading. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of "Hold" and an average target price of $21.84.

To boost revenue, the company will need more of Snapchat's customized packages of pictures and videos, called "Stories". "(SNAP) to Announce -$0.27 Earnings Per Share" was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem.

And please, take this moment tell us all about how tech stocks snap back because they're just too hyped and not ready to live on their own yet. The legal version of this article can be viewed at https://sportsperspectives.com/2017/06/16/snaps-snap-reduce-rating-reiterated-at-instinet-updated.html. US Bancorp DE acquired a new position in shares of Snap during the first quarter valued at about $101,000. BlackRock Inc. purchased a new position in shares of Snap during the first quarter worth approximately $211,934,000. Finally, Mirae Asset Global Investments Co.

That said, it is important to note that after Facebook made its stock market debut the company's stock price dropped below its IPO price in its second day of trading. 18,943,405 shares of the company traded hands. Snap has a 52-week low of $17.56 and a 52-week high of $29.44.

According to SeekingAlpha, Snapchat lost over $2 billion in its first earnings release as a public company alone. The firm has a 50-day moving average of $20.48 and a 200-day moving average of $21.10. Investors purchased 35,051 put options on the stock.

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