Why Snap Stock Was Sliding This Week
This was hardly a good week to be a (NYSE: SNAP) shareholder, as the social media company's shares were getting rocked after it published its second-quarter earnings report. Outside of that, the company announced it was going to the well in an effort to raise more capital.
The stock stumbled toward the weekend with a nearly 17% week-to-date fall in its price as of Friday before market open, according to data compiled by S&P Global Market Intelligence.
The quarter saw Snap book revenue of just under $1.35 billion, representing a rise of 9% year over year. That percentage rate increase matched that for daily active users (DAUs; a critical metric for the social media industry), which totaled 469 million. Another industry yardstick, average revenue per user (ARPU), however, only inched up by $0.01 to $2.87.
Source Fool.com
Snap Inc Stock
Currently there is a rather positive sentiment for Snap Inc with 10 Buy predictions and 3 Sell predictions.
With a target price of 11 € there is a hugely positive potential of 67.68% for Snap Inc compared to the current price of 6.56 €.
