Snap stock

2022 - 5 - 23

Snap sends shares tumbling with warning on economy and earnings (CNN)

Snap Inc said the economy had worsened faster than expected in the last month and the social media company slashed its quarterly forecast, triggering an ...

Since late April, "the macroeconomic environment has deteriorated further and faster than anticipated. Shares of Snap ( SNAP) dropped 3.6% and Amazon ( AMZN)

Snap falls 40% on pace for worst day ever, dragging other stocks ... (CNBC)

Shares of social media and some digital ad companies tumbled Tuesday after Snap issued a warning to investors that it wouldn't meet its own targets for ...

"We expect all online ad platforms to feel some impact of a significant consumer pullback," Morgan Stanley analysts said in a Tuesday note to investors. The filing also led its peers with a heavy reliance on advertising down in the afternoon. Snap's shares are down about 83% from a 52-week high in September 2021 and are off 70% year to date.

Snap Stock Tumbles. Earnings Guidance Was That Bad. (Barron's)

Snap SNAP –3.40% stock was tanking after the company lowered its earnings and revenue expectations for the June quarter, citing a rapidly slowing economy.

- Print Article Snap stock tanked after the company lowered its earnings and revenue expectations for the June quarter, citing a rapidly slowing economy. - Order Reprints

Snap stock falls 30% after Snapchat parent says it will miss ... (MarketWatch)

Snap Inc. stock fell more than 20% in the extended session Monday after the Snapchat parent said it likely will miss quarterly estimates as the economy has.

Still, 2022 remains “a significant investment year,” the company said in an internal memo, the Journal reported, and it still plans on adding 500 more employees by year’s end. “We remain excited about the long-term opportunity to grow our business,” the company said. As a result of the macroeconomic conditions, “it is likely that we will report revenue and adjusted EBITDA below the low end of our Q2 2022 guidance range,” the company said in the filing.

Why Snap Stock Cratered on Tuesday (Motley Fool)

The social media company issued a profit warning that sent ripples across Wall Street.

He pointed out that while the outlook is disappointing, he expects the situation to be temporary, according to The Fly. He cited the company's strong fundamentals and the increasing adoption of its first-party data measurement by advertisers. Management went on to say that the company remains "excited" about the "long-term opportunity" ahead. The were a raft of outlook adjustments, as no fewer than a dozen of Wall Street's finest lowered their price targets on Snap.

Snap stock plunges toward worst drop on record as profit warning ... (MarketWatch)

Snap Inc. has sent shockwaves through the digital-advertising world after disclosing that the macroeconomic climate is having a deeper impact on performance ...

DR [direct-response] weakness or specific vertical weakness driving SNAP’s softening outlook, it’s hard to know if the market is getting specific stocks ‘right’ though a broad ad market recession appears increasingly likely” in the near term, he wrote. “The read will of course be negative for the space but a warranted debate is how much of this is SNAP-specific vs. Meta and Alphabet are “likely best insulated” given their positioning in direct-response advertising, he continued. He expects that the company is seeing broader pressure on brand advertising, which could be a negative sign for Pinterest given that company’s heavy exposure to the category. Snap’s acknowledgement of further macro pressures is weighing heavily on other technology stocks as well, with shares of Pinterest Inc. PINS, -23.59%off 26% and on track to log their own record single-day decline. The stock is on track for its largest one-day percentage decline on record.

Snap plunges 30% after CEO warns company will miss revenue and ... (CNBC)

Snap will miss its own targets for revenue and adjusted earnings in the current quarter, CEO Evan Speigel warned on Monday in a note to employees.

As of Monday's close, Snap shares were down over 50% for the year, compared to the 17% drop for the S&P 500. Spiegel said Snap will continue to recruit new employees, but will slow its pace of hiring for the rest of the year. At the time, the company said it expected between 20% and 25% year-over-year growth in revenue.