Snapchat beats expectations as shares rise 20%

In a letter to investors issued today, Spiegel lays out the case for Snap's eagerness and efficiency at responding to growing competition from Facebook and slowing growth internally.

While Snap made significant gains in Q4 - the results impressed investors, sending the company's stock soaring to heights it hasn't seen in a while - it's still unclear whether the social app can become a true alternative to Facebook and Google as a digital advertising giant in the months and years to come. Of all equities tracked, Snap had the 7th highest net out-flow for the day.

Snap is working on redesigning its app to separate what friends share and what media organizations publish in an attempt to appeal to a broader range of users.

On the positive side, Wieser noted that Snap managed to attract smaller advertisers en masse for the first time. Westwood Holdings Group Inc. bought a new position in Snap during the second quarter valued at about $148,000. The company had a trading volume of 166,232,094 shares, compared to its average volume of 22,712,875. Steward Partners Investment Advisory LLC boosted its stake in shares of Snap by 967.3% during the 4th quarter.

"Among our Top 10 Surprises for the internet sector in 2018, we included: Snap Snaps Back", Mahaney said in a research note to clients. Snap's new feature might not have been a direct response to these concerns, but it'll be interesting to see if and how it impacts the way people use Snapchat.

Snap Inc. operates as a camera company. Snap has a 12 month low of $11.28 and a 12 month high of $29.44. The firm has a market cap of $24,990.00 and a PE ratio of -6.53.

Extreme Networks reported a fiscal second quarter net loss of $31.9 million, or 28 cents a share, on revenue of $231.1 million, up 48 percent from a year ago.

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Snap was not as forthcoming about after it was initially expected to launch in late 2017.

Snap also increased its daily active users by 8.9 million, a 5 percent increase, bringing its total to 187 million, the company said in an earnings release.

A number of analysts have weighed in on the stock.

It's that time of the year again when companies share their fourth-quarter results and Snap reports solid growth in North America.

In the middle of 2017, Snap began moving to an automated bidding process for selling ads, making it easier for more marketers to buy spots. Fourteen equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. The company has an average rating of "Hold" and a consensus target price of $17.99.

In other Snap news, Director Mitchell Lasky sold 25,000 shares of the business's stock in a transaction dated Tuesday, February 6th. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.