Snap plunges after its earnings beat as analysts say it's going to take longer to get profitable

Snap was down more than 6% Wednesday morning after an initial after hours rally on its earnings beat. The drop shaved more than $900 million from its market cap, bringing it just below $15 billion, though the stock is still up more than 104% in 2019.

But the surge began to fade to just about a 1% bump after hours as investors continued to read through the report and listened to Snap's earnings call. "While we are impressed with Snap's user and revenue growth, the company's road to profitability appears to have gotten longer," Wedbush Securities analysts wrote in a note Wednesday, maintaining their neutral rating with a 12-month price target of $12.25.

I did not bet on it BMC. The option premium costs 10% of share price. The call and put cost 90c to a dollar.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

LIVE: Here comes Snap's Q1 2019 earnings...Snapchat parent company Snap announces its Q1 2019 earnings after markets close on Tuesday.
Sumber: BusinessInsider - 🏆 729. / 51 Baca lebih lajut »

Snap rally fades after earnings beatSnap shares soared in after-hours trading on Tuesday after the company lowered losses, beat on revenue and continued growing its user base.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »