Snap Reports Earnings Today. App Engagement Is a Risk.

Snap investors are eagerly anticipating the latest updates on its business after the close. Some analysts are worried the social media app’s best days of growth are behind it.

For the third quarter, the analyst consensus for Snap is for the company to lose 24 cents per share on revenue of $1.11 billion, and 405.8 million in daily active users, according to FactSet. Analysts’ estimates for the current fourth quarter is a loss of 16 cents per share on revenue of $1.34 billion, and DAU of 414.5 million.

On Monday, Bernstein analyst Mark Shmulik reiterated his Market Perform rating for Snap stock, and reaffirmed his $11 price target. A lot of Snap’s progress with its ad technology “has been offset by spend decline from top advertisers,” he wrote. “Time spent also appears to be challenged domestically.”The analyst cited how Snap app downloads have fallen by 3% year over year during the September quarter, according to Apptopia data. Less downloads could signal problems for the company’s growth and engagement numbers.

Snap stock rallied last week when the Verge reported details about CEO Evan Spiegel’s internal memo regarding the company’s stretch goals for next year.Write to Tae Kim at tae.kim@barrons.com

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Microsoft Reports Earnings Today. What to Expect.Microsoft shares have stalled as investors await a payoff from generative AI.
Source: MarketWatch - 🏆 3. / 97 Read more »

Earnings playbook: How to trade a busy week of reports from companies including Microsoft and MetaBig Tech takes center stage in what could be a make-or-break week for S&P 500 earnings.
Source: CNBC - 🏆 12. / 72 Read more »

The week ahead: Bond yields and earnings reportsThe 10-year US Treasury yield continues its march towards 5%, the yield surged by 30 basis points last week, which triggered a decline in risky assets
Source: FXStreetNews - 🏆 14. / 72 Read more »

Morgan Stanley's Wilson: Next rally attempt will fail as investors are punishing earnings reports.Critical information for the U.S. trading day
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock Market Today: Dow falls as energy stocks weigh; big tech earnings eyedStock Market Today: Dow falls as energy stocks weigh; big tech earnings eyed
Source: Investingcom - 🏆 450. / 53 Read more »

Coca-Cola Reports Earnings Tuesday. What to Expect.Many investors who piled into consumer staple stocks in 2022 to ride out market volatility have since pulled out.
Source: MarketWatch - 🏆 3. / 97 Read more »