Snapchat is introducing 'Context Cards' in an attempt to become more useful

Snap Inc., formerly Snapchat, Inc., is a camera company. Drexel Hamilton reiterated a buy rating and issued a $30.00 price objective on shares of Snap in a report on Wednesday, October 4th.

Shares of Snap (SNAP) opened at 14.34 on Friday.

"The firm's longer-term investment thesis remains predicated on the following: "(1) we believe SNAP shares at current levels are now exhibiting asymmetric risk/reward to the upside, with downside risk of ~6% in our Grey Sky scenario and upside potential of ~39% to our target, (2) it is a scarce asset that offers advertisers access to a coveted younger demographic; and (3) Snap is a margin expansion story with revenue CAGR exceeding cost of sales CAGR".

On the conference call with analysts following the Q2 earnings results, co-founder and CEO Evan Spiegel explained the company's reasoning for its low DAUs and for not taking a more global approach. WFG Advisors LP now owns 7,377 shares of the company's stock worth $131,000 after buying an additional 2,537 shares in the last quarter. The company had revenue of $181.70 million during the quarter, compared to analysts' expectations of $186.49 million. While citing increased user engagement on the messaging platform, Ju bumped his price target to $20, up from $17, implying 39.5% upside from Tuesday's closing price of $14.34. If you are viewing this article on another website, it was copied illegally and reposted in violation of US & worldwide trademark and copyright legislation. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & worldwide trademark & copyright law.

Shares of Snap Inc. Following the completion of the sale, the insider now owns 9,946,464 shares in the company, valued at approximately $149,196,960. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Following the completion of the transaction, the chief financial officer now directly owns 1,882,280 shares of the company's stock, valued at approximately $23,528,500. The shares were sold at an average price of $12.50, for a total value of $2,438,750.00. Also, VP Timothy Sehn sold 400,000 shares of Snap stock in a transaction dated Monday, August 14th.

No word on how this benefits Snapchat in the money aspect, though if it's a click-through deal, the company has to count on people to "come over".

Fast forward two months later, Wall Street - understanding the company's metrics better - is now warming up to Snap and willing to look beyond Snap's near-term flaws. These Stories will contain curated Snaps from the community that have been taken around the places, or imagery from Snapchat's partners.

Want to see what other hedge funds are holding SNAP?

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