#Buy snap stock series

We remain side-lined on the view that this is a largely upper-funnel platform offering structurally lower conversions levels leading to share loss, barring a fuller macro rebound. Still, RBC Capital Markets analyst Brad Erickson reiterated his “neutral” rating on Snap stock today and said: Snap attributed the weakness in the recent quarter to changes it made to its ad platform that it agreed are disruptive for now but will eventually help increase click-through conversions in the future. Average revenue per user of $2.58 also missed expectations.Global DAUs climbed to 383 million – a million below estimates.Consensus was a penny per share loss on $1 billion in revenue.Revenue slipped 7.0% year-on-year to $988.6 million.Earned a penny per share on an adjusted basis in Q1.Per-share loss narrowed marginally from 22 cents to 21 cents.Lost $328.7 million versus the year-ago $359.6 million.For the year, Snap stock is down 4.0% at writing.

#Buy snap stock series

Last week, the social media company launched a series of AI products. Snap now sees between $1.0 billion to $1.09 billion in revenue in its current quarter – slightly below the Street estimates and suggesting another 6.0% year-on-year hit to revenue, as per its letter to shareholders. The stock is under pressure because the company’s internal forecast couldn’t cheer the shareholders either.

Snap Inc ( NYSE: SNAP) opened nearly 20% down on Friday after reporting a decline in revenue for it first financial quarter.