snapchat parent snap slides below ipo price
Wednesday 30 July 2025
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

Snapchat parent Snap slides below IPO price

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleSnapchat parent Snap slides below IPO price

Snapchat co-founders Bobby Murphy, left, and Evan Spiegel, chief executive officer of Snap Inc
San Francisco - AFP

Shares of Snapchat parent Snap Inc. plunged Tuesday, slipping below the price at the time of its stock offering, after a pessimistic outlook from a Wall Street analyst on the popular messaging service.

Snap closed down 8.7 percent at $15.50, falling below its price for its initial public offering (IPO) in March of $17.

The market action came as Morgan Stanley analyst Brian Nowak said that Snapchat's advertising products were not catching on as quickly as had been expected.

Nowak said Snapchat is also facing tougher competition from Facebook-owned Instagram, which has been offering similar services, and downgraded the company with a $16 target price.

"We have been wrong about Snap's ability to innovate and improve its ad product this year (improving scalability, targeting, measurability, etc.) and user monetization," he said in a note to clients.

"We also believe user growth trends have also been modestly weaker than expected... On competition, we believe Instagram has become more aggressive in competing for Snap's ad dollars. As such, we see Snap ad revenue growth being materially slower than we previously expected."

Snap was the largest IPO of 2017 and rose more than 40 percent from initial trades to give it a market value of some $34 billion, but the recent slide has cut its valuation nearly in half.

Nowak said other new tech companies have also struggled in their early days and noted that "the key now is Snap's ability to execute and improve its ad offering."

In its first quarterly earnings report, Snap said it lost some $2.2 billion in the first three months of the year on revenues of $149.6 million, disappointing analysts.

Snapchat, which has become popular among young smartphone users for its disappearing messages, saw the number of users of the platform increase to a weaker-than-expected 166 million at the end of March.

Although Snapchat is best known for its smartphone messaging, it has also developed partnerships with numerous media outlets eager to reach its audience with news, video and other content.

source: AFP

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

snapchat parent snap slides below ipo price snapchat parent snap slides below ipo price

 



Themuslimchronicle, themuslimchronicle

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 20:55 2017 Wednesday ,09 August

Australia locates missing submerged US aircraft

GMT 09:00 2015 Wednesday ,26 August

NFL quarterback Michael Vick joins Steelers as back up

GMT 20:22 2017 Saturday ,05 August

2,000 ISIS militants still in Syria’s Raqqa

GMT 00:01 2017 Saturday ,22 April

OmanPride: 'Omanis are kind and generous'

GMT 13:01 2017 Thursday ,30 November

Streaking Cavs survive James' first career ejection

GMT 06:21 2017 Saturday ,11 March

UAE students launch first nano satellite into space

GMT 08:16 2011 Friday ,24 June

Tuxedos launch Paris menswear shows

GMT 12:44 2011 Monday ,12 December

Business trip: Frankfurt

GMT 12:17 2017 Sunday ,05 February

‘Queen’ Ahlam’s Dubai Opera concert a hit

GMT 14:01 2017 Thursday ,17 August

Wal-Mart reports lower profits but higher US sales

GMT 09:06 2018 Tuesday ,23 January

US warns Russia on Syria chemical attack report

GMT 17:34 2018 Wednesday ,17 January

Bank of Canada raises benchmark interest rate to 1.25%

GMT 05:26 2012 Wednesday ,25 April

The Complete Poems

GMT 20:43 2017 Saturday ,09 September

OPEC daily basket price for Tuesday, 5th September, 2017

GMT 09:39 2016 Saturday ,23 July

French trial casts shadow

GMT 08:31 2017 Tuesday ,07 March

Deutsche Bank drags European equities lower

GMT 09:52 2017 Thursday ,14 September

Defa Jadid: players need more harmony
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle