8/23/2023 0 Comments Snap stocktwitsIn terms of upside potential, Snap also comes out on top with analysts expecting to see share prices gain 8% in the next twelve months.This article first appeared on Simply Wall St News. Snap boasts a ‘Moderate Buy’ analyst consensus and a $17 average price target. And the Winner is…Īll in all, Wall Street picks Snap over Twitter. Based on this, the three-star analyst reiterated his Hold rating on August 27. Adjusted EBITDA was 35.4% of revenue in the first half of 2019, down from 37% in the year-ago period.Ĭleveland Research analyst Chandler Converse believes that this suggests an issue with long-term growth. The company is currently expecting a 20% year-over-year increase in operating expenses for full-year 2019 all while margins are contracting. Regardless of who is to blame for the attack, Twitter already faces several other headwinds. “The phone number associated with the account was compromised due to a security oversight by the mobile provider,” Twitter’s communications team stated. SIM swapping refers to someone convincing a mobile carrier to switch an existing number to a new SIM card they control. ![]() In the wake of the news, Twitter has pushed some of the blame onto the mobile provider, suggesting that Dorsey fell victim to SIM swapping. If a hacker can breach a company executive’s account, can they breach President Trump’s? While Trump stated on August 30 that a cyber attack targeting his Twitter account “shouldn’t be too bad”, Wall Street isn’t so sure. The sounding of alarm bells among investors comes from new questions as to the company’s ability to protect high-profile accounts. Investors have not been happy since the August 30 news of the hacking, sending TWTR shares falling almost 2%. As a result, he upgraded the rating to a Buy and raised the price target from $18 to $20, implying 26% upside potential. “Gaming provides SNAP a credible vector of incremental growth, naturally fitting with the platform’s differentiated appeal to younger cohorts looking for innovative digital experiences to extend real-world relationships,” the analyst explained. ![]() 6-second ads are displayed in the game, with the company planning to add other forms of monetization such as in-app purchases in the future. Management expects the game to drive an increase in the amount of time users spend on the app as well as revenue growth from ads. The game is actually a collection of mini-games that was designed to be a multi-player experience, according to Will Wu, Snap’s director of product and the lead on the gaming initiative. The game was developed after its January acquisition of the game studio behind Fruit Ninja and Jetpack Joyride, Prettygreat. ![]() The transition into this area began in 2017 after gaming giant Tencent ( TCEHY) bought 12% or 146 million of Snap’s shares.īack in April, Snap announced the release of its game, Bitmoji Party. It scored a ratings and price target boost from Evercore ISI analyst Kevin Rippey thanks to its foray into the gaming space. The social media platform which is already up 189% year-to-date, has just convinced another analyst to get on board. With this mind, we wanted to take a closer look to see which social media stock analysts say will come out on top.
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