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SNAP

Snap

$17.57

0.5695 (3.35%)

13:30
06/16/17
06/16
13:30
06/16/17
13:30

Snap calls outpace puts 2:1 as shares see strength

Snap calls outpace puts 2:1 as shares see strength. The stock up 67c to $17.67 with help from positive comments from former Yahoo (YHOO) CEO Ross Levinson. In option action, the eight most active contracts in Snap are calls, being led by 5.1K at the Jul 28th 18 call strike. Aug 16 calls, Jul 18 calls, and Jul 17 calls are drawing interest as well. Total volume includes 32K calls and 16K puts.

  • 28

    Jun

  • 19

    Jul

SNAP Snap
$17.57

0.5695 (3.35%)

06/09/17
06/09/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Snap (SNAP) downgraded to Neutral from Buy at Citi with analyst Mark May saying a slower than expected roll-out of new platforms and channels like self-serve is slowing down the pace of monetization growth. 2. Domino's Pizza (DPZ) downgraded to Neutral from Buy at Longbow with analyst Alton Stump saying his checks indicate second quarter domestic franchised comparables are up 6.25%-6.75%, versus consensus of 7.4%, and recommends investors take a pause on putting new money to work given recent share strength. 3. Nordstrom (JWN) downgraded to Neutral from Buy at Guggenheim with analyst Michael Binetti saying he does not see much further upside potential, even in a leveraged buyout scenario. The analyst believes a going private buyer could only pay $46 per share to generate a 10% internal rate of return. 4. Cantel Medical (CMD) downgraded to Hold from Buy at Benchmark with analyst Raymond Myers saying that he is increasingly concerned that its comparisons become tougher in the next two quarters. 5. Endo (ENDP) downgraded to Hold following Opana ER removal from market at Stifel with analyst Annabel Samimy saying Endo's recovery "just got harder" following the FDA's request for the company to voluntarily remove Opana ER from the market. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/09/17
SBSH
06/09/17
DOWNGRADE
Target $20
SBSH
Neutral
Snap downgraded to Neutral from Buy at Citi
Citi analyst Mark May downgraded Snap to Neutral and cut his price target for the shares to $20 from $24. The camera company closed yesterday down 4% to $18.85. A slower than expected roll-out of new platforms and channels like self-serve is slowing down the pace of monetization growth, May tells investors in a research note. Further, he believes investors "may continue to be wary near term" of the company's user growth, which disappointed in Q1. The analyst adds that the IPO lock-up expiration in August will increase the stock available for sale by over 500% or 949M shares. He believes this could pressure the stock.
06/08/17
OPCO
06/08/17
NO CHANGE
Target $23
OPCO
Outperform
Oppenheimer checks show slower adoption by new advertisers for Snap
Oppenheimer analyst Jason Helfstein says his recent channel checks indicate strong growth in existing advertiser spend for Snap, but slower adoption by new advertisers due to platform-specific video ads, limited 3P data and brand safety concerns for user-generated story ads. As a result, the analyst removed $5M from this Q2 revenue estimate to reflect slower than expected advertiser adoption and added the same amount to his Q4 estimate. He expects all of the new advertiser headwinds to be solved over time. Snap's full roll-out of a self-service ad manager in July should accelerate new advertiser adoption in the second half of 2017, Helfstein tells investors in a research note. He keeps an Outperform rating on the shares with a $23 price target.
06/07/17
NOMU
06/07/17
NO CHANGE
Target $14
NOMU
Reduce
Snap download trends deteriorated thus far in Q2, says Nomura Instinet
An analysis of app download data from SensorTower points to year-over-year deterioration in Snapchat download trends through the first two months of Q2, Nomura Instinet analyst Anthony DiClemente tells investors in an intraday research note titled "Snap Back Unlikely in 2Q." He points out that Facebook's (FB) Instagram downloads grew year-over-year in Q2, which the analyst believes suggests competitive pressures may be intensifying for Snap. For April and May, SensorTower has Snap worldwide downloads down 22%. DiClemente keeps a Reduce rating on the shares with a $14 price target. He lowered his 2017 earnings per share estimate for SNAP to ($3.24) from ($2.68) and revenue estimate to $842M from $953M. These estimates are well below the consensus. Snap in midday trading is down 73c to $19.63.

TODAY'S FREE FLY STORIES

TGS

Transportadora de Gas del Sur SA

$17.48

0.07 (0.40%)

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PAM

Pampa Energia S.A.

$60.93

0.2 (0.33%)

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PRGS

Progress Software

$37.49

0.18 (0.48%)

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PRGS

Progress Software

$37.49

0.18 (0.48%)

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JEC

Jacobs Engineering

$56.76

0.81 (1.45%)

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Aerie Pharmaceuticals

$60.10

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JEC

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$56.76

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AERI

Aerie Pharmaceuticals

$60.10

1.8 (3.09%)

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BNPQY

BNP Paribas

$39.68

0.19 (0.48%)

, AXAHY

AXA

$29.47

0.13 (0.44%)

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Periodicals
BNP weighing tie-up of money-management division with Axa unit, Bloomberg says »

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BNPQY

BNP Paribas

$39.68

0.19 (0.48%)

AXAHY

AXA

$29.47

0.13 (0.44%)

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CHFC

Chemical Financial

$49.32

0.71 (1.46%)

07:45
09/19/17
09/19
07:45
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07:45
Downgrade
Chemical Financial rating change  »

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QSII

Quality Systems

$15.71

-0.14 (-0.88%)

07:45
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Initiation
Quality Systems initiated  »

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N.Y. FX Outlook »

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HOLI

Hollysys

$20.77

0.42 (2.06%)

07:44
09/19/17
09/19
07:44
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07:44
Conference/Events
Hollysys management to meet with Deutsche Bank »

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  • 19

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CYTK

Cytokinetics

$14.25

0.1 (0.71%)

, AMGN

Amgen

$186.47

-1 (-0.53%)

07:44
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Hot Stocks
Cytokinetics doses first patient in Japan in GALACTIC-HF Phase 3 trial »

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CYTK

Cytokinetics

$14.25

0.1 (0.71%)

AMGN

Amgen

$186.47

-1 (-0.53%)

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  • 25

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KORS

Michael Kors

$44.65

-0.27 (-0.60%)

07:43
09/19/17
09/19
07:43
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07:43
Technical Analysis
Technical View: Michael Kors moves higher, analyst action »

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INTC

Intel

07:43
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Periodicals
Intel Capital invested over $1B in AI-focused companies, TechCrunch says »

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  • 23

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PDCO

Patterson Companies

$37.94

-0.59 (-1.53%)

07:43
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Initiation
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BABA

Alibaba

$179.98

3.28 (1.86%)

, BSTI

BEST Inc

07:43
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09/19
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07:43
Syndicate
BEST Inc cuts size of proposed IPO following 'tepid' response, Reuters reports »

Best Inc (BSTI), a…

BABA

Alibaba

$179.98

3.28 (1.86%)

BSTI

BEST Inc

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  • 20

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FOLD

Amicus

$13.67

-0.21 (-1.51%)

07:42
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RAD

Rite Aid

$2.73

0.1 (3.80%)

07:41
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  • 28

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MDGL

Madrigal Pharmaceuticals

$19.80

0.99 (5.26%)

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  • 25

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MDSO

Medidata

$75.85

-0.01 (-0.01%)

07:40
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  • 25

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ABX

Barrick Gold

$16.92

-0.38 (-2.20%)

07:40
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07:40
Conference/Events
Barrick Gold management to meet with Deutsche Bank »

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  • 19

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07:40
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General news
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SFTBF

SoftBank

$78.30

0.3501 (0.45%)

07:39
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Periodicals
SoftBank Ventures Korea looks to invest in promising start-ups, CNBC says »

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MCK

McKesson

$148.42

-1.46 (-0.97%)

07:38
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Initiation
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SUPN

Supernus

$49.65

0.6 (1.22%)

07:37
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Downgrade
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HSIC

Henry Schein

$80.90

-1.98 (-2.39%)

07:37
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Initiation
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