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SNAP

Snap

$18.17

0.625 (3.56%)

12:02
06/19/17
06/19
12:02
06/19/17
12:02

Technical View: Snap trades up off recent lows

Shares were last at $17.90, up over 2% on the day. At that price next resistance is at $18.85. Support is at $17.54.

  • 28

    Jun

  • 19

    Jul

SNAP Snap
$18.17

0.625 (3.56%)

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.
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.
06/09/17
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.
06/09/17
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.

TODAY'S FREE FLY STORIES

RGA

Reinsurance Group

$126.86

-0.36 (-0.28%)

04:55
06/28/17
06/28
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04:55
Conference/Events
Reinsurance Group management to meet with JPMorgan »

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  • 28

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SRCL

Stericycle

$77.24

-1.01 (-1.29%)

04:55
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06/28
04:55
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Stericycle management to meet with Barrington »

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  • 28

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THO

Thor Industries

$107.33

-1.47 (-1.35%)

04:55
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06/28
04:55
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Thor Industries management to meet with Cancaccord »

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  • 28

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    Jul

IDCC

InterDigital

$79.80

-0.65 (-0.81%)

04:55
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04:55
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Conference/Events
InterDigital management to meet with Sidoti »

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  • 28

    Jun

NP

Neenah Paper

$77.80

-1.6 (-2.02%)

04:55
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06/28
04:55
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Conference/Events
Neenah Paper management to meet with Sidoti »

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  • 28

    Jun

AGCO

AGCO

$66.47

-0.67 (-1.00%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
AGCO management to meet with William Blair »

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03/08/13
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03/06/13
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  • 28

    Jun

  • 10

    Aug

04:55
06/28/17
06/28
04:55
06/28/17
04:55
General news
Pending Home Sales Index to be reported at 10:00 »

May Pending Home Sales…

PRTS

U.S. Auto Parts

$3.23

-0.02 (-0.62%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
U.S. Auto Parts management to meet with Roth Capital »

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03/08/13
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03/06/13
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03/06/13
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  • 28

    Jun

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
JPMorgan life sciences analyst holds an analyst/industry conference call »

Life Science Tools &…

STE

STERIS

$81.47

-1.64 (-1.97%)

04:55
06/28/17
06/28
04:55
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04:55
Conference/Events
STERIS management to meet with Sidoti »

Meetings to be held in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 28

    Jun

VTR

Ventas

$71.17

-0.76 (-1.06%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Ventas management to meet with Raymond James »

Meetings to be held in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 28

    Jun

  • 29

    Jun

SMTC

Semtech

$34.85

-0.6 (-1.69%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Semtech management to meet with Oppenheimer »

Meetings to be held in…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 28

    Jun

  • 29

    Jun

IVZ

Invesco

$34.77

-0.24 (-0.69%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Invesco management to meet with Jefferies »

Meetings to be held in…

03/08/13
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03/08/13
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03/06/13
Citigroup
03/06/13
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  • 28

    Jun

  • 29

    Jun

DHXM

DHX Media

$4.30

0.15 (3.61%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
DHX Media management to meet with Jefferies »

Meeting to be held in…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 28

    Jun

04:55
06/28/17
06/28
04:55
06/28/17
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General news
International Trade in Goods Balance to be reported at 08:30 »

May International Trade…

PODD

Insulet

$49.00

-1.22 (-2.43%)

04:55
06/28/17
06/28
04:55
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04:55
Conference/Events
Insulet participates in a conference call with Leerink »

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  • 28

    Jun

NFG

National Fuel

$55.85

-0.45 (-0.80%)

04:55
06/28/17
06/28
04:55
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04:55
Conference/Events
National Fuel management to meet with Jefferies »

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  • 28

    Jun

OXY

Occidental Petroleum

$59.63

-0.38 (-0.63%)

04:55
06/28/17
06/28
04:55
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Conference/Events
Occidental Petroleum management to meet with Evercore ISI »

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  • 28

    Jun

04:55
06/28/17
06/28
04:55
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General news
Breaking General news story  »

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NBIX

Neurocrine

$45.56

-1.75 (-3.70%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Neurocrine management to meet with Oppenheimer »

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03/06/13
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03/06/13
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  • 28

    Jun

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    Jun

  • 29

    Jun

LPI

Laredo Petroleum

$10.03

0.24 (2.45%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Laredo Petroleum management to meet with Piper Jaffray »

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03/06/13
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03/06/13
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  • 28

    Jun

MPWR

Monolithic Power

$96.84

-2.67 (-2.68%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Monolithic Power management to meet with Oppeneimer »

Meetings to be held in…

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03/08/13
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03/06/13
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03/06/13
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  • 28

    Jun

TRS

TriMas

$20.60

-0.1 (-0.48%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
TriMas management to meet with Barrington »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
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03/06/13
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  • 28

    Jun

ORCL

Oracle

$50.75

-0.11 (-0.22%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
Oracle management to meet with Evercore ISI »

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03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
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  • 28

    Jun

UNFI

United Natural Foods

$34.95

-0.08 (-0.23%)

04:55
06/28/17
06/28
04:55
06/28/17
04:55
Conference/Events
United Natural Foods management to meet with Oppenheimer »

Meeting to be held in…

03/08/13
Wedge Partners
03/08/13
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03/06/13
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03/06/13
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  • 28

    Jun

  • 13

    Jul

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