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Snap's Q1 earnings match estimates while revenues rise year over year, benefiting from steady user engagement and efforts toward ad revenue generation.
U.S. equities dropped at midday after the Commerce Department reported first-quarter gross domestic product (GDP) declined 0.3%. The S&P 500 and Nasdaq were down about 1%, and the Dow Jones Industrial Average was lower as well.
Snap (SNAP) didn't issue guidance for the upcoming quarter, warning of macroeconomic conditions weighing on digital ad spending. eMarketer vice president and principal analyst Jasmine Enberg joins Catalysts with Madison Mills and Freedom Capital Markets chief global strategist Jay Woods to take a closer look at what Snap signals about the digital ad space at large and what it means for other players like Meta Platforms (META) and Pinterest (PINS).
Snap shares fell after the social media company withheld second-quarter guidance amid an uncertain macroeconomic environment that could hit advertising. Despite the lack of guidance, the social media company grew revenues from a year ago and reported a narrower loss.
Earnings are dominating the spotlight today, but two names are standing out from the pack.
Earnings are dominating the spotlight today, but two names are standing out from the pack.
Snap shares tumbled more than 15% in premarket trading on Wednesday after the social media company held back its forecast, stoking fears that advertisers were cutting their spending due to tariff-led economic uncertainty.
U.S. stock futures were mixed this morning, with the Dow futures gaining around 0.1% on Wednesday.
Snap Inc. presents a significant asymmetrical investment opportunity with limited downside risk and substantial upside potential, potentially doubling to $18 within 12 months. Despite past poor performance, Snap's valuation is now exceptionally cheap, trading at around 17 times forward EPS with a PEG ratio of 0.38. Snap's DAUs and profitability are growing, suggesting the market is severely mispricing the stock, offering serious multi-bagger potential.
Snap fell 14% after it reported first-quarter earnings and said it wasn't sharing second-quarter guidance. Trade restrictions and changes to the de minimis exception are hurting Snap.