The scores are based on the trading styles of Value, Growth, and Momentum. It allows the user to better focus on the stocks that are the best fit for his or her personal trading style. Shares have tanked by a whopping 75.The Style Scores are a complementary set of indicators to use alongside the Zacks Rank. The average SNAP stock price target of $10.62 suggests a possible downside of 5.9% from current levels. Overall, the Hold consensus rating for Snap stock is based on seven Buys, 19 Holds, and two Sells. Squali kept his Hold rating on Snap stack but lowered his price target to $10 from $12. However, this would take time to materialize. That said, Squali believes that increased adoption of products like Spotlight, Map, and augmented reality or virtual reality should help drive monetization and thus re-accelerate growth. Truist Securities analyst Youssef Squali feels that Snap is more affected by industry headwinds than Google and Meta due to its smaller size. Given a net loss of $1.14 billion reported in the first nine months of 2022, the road ahead looks challenging for Snap. ![]() Given a tough macro backdrop and intense competition, Snap is implementing several cost-cutting initiatives, including reducing its workforce and shutting down expensive projects, like Pixy drone. Daily Active Users (DAUs) grew 19% to 363 million, but ARPU declined 11% to $3.11. This was the first time the growth rate came in at single digits since the company went public in 2017. Snap’s third-quarter revenue increased 6% year-to-year to $1.13 billion. ![]() The average Pinterest stock price prediction of $26.47 implies 8.4% upside potential. Overall, the Street is sidelined on PIN stock, with a Hold consensus rating based on four Buys and 14 Holds. Nowak maintained a Hold rating on Pinterest stock and a price target of $18. The analyst is also cautious due to a weaker Q4 outlook and a possible rise in consumer weakness heading into 2023. Morgan Stanley analyst Brian Nowak feels that Pinterest’s stronger-than-anticipated results reflected management’s “early execution towards key initiatives.” However, Nowak lowered his estimates as he feels that the company’s turnaround would take time. Pinterest is focused on enhancing engagement on its platform by creating more relevant experiences for the users and continues to improve its monetization. Also, the average revenue per user (ARPU) increased 11% to $1.56 in Q3. The company’s MAUs declined in the first two quarters of this year. It’s worth noting that the company’s global monthly active users (MAUs) were almost flat year-over-year at 445 million in Q3 but improved from 433 million in Q2. Revenue grew 8% to $685 million, while adjusted EPS declined 61% to $0.11. Investors cheered Pinterest’s Q3 results as the company exceeded analysts’ expectations. Pinterest is an image-sharing social media site that allows users to create virtual pin boards based on their preferences. The average META stock price target of $146.60 implies 28.4% upside potential. Meta Platform's stock scores the Street’s Moderate Buy consensus rating based on 26 Buys, 10 Holds, and three Sells. Ripps sees the company’s decision to reduce its workforce and extend the hiring freeze into Q1 2023 as incrementally positive, given persistent macro challenges and the slowdown in digital advertising. Last week, Canaccord analyst Maria Ripps slashed her price target for Meta stock to $170 from $200 to reflect recent multiple compression but maintained a Buy rating. The division continues to work on the company’s metaverse ambitions. The company is also shutting down some of its hardware projects, like Portal and smartwatches, to bring down the losses of its Reality Labs division. With near-term headwinds expected to persist, Meta is taking steps to bring down costs, including the recently announced decision to lay off over 11,000 employees. ![]() ![]() In Q3 2022, the Reality Labs division’s operating loss increased to $3.67 billion from $2.63 billion in the prior-year quarter. Additionally, there are concerns about the mounting losses of the Reality Labs division due to the significant investments in metaverse projects and the uncertainty associated with the success of this vision.
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