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Snap (SNAP, $75.12) shares fell -23%, on change in Apple's ad tracking rule
Shares of Snap plunged -23% during after-hours trading Thursday, after the social media company said its ad business was hurt by changes in Apple’s ad tracking rules.
“Our advertising business was disrupted by changes to iOS ad tracking that were broadly rolled out by Apple in June and July,” Snap said in a statement. “While we anticipated some degree of business disruption, the new Apple-provided measurement solution did not scale as we had expected, making it more difficult for our ad partners to measure and manage their ad campaigns for iOS.”
Snap incurred a loss of -5 cents a share in the latest quarter, vs. a loss of -14 cents a share in the same period a year ago. Analysts expected a loss of -10 cents a share.
Revenue rose + 57% from the year-ago quarter to $1.07 billion, but fell short of analysts’ expectations of $1.1 billion.
For the fourth quarter, the company is expecting sales in the range of $1.165 billion to $1.205 billion below Street forecast of $1.36 billion.
SNAP's Stochastic Oscillator is sitting in oversold zone for 1 day
Be on the lookout for a price bounce soon.
Current price $14.79 crossed the support line at $60.76 and is trading between $60.76 support and $6.26 resistance lines. Throughout the month of 04/26/22 - 05/26/22, the price experienced a -48% Downtrend. During the week of 05/19/22 - 05/26/22, the stock fell -36%.
The RSI Indicator demonstrates that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.
Following a +15.79% 3-day Advance, the price is estimated to grow further. Considering data from situations where SNAP advanced for three days, in 237 of 296 cases, the price rose further within the following month. The odds of a continued upward trend are 80%.
SNAP may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Moving Average Convergence Divergence Histogram (MACD) for SNAP turned negative on May 24, 2022. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 40 similar instances when the indicator turned negative. In 32 of the 40 cases the stock turned lower in the days that followed. This puts the odds of success at 80%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SNAP declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 80%.
The Aroon Indicator for SNAP entered a downward trend on May 26, 2022. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Tickeron has a positive outlook on this ticker and predicts a further increase by more than 4.00% within the next month with a likelihood of 80%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.22.
The Tickeron Valuation Rating of 87 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (6.803) is normal, around the industry mean (17.595). P/E Ratio (0.000) is within average values for comparable stocks, (52.224). Projected Growth (PEG Ratio) (4.768) is also within normal values, averaging (4.148). Dividend Yield (0.000) settles around the average of (0.021) among similar stocks. P/S Ratio (5.333) is also within normal values, averaging (99.335).
The Tickeron Price Growth Rating for this company is 97 (best 1 - 100 worst), indicating slightly worse than average price growth. SNAP’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is 97 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron PE Growth Rating for this company is 100 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SNAP’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 92, placing this stock worse than average.
Companies in this industry typically license software on a subscription basis and it is centrally hosted. Such products usually go by the names web-based software, on-demand software and hosted software. Cloud computing has emerged as a major force in this space, making it possible to save files to a remote database (without requiring them to be saved on local storage device); as long as a device has access to the web, it can access the data and the software programs to run it. This has in many cases facilitated cost efficiency, speed and security of data for businesses and consumers. Alphabet Inc., Facebook, Inc. and Yahoo! Inc. are some well-known names in the internet software/services industry.
The average market capitalization across the Internet Software/Services Industry is 35.2B. The market cap for tickers in the group ranges from 1.1K to 1.4T. GOOGL holds the highest valuation in this group at 1.4T. The lowest valued company is MSEZ at 1.1K.
The average weekly price growth across all stocks in the Internet Software/Services Industry was -1.97%. For the same Industry, the average monthly price growth was -12.24%, and the average quarterly price growth was -19.24%. SPFYF experienced the highest price growth at 63.28%, while ELRE experienced the biggest fall at -76.45%.
- 5/18/22 5:18 AM: Snap (SNAP, $24.54) was a top weekly gainer, with a +7.21% jump
- 4/15/22 4:35 AM: Snap (SNAP, $33.19) was a top loser this week, declining -8.44%
- 3/25/22 6:10 AM: Snap (SNAP, $37.05) was a top weekly gainer, with a +9.07% jump
The average weekly volume growth across all stocks in the Internet Software/Services Industry was 44.42%. For the same stocks of the Industry, the average monthly volume growth was -8.81% and the average quarterly volume growth was 197.23%
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Stocks in the group have a Positive Outlook today, backed by the 15 Indicator. Tickeron has a positive outlook on this group and predicts a further increase by more than 4.00% within the next month with a likelihood of 42%. During the last month, the daily ratio of advancing to declining volumes was 1 to 1.1.
47 stocks in the group of tickers confirmed the positive outlook based on the Stochastic indicator with average odds of 80%.
The most notable companies in this group are Alphabet (NASDAQ:GOOGL), Alphabet (NASDAQ:GOOG), Meta Platforms (NASDAQ:FB), Baidu (NASDAQ:BIDU), Twitter (NYSE:TWTR), Snap (NYSE:SNAP), Spotify Technology SA (NYSE:SPOT), Twilio (NYSE:TWLO), Pinterest (NYSE:PINS), Zillow Group (NASDAQ:Z).
The average market capitalization across the group is 48.3B. The market cap for tickers in the group ranges from 64K to 1.4T. GOOGL holds the highest valuation in this group at 1.4T. The lowest valued company is CHNO at 64K.
- 5/21/22 6:31 AM: Alphabet (GOOG, $2,186.26) saw a $97.6B market cap decrease this week
- 5/21/22 6:30 AM: Alphabet (GOOGL, $2,178.16) saw a $91.5B market cap decrease this week
- 5/19/22 8:24 AM: Alphabet (GOOG, $2,248.02), market cap dropped by $60.1B
The average weekly price growth across all stocks in the group was 1.27%. For the same group, the average monthly price growth was -8.76%, and the average quarterly price growth was -19.22%. CRTD experienced the highest price growth at 67.96%, while BTIM experienced the biggest fall at -46.09%.
- 5/25/22 7:32 AM: Meta Platforms (FB, $181.28) was a top loser this week, declining -10.53%. Expect a Downtrend reversal
- 5/25/22 7:32 AM: iQIYI (IQ, $3.41) was a top loser this week, declining -7.34%
- 5/25/22 7:32 AM: Genius Sports (GENI, $2.71) is a top weekly loser for penny stocks, falling -15.05%
The average weekly volume growth across all stocks in the group was 431.85%. For the same stocks of the group, the average monthly volume growth was 217.94% and the average quarterly volume growth was 462.24%
- 5/25/22 7:27 AM: The volume for AutoWeb stock increased for a consecutive 5 days, with an average daily gain of 442%
- 5/24/22 6:55 AM: The volume for AutoWeb stock increased for four consecutive days, resulting in a record-breaking daily growth of 529% of the 65-Day Volume Moving Average
- 5/21/22 6:24 AM: The volume for Beachbody Company (The) stock increased for one day, resulting in a record-breaking daily growth of 246% of the 65-Day Volume Moving Average
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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