Snapchat (SNAP, $57.28) reaches 500 million monthly active users
Photo-sharing app Snapchat reached 500 million monthly active users, parent Snap announced. Also, Poshmark is partnering with Snap to launch Poshmark Mini, which will be available to Snapchat users in the U.S. in three different ways: Shop Virtual Posh Parties, Shop Poshmark’s Entire Catalogue, and Shop Top-Selling Brands.
Chief Executive Evan Spiegel said that around 40% of the Snapchat user base is now located outside North America and Europe. "[Nearly] one of every two smartphone users in the U.S. is on Snapchat," Spiegel said.
Snapchat launched series of augmented reality tools, including Scan, which allows Snapchatters to match what is seen through the camera to relevant AR experiences on Snapchat.
The company also announced that it would launch a new app called Story Studio, which has video-editing tools.
SNAP's RSI Oscillator is staying in oversold zone for 2 days
It is expected that a price bounce should occur soon.
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Notable companies
The most notable companies in this group are Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL), Meta Platforms (NASDAQ:META), Spotify Technology SA (NYSE:SPOT), Baidu (NASDAQ:BIDU), Pinterest (NYSE:PINS), Tencent Music Entertainment Group (NYSE:TME), Snap (NYSE:SNAP), Twilio (NYSE:TWLO), Zillow Group (NASDAQ:Z).
Industry description
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.
Market Cap
The average market capitalization across the Internet Software/Services Industry is 60.93B. The market cap for tickers in the group ranges from 1.11K to 1.94T. GOOGL holds the highest valuation in this group at 1.94T. The lowest valued company is MSEZ at 1.11K.
High and low price notable news
The average weekly price growth across all stocks in the Internet Software/Services Industry was -1%. For the same Industry, the average monthly price growth was -0%, and the average quarterly price growth was 2%. TRFE experienced the highest price growth at 53%, while QQQFF experienced the biggest fall at -58%.
Volume
The average weekly volume growth across all stocks in the Internet Software/Services Industry was 15%. For the same stocks of the Industry, the average monthly volume growth was 9% and the average quarterly volume growth was -8%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 45
P/E Growth Rating: 72
Price Growth Rating: 59
SMR Rating: 84
Profit Risk Rating: 92
Seasonality Score: -6 (-100 ... +100)