SNAP - Snap Inc.

NYSE - Nasdaq Real Time Price. Currency in USD
19.44
+0.50 (+2.63%)
As of 1:17PM EDT. Market open.
Stock chart is not supported by your current browser
Gain actionable insight from technical analysis on financial instruments, to help optimize your trading strategies
Chart Events
Bullishpattern detected
Commodity Channel Index

Commodity Channel Index

Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close18.94
Open19.00
Bid19.31 x 2200
Ask19.32 x 4000
Day's Range18.72 - 19.47
52 Week Range7.89 - 19.75
Volume22,049,586
Avg. Volume33,367,417
Market Cap28.096B
Beta (5Y Monthly)1.76
PE Ratio (TTM)N/A
EPS (TTM)-0.74
Earnings DateJul 21, 2020 - Jul 27, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est17.41
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Overvalued
Research that delivers an independent perspective, consistent methodology and actionable insight
Related Research
View more
  • Target, Lowe's, among other major companies, respond to protests, call for change
    Yahoo Finance Video

    Target, Lowe's, among other major companies, respond to protests, call for change

    The nation continues to grapple with civil unrest over the killing of George Floyd in police custody. Many leaders across retail, tech and banking are speaking out over the weekend and Monday morning as protests continue. Yahoo Finance's Alexis Christoforous and Emily McCormick share the details.

  • Joe Biden has called for rent forgiveness during the coronavirus pandemic — here’s how that would work
    MarketWatch

    Joe Biden has called for rent forgiveness during the coronavirus pandemic — here’s how that would work

    Progressive activists say mortgages and rent should be cancelled while the coronavirus pandemic slows the economy, but what would that mean for landlords?

  • Snap Could Unveil More Developer Integration At Partner Summit, BofA Says
    Benzinga

    Snap Could Unveil More Developer Integration At Partner Summit, BofA Says

    Snap Inc (NYSE: SNAP) reportedly has plans to allow other companies to build lite versions of their mobile applications within its software.Snap offers an attractive audience for mobile developers, and there is compelling engagement opportunity around gaming, according to BofA Securities.The Snap Analyst Justin Post maintained a Buy rating for Snap and raised the price target from $17 to $20.The Snap Thesis Snap also plans to let developers integrate its camera software and editing tools within their own apps, Post said in a Friday note. (See his track record here.)The analyst expects the company to announce new software tools and platform policies at its Virtual Partner Summit scheduled for June 11. Snap is also likely to introduce some of its early partners at the summit, he said. "We also anticipate announcements on new video and gaming content at the Summit as Snap builds out content availability for its highly engaged audience."Games offer a meaningful opportunity for Snap to increase engagement, given its younger audience and mobile first platform, Post said, adding that the company could generate fees similar to its peers of 20%-30% of in-game revenues.The new price target reflects Snap's faster revenue growth and bigger monetization opportunity, according to BofA. SNAP Price Action Shares of Snap were trading 2.44% higher at $18.70 at the time of publication Friday.Related Links:10 Biggest Price Target Changes For WednesdayTikTok Has Taken Over: Here Are The Big Money Players Behind The Social Media AppLatest Ratings for SNAP DateFirmActionFromTo May 2020CitigroupDowngradesNeutralSell Apr 2020Morgan StanleyMaintainsEqual-Weight Apr 2020RosenblattReiteratesBuy View More Analyst Ratings for SNAP View the Latest Analyst Ratings See more from Benzinga * KeyBanc Bullish On Glu Mobile, Raises Estimates For Mobile Game Maker * Ally Should Recover With Broader Economy, Morgan Stanley Says In Upgrade Note * KeyBanc Upgrades Qualcomm On Potential Benefit From HiSilicon Ban(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Trump executive order to punish social-media platforms is largely toothless, legal experts say
    MarketWatch

    Trump executive order to punish social-media platforms is largely toothless, legal experts say

    President Donald Trump on Thursday signed an executive order ostensibly to prevent online censorship, a broad government review of private companies’ activities with potentially grave consequences for social-media companies.

  • Hedge Funds Dumped Snap Inc. (SNAP) During The Crash
    Insider Monkey

    Hedge Funds Dumped Snap Inc. (SNAP) During The Crash

    The financial regulations require hedge funds and wealthy investors that exceeded the $100 million equity holdings threshold to file a report that shows their positions at the end of every quarter. Even though it isn't the intention, these filings to a certain extent level the playing field for ordinary investors. The latest round of 13F […]

  • SNAP Stock Has Some Fundamental Issues That Should Worry You
    InvestorPlace

    SNAP Stock Has Some Fundamental Issues That Should Worry You

    Snap (NYSE:SNAP) doesn't look bad for a company that often gets lost in the shuffle with Facebook (NASDAQ:FB) and Twitter (NYSE:TWTR) dominating headlines in the social media space. SNAP stock gained close to 11% in value over the last month.Source: Ink Drop / Shutterstock.com After a stellar first-quarter report, SNAP stock recorded a 36.7% gain, its best performance in two years. The social media company is also close to generating positive free cash flow for the first time in its history, something that warrants celebration.However, the numbers also indicate that advertising revenues are slowing down and will stagnate further towards the latter half of the year. The youth-oriented demographic profile of its user base is also a problem, as is the Snap's lack of options to monetize its platform.InvestorPlace - Stock Market News, Stock Advice & Trading TipsAll things considered, Snap is the riskiest stock in the social media space at the moment. Unless it makes strategic changes, the stock will continue to lose value moving forward. A Closer Look at SNAP StockAlthough the first quarter was a good one for Snap, the cracks are there for all to see. * 7 Red-Hot Vaccine Stocks Racing to Develop a Coronavirus Cure In January and February, the company managed to grow revenues by a solid 58%; however, the figure slowed to just 25% in March. This is important because March is when the novel coronavirus crisis started to affect daily lives in the United States, which is Snap's base market. Although things are getting back to normal, it's fair to expect revenues to remain sluggish for the foreseeable future.Advertising will be a crucial area for Snap to look into if the company wants to remain profitable.North America remains the primary market for the company. Its success and failure will largely depend on how it does in that territory. The average revenue per user (ARPU), a key metric for success in the social media marketing space, declined in North American and global regions, as per the latest quarterly results. That's certainly not a heartening sign by any means.The fast pace of growth of 2019 is unsustainable in my eyes. You certainly won't see Snap reporting advertising revenue growth in the high 40s at a time when every company worth its salt is reevaluating its marketing spend. Companies with higher historical ROIs are likely to benefit.In addition, Snap has found it hard to monetize its platform outside of Snapchat Discover -- the app's newsfeed. It won't be easy for the company to convince others that they need to advertise on their platform when other applications offer greater visibility.That's what prompted Citi analyst Jason Bazinet to downgrade the stock. In a note, the analyst mentioned how the market had become "too bullish on both DAU (daily active user) growth and monetization trends," and how these trends may not be sustainable. Snap stock fell 3% in pre-market trading as a result of the downgrade. User Demographics Are a ProblemSnap remains a platform for younger people. The user demographic is heavily skewed towards teens. It's a highly coveted demographic since these users will make up a sizeable chunk of consumers in the future.However, there are two problems here that need to be addressed. Firstly, youth and advertising revenue do not go hand in hand. According to a report released by 5W Public Relations, millennials hit their prime spending years in 2020. With purchasing power of $1.4 trillion, they remain the most coveted "young" demographic among advertisers.The report came out in January, and these projections will take a hit due to Covid-19, but the pandemic has not changed vital facts. Snap users are young, but they haven't hit their prime spending ages. Other platforms like Facebook and Instagram have a slightly older demographic. That means higher spending power.Another problem that the company has to face is the geographic spread of users. North America is the company's chief revenue driver by some margin. Globally, the company has not been able to make its mark.TikTok, a platform that also has a youth-oriented user base, is far more diversified, as an example. It has a massive user base in Southeast Asia, and that will only grow. On the other hand, Snap focuses on high-income countries like the U.S., and while that may not be a bad thing, they are letting go of considerable opportunities in other regions. Significant Insider SalesThere has been significant insider selling of the company's stock over the last 90 days. While that is not reason enough to sell the stock, it indicates where the head honchos of the company feel Snap is going. CEO Evan Spiegel and CTO Robert Murphy sold the most stock during this time.SELL DATE SELL PRICE NAME TYPE START END ROLE SHARES OWNER TYPE LOW HIGH VALUE TOTAL Andersen, Derek S 05/18 05/19 CFO 11,527 D 17.28 17.63 202,095 1,569,829 Gorman, Jeremi S 05/18 05/19 O 61,881 D 17.28 17.64 1,081,472 2,458,203 Grusd, Jared S 05/18 05/19 O 61,560 D 17.28 17.65 1,075,294 2,143,268 Hunter, Jerry James S 05/18 05/19 O 150,968 D 17.29 17.66 2,644,097 2,557,653 O'Sullivan, Michael J S 05/18 05/18 GC 64,293 D 17.75 17.75 1,141,458 1,644,949 Coles, Joanna S 05/13 05/13 D 6,896 D 17.40 17.40 119,990 70,997 Spiegel, Evan S 05/01 05/01 CEO 3,877,100 D 16.80 16.80 65,118,608 60,553,544 Andersen, Derek S 04/16 04/17 CFO 11,785 D 13.13 13.58 158,572 1,581,356 Grusd, Jared S 04/16 04/17 O 62,937 D 13.13 13.50 838,577 2,204,828 Hunter, Jerry James S 04/16 04/17 O 18,977 D 13.13 13.58 254,393 2,708,621 Gorman, Jeremi S 04/16 04/16 O 35,386 D 13.47 13.47 476,639 2,520,084 Morrow, Rebecca S 04/16 04/16 O 7,343 D 13.54 13.54 99,397 258,278 O'Sullivan, Michael J S 04/01 04/01 GC 28,000 D 11.37 11.37 318,360 1,709,242 Grusd, Jared S 03/16 03/18 O 55,795 D 9.00 9.53 522,682 2,267,765 Andersen, Derek S 03/16 03/16 CFO 39,801 D 9.47 9.47 377,059 1,593,141 Gorman, Jeremi S 03/16 03/16 O 42,033 D 9.48 9.48 398,368 2,555,470 Murphy, Robert C. S 03/16 03/16 CT 2,500,000 I 9.31 9.31 23,274,750 88,636,088 Spiegel, Evan S 03/02 03/02 CEO 1,485,521 D 13.96 13.96 20,736,388 64,430,640 Snap's Future Rests in the Hands of Its Co-foundersOne thing to note here is that since Spiegel and Murphy possess the bulk of voting power in the company, shareholders should be aware that there are limits to what they can accomplish.Both are co-founders of the company and have a strong vision regarding how to run operations. If you are dissatisfied, there is little that you or an activist investor can do to pivot the company in a different direction. Last Word on SNAP stockSocial media stocks have bounced back along with the broader markets. The rally is not unexpected, and they will gain further ground in the third and fourth quarters. But Snap is still an outlier in this group. Markets reacted positively to a better than expected earnings report. However, the company's structural issues remain the same.Other companies dominating this space offer higher values. The markets will reflect this sentiment once usage statistics release later in the year.Unless there is a fundamental change in the company's monetization strategy, its not possible to advocate in favor of allocating more capital to this stock.Snap is a sell for me.Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. He has several years of experience in analyzing stocks and was a data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio. Faizan does not directly own the securities mentioned above. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * The Huge Story for 2020 & Beyond That You Aren't Hearing About * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * The 1 Stock All Retirees Must Own The post SNAP Stock Has Some Fundamental Issues That Should Worry You appeared first on InvestorPlace.

  • Snap Breaks Out
    Investor's Business Daily Video

    Snap Breaks Out

    Snapchat parent Snap cleared an 18.56 cup-with-handle buy point, even as Trump targets social media. Trump really seems mad at TWTR, and it's not clear he has the power to do what he wants to do.

  • 3 of the Best Breakout Stocks to Buy Now
    InvestorPlace

    3 of the Best Breakout Stocks to Buy Now

    Stocks suffered a late-day rug pull on Thursday after our Tweeter-in-Chief announced he'd hold a news conference on U.S.-China relations. Uncertainty surrounding what the President will say had traders heading for the exits. The reality is stocks have been on a tear and were due for profit-taking anyways. Despite the weakness, I was able to find many promising breakout stocks to buy.Identifying the quality setups didn't require much detective work. All I had to do was sort my watchlist by percentage change. Scouring the top gainers on the day is an effective method for spotting strength. Two of my three candidates topped the list. The third one was near the top in the morning, but selling late in the session ultimately removed it from the leaderboard. Nonetheless, its chart setup demanded a mention in today's gallery. * 7 Red-Hot Vaccine Stocks Racing to Develop a Coronavirus Cure Here are the three breakout stocks that I'm eyeing:InvestorPlace - Stock Market News, Stock Advice & Trading Tips * Snap Inc (NYSE:SNAP) * Electronic Arts (NASDAQ:EA) * Aurora Cannabis (NYSE:CGC)Recent strength has this trio courting resistance zones, and Thursday's rally suggests a breakout is imminent. Let's look at how you can capitalize. Best Breakout Stocks to Buy: Snap (SNAP)Source: The thinkorswim® platform from TD Ameritrade Investors hit Snap stock hard during the pandemic, but the comeback has been incredible. Buyers have returned as rapidly as they fled. With its 131% gain off the lows, SNAP stock has almost fully recovered from its 60% crash. Last month's earnings report accelerated the comeback by sparking a massive overnight gap.Since then, the price action has been constructive. We've made a few higher pivot lows, and the stock has held to the gains nicely. Thursday saw the stock run 7.35% to close near the high of the day. It's impressive that it stayed afloat despite the profit-taking striking the broader market. With the gains, SNAP stock is now a whisker away from breaking resistance at $18.50.If it does, then a climb to $20 is likely. For a higher potential reward, you could buy the stock. Otherwise, I like selling the July $16 puts for 55 cents. Electronic Arts (EA)Source: The thinkorswim® platform from TD Ameritrade Electronic Arts has been among my breakout stocks for weeks. But it just hasn't been able to gather enough momentum to breach $120 resistance and hold its ground. If the action over the past two trading sessions is any indication, however, it's finally ready. I love Wednesday's nasty shakeout. The downside feint likely suckered in sellers before ripping higher by day's end. Thursday's followthrough was fantastic and had the stock notch its highest closing price since August 2018.Volume patterns are also hinting at this attempt succeeding. The past two sessions saw above-average volume confirm big buyers were on the move.You could buy EA shares for a straight stock play, or use call spreads to cheapen the bet. Buy the July $120/$125 bull call spread for around $2.70. The potential profit is $2.30 and will be captured if EA stock sits above $125 at expiration. Aurora Cannabis (ACB)Source: The thinkorswim® platform from TD Ameritrade After lying dormant for most of the year, cannabis stocks are all of a sudden hot. Strong signs of accumulation are cropping up in not just Aurora, but Tilray (NASDAQ:TLRY) and Canopy Growth (NYSE:CGC) also. Of the three, ACB stock has the most attractive pattern right now.Its May 14 earnings report sparked a massive revival that sent shares up nearly 300% in three days. We've since seen the stock consolidate in a narrow range. The basing is well-deserved after such a moonshot and is helping ACB stock work through overbought pressures. Given its explosive tendencies, it's worth watching for the next breakout.There are multiple short-term resistance levels you can use to trigger, but I like $18. The liquidity in Aurora Cannabis's stock options isn't great, so a straight stock purchase on the breakout is probably best.For a free trial to the best trading community on the planet and Tyler's current home, click here! As of this writing, Tyler didn't hold positions in any of the aforementioned securities. More From InvestorPlace * Top Stock Picker Reveals His Next 1,000% Winner * The Huge Story for 2020 & Beyond That You Aren't Hearing About * Revolutionary Tech Behind 5G Rollout Is Being Pioneered By This 1 Company * The 1 Stock All Retirees Must Own The post 3 of the Best Breakout Stocks to Buy Now appeared first on InvestorPlace.

  • Twitter Has Little to Fear From Trump
    Bloomberg

    Twitter Has Little to Fear From Trump

    (Bloomberg Opinion) -- Donald Trump was at the steering wheel as we drove through the rain together on a New Jersey highway in 2005. He had recently considered taking the stage to play a politician in the Broadway comedy “La Cage aux Folles,” but he had other things on his mind as he glanced over at me.“I have one asset that I think nobody else has. And that’s that if somebody writes about me badly, I sort of own my own newspaper in a way. Like I went after you on the ‘Today’ show,” he told me. “I do have the ability to fight back in the media. I can say that, ‘You, Tim, is not smart. Is a terrible guy.’”“A total whack job,” I suggested, since he’d used that one before.“I can say that. Nobody else can,” Trump continued. “In other words, I’m the only guy who can fight back on an almost even plane. I mean, I’m not saying it’s an even plane because you may have an advantage. But I have an advantage, too. Because I’m on television every day.”He finished off his primer with a flourish: “People don’t want to read about a negative Trump. I really believe that.” Remember, this was 15 years ago and Twitter hadn’t yet been invented. Neither had Instagram or Snapchat. Facebook was still a baby. But Trump already instinctively understood one of his advantages as a ubiquitous and media-soaked mogul: He had direct access to readers and viewers and could circumvent traditional news sources to get his message out or to go into battle.Trump’s gut sensibility about how to play the media had been honed through decades of courting and jousting that, even after a series of failures, had left him as an object of interest. That led to his public rebirth on “The Apprentice” and made him ready to rock and roll once social media blossomed. Every social platform offered him the opportunity to run his own printing press and speak directly to fans and critics, but Twitter, a venue of choice for newsies, always held a special allure. And Trump, who adores basking in media attention while also being so singularly insecure that any form of criticism unspools him, has a love-hate relationship with Twitter.So it came to pass that Twitter, which has long tolerated Trump’s retweeting of racists and anti-Semites while painting his targets as everything from “skanks” to murderers, decided on Tuesday to slap fact-checking notices on a pair of bogus Trump tweets claiming that mail-in ballots lead to voting fraud. Trump, who has the November election front of mind and is reeling from an onslaught of criticism for repeatedly bungling his response to the coronavirus pandemic, would have none of that. He claimed that revenge via a federal crackdown on Twitter and other social media companies was coming.Early Thursday evening, Trump issued an executive order that seeks to strip Twitter and other social media platforms of liability protections they enjoy from lawsuits involving the content users post on their sites — including false or defamatory content. In other words, the kind of stuff Trump posts a lot on Twitter. While such a move might be self-defeating, it’s also not clear how serious Trump is about it. The order is littered with personal jibes at Trump’s enemies and the White House said it might still be revised.Trump is also reportedly planning to ask the Federal Communications Commission to make it easier for social media users to sue platforms for removing posts and other content. He also reportedly plans to ask Attorney General William Barr to convene state attorneys general to investigate social media companies for deceptive practices.“There’s nothing I’d rather do than get rid of my whole Twitter account,” Trump told reporters in the Oval Office on Thursday. “But I’m able to get to, I guess, 186 million people when you add up all the different accounts…. That’s more than the media companies have, frankly, by a lot.”Trump actually has about 130 million followers on his primary personal social accounts (Twitter, Facebook, YouTube and Instagram) and he certainly doesn’t have more followers than all of the media companies combined, but you get the point.We’ll have to wait and see if this turns out to be Trump rattling his saber. He has a long history of threatening to sue critics and competitors and then not following through. (I was an exception.) If he decides to try to enforce the executive order, he, the FCC and his White House lawyers will face daunting legal hurdles. Trump can’t force the FCC to change existing regulations that give social media companies latitude to restrict objectionable content. And even if the FCC acts as he wishes, it may not complete its work prior to the November election, because the social media companies will unleash their own attorneys to challenge any change.The First Amendment’s broad protection for editorial discretion from government dictates applies to social media platforms. In a 2017 federal appeals court fight over net neutrality rules, none other than future Supreme Court Justice Brett Kavanaugh argued that the government cannot tell companies such as Twitter and Facebook what content to post or favor.The mere whiff of a federal crackdown could have a chilling effect on the social platforms, it’s true, but that will happen only if the companies allow it. Some internecine squabbles have already popped up, with Facebook founder Mark Zuckerberg telling Fox News that Twitter made a mistake, because no social media platform should be the “arbiter of truth.” It’s quite possible that Zuckerberg is more worried about Facebook being regulated as a news provider rather than as a technology company, or about the added hard work that would come with adequately policing his own website. But that’s a discussion for another day.None of this is really about free speech or proper regulation of social media, however. It’s about the president’s abuse of his power and his fixation on the politics informing the coming election. Also, his feelings are hurt. He’s acting out. Twitter is one of Trump’s favorite toys, and although he’s momentarily bashing it in frustration, he probably won’t go so far as to break it.Trump won’t undermine Twitter because he’s addicted to it. He revels in mainlining his thoughts into the American conversation and absorbing all the responses back into his own bloodstream. Twitter is Trump’s drug of choice, and addicts don’t break their habits so easily.(This column was updated to include new details from the White House's executive order.)This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Timothy L. O'Brien is a senior columnist for Bloomberg Opinion.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Why Snap Stock Jumped Today
    Motley Fool

    Why Snap Stock Jumped Today

    The Snapchat parent is hosting its annual partner conference next month and may announce a major new strategy.

  • TikTok Owner’s Value Exceeds $100 Billion in Private Markets
    Bloomberg

    TikTok Owner’s Value Exceeds $100 Billion in Private Markets

    (Bloomberg) -- ByteDance Ltd.’s valuation has risen at least a third to more than $100 billion in recent private share transactions, people familiar with the matter said, reflecting expectations the owner of video phenom TikTok will keep pulling in advertisers.Stock in the world’s most valuable startup has changed hands recently at a price that suggests its value has risen more than 33% from about $75 billion during a major round of funding two years ago, the people said, asking not to be identified because the matter isn’t public.Some trades recently valued the Chinese company between $105 billion and $110 billion on the secondary markets, some of people said. It has also traded as high as $140 billion, one person said.The trades are private transactions and may not fully reflect broader investor expectations. Stock in the secondary market is usually valued at a discount to primary shares since it’s less liquid and there are fewer financial details on company performance available to investors.“The trading of ByteDance is reflective of the global wave of consumers who agree that ByteDance can displace Facebook as the leading social network,” said Andrea Walne, a partner at Manhattan Venture Partners who follows the secondary markets.In the past decade, Bytedance is surpassed only by Alibaba Group Holding Ltd. and Ant Financial Services Group as companies that have traded at a higher premium in the secondary market, she added.ByteDance has grown into a potent online force propelled in part by a TikTok short video platform that’s taken U.S. teenagers by storm. Investors are keen to grab a slice of a company that draws some 1.5 billion monthly active users to a family of apps that includes Douyin, TikTok’s Chinese twin, as well as news service Toutiao. That’s despite American lawmakers raising privacy and censorship concerns about its operation. This week, it poached Walt Disney Co. streaming czar Kevin Mayer to become chief executive officer of TikTok.The company was in the very early stages of exploring a share sale abroad last year, people familiar have said. But any float remains a longer-term objective given ByteDance remains well-funded, the people added. ByteDance declined to comment on Wednesday. Its backers include SoftBank Group Corp., General Atlantic and Sequoia.The Chinese startup in the ballpark of the market capitalizations of some of the world’s biggest public companies, ahead of rivals such as Twitter Inc. and Snap Inc. but still behind Facebook Inc. ByteDance -- whose TikTok remains the venue of choice for half a billion lip-syncing, dancing music video aficionados -- is now going head-to-head with Chinese internet leaders from Tencent Holdings Ltd. to Alibaba for user traffic and marketing dollars.It’s also strengthening its operations in newer arenas such as e-commerce and gaming. ByteDance this year kicked off a wave of hiring it envisions hitting 40,000 new jobs in 2020, hoping to match Alibaba’s headcount at a time technology corporations across the globe are furloughing or reducing staff.Longer term, the company will have to grapple with rising scrutiny from Washington. Two prominent senators have urged investigations into TikTok, labeling it a national security threat.Read more: ByteDance Launches Global Hiring Spree With 10,000 New Jobs(Updates with a quote, new details in the fifth paragraph. An earlier version of the story was corrected to reflect executive’s proper title.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Financial Times

    TikTok: byte-sized offer

    TikTok is clever to appoint a Disney character as its new chief executive. US lawmaker concerns about the app’s security have weighed on Chinese parent company ByteDance. Offering the job to Disney’s former head of streaming Kevin Mayer suggests big plans are afoot.

  • Disney Streaming Czar Leaves for TikTok After Missing on CEO Job
    Bloomberg

    Disney Streaming Czar Leaves for TikTok After Missing on CEO Job

    (Bloomberg) -- Kevin Mayer, the architect of Walt Disney Co.’s direct-to-consumer video strategy, is leaving the entertainment giant to join TikTok, three months after getting passed over for the job of chief executive officer.Mayer, 58, will become CEO of the fast-growing Chinese social-media app that’s popular with teens and other young people, starting on June 1. His appointment was announced by ByteDance Ltd., TikTok’s parent, where he will also serve as chief operating officer.The departure, though not unexpected, is a loss for Disney’s streaming effort at a time when other businesses -- including its film studio, theme parks and TV networks -- are bearing the brunt of the coronavirus-related shutdown. Besides leading the company’s online video push, Mayer was the strategist behind numerous Disney deals through the years, such as the acquisitions of Lucasfilm and Marvel.“I just love the mission of TikTok, which is to bring joy and inspiration to people around the world,” Mayer said in an interview. He also said he is looking forward to working with ByteDance founder and CEO Yiming Zhang, whom he called “a great visionary guy.”Disney shares dipped as much as 2.1% on the news in late trading, before recovering.To succeed Mayer, Disney promoted Rebecca Campbell, a 23-year veteran of the company’s TV businesses. She most recently served as president of the Disneyland resort in California, but earlier ran its direct-to-consumer offerings in Europe and the Middle East, as well ABC stations in the U.S.Parks ChiefDisney also named Josh D’Amaro to be the new head of its theme parks and consumer-products division. He succeeds Bob Chapek, who was appointed Disney’s CEO in February. D’Amaro most recently led the Walt Disney World resort in Florida.TikTok has been searching for a new CEO since at least January, aiming to take advantage of the app’s dramatic surge in U.S. popularity, amid scrutiny from U.S. regulators who have targeted the company as a potential security threat.Mayer will report to Zhang, who built TikTok, along with its Chinese version Douyin, into one of the world’s most popular apps, with more than a billion users.TikTok fans share short video clips, some comedic, some based on dancing, usually synced to music. That has made ByteDance the most valuable tech startup in the world, challenging the dominance of U.S. companies like Facebook Inc. and Snap Inc.Mayer joins TikTok as it’s building an entertainment business and seeking to generate advertising dollars from its large user base. The company has been staffing up in Los Angeles with executives from Hollywood and the music industry.Late last year, the company hired Ole Obermann, formerly of Warner Music Group, to run its music operations. Last month, TikTok tapped Nick Tran from Disney’s video service Hulu to become its head of marketing in North America.TikTok is best known for spawning viral videos that have propelled songs such as Lil Nas X’s “Old Town Road” to the top of the Billboard charts, and turned performers such as Charli D’Amelio into teen idols. Though TikTok is a household word among teens, it has been growing its audience of older users, too.Mayer’s most recent focus has been Disney+. The $7-a-month streaming service has signed up more than 54 million users since its debut in November. Mayer said it’s too early to say whether TikTok will compete directly with Disney in the business of creating movies and TV shows.“It’s a different business model,” he said. “And it’s a good one in its own right. I have to start there and do my thing and figure out what the future holds.”Mayer said it wasn’t an easy decision to leave Disney, which he first joined in 1993. He worked for decades with Bob Iger, now the company’s executive chairman, and described the new CEO as “awesome.”“I would never have left ever if I thought it would put the rollout of Disney+ at risk, that’s my baby,” he said. “The team there knows how to do this. We developed a playbook and it works really well.”He also had praise for his replacement, Campbell: “She is a force of nature.”Mayer said he didn’t think his leaving at this time would be an issue for Disney.“Opportunities come when they come,” he said. “ByteDance needed someone for this role, and I felt Disney+ was in good hands.”(Updates with Mayer comments in fourth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • TikTok Raises Profile In Digital Ads, Hires Disney Streaming Boss As CEO
    Investor's Business Daily

    TikTok Raises Profile In Digital Ads, Hires Disney Streaming Boss As CEO

    The surging popularity of video-sharing app TikTok has Wall Street buzzing. In a big move, Tik Tok hired the boss of Walt Disney's video streaming operations as its new chief executive.

  • Benzinga

    P/E Ratio Insights for Snap

    In the current session, Snap Inc. (NYSE: SNAP) is trading at $17.12, after a 1.06% spike. Over the past month, the stock increased by 31.93%, and in the past year, by 53.04%. With performance like this, long-term shareholders optimistic but others are more likely to look into the price-to-earnings ratio to see if the stock might be overvalued.Assuming that all other factors are held constant, this could present itself as an opportunity for shareholders trying to capitalize on the higher share price. The stock is currently below from its 52 week high by 13.34%.The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against its past earnings, historical data and aggregate market data for the industry or the indices, such as S&P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also shows that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future.Depending on the particular phase of a business cycle, some industries will perform better than others.Compared to the aggregate P/E ratio of the 39.56 in the internet content & information industry, Snap has a lower P/E ratio of 0.0. Shareholders might be inclined to think that they might perform worse than its industry peers. It's also possible that the stock is undervalued.Price to earnings ratio is not always a great indicator of the company's performance. Depending on the earnings makeup of a company, investors may not be able to attain key insights from trailing earnings.See more from Benzinga * Morning Market Stats in 5 Minutes * 11 Communication Services Stocks Moving In Wednesday's Pre-Market Session * Afternoon Market Stats in 5 Minutes(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Snap Hires YouTube Alum Francis Roberts as Senior Talent Manager
    Variety

    Snap Hires YouTube Alum Francis Roberts as Senior Talent Manager

    Click here to read the full article. Francis Roberts, previously a manager at YouTube working with some of the platform's biggest creators, has joined Snap as senior manager of digital talent.Roberts starts at the Snapchat parent company Monday, May 18. Based in L.A., he will report to Jim Shepherd, Snap’s head of talent partnerships. Most recently, Roberts was at YouTube, where he was the strategic partner manager for top creators and worked with talent including Liza Koshy, the Try Guys and Jackie Aina.At Snap, Roberts will oversee relationships with digital-native talent. In that role, he also will support content opportunities for creators, such as identifying opportunities to work with them to develop Snap's Creator Shows and Snap Originals, along with community content like Snap Me, in which the platform's stars answer fan questions.“We are thrilled to welcome Francis as a member of our Talent Partnerships team," Shepherd said. "His experience working with top creators and his relationships in the industry will greatly contribute to our mission of delivering even more compelling opportunities to creators on Snapchat in 2020 and beyond.”Roberts joins Snap after spending eight years at Google. At the internet giant, before moving to the YouTube team in 2017, he was principal analytical lead in Google's large-customer sales division. Prior to joining Google in 2012, he was founder and CEO of BE LLC, a New York-based event planning and digital media firm. Before that worked as an analyst at Barclays Capital. Roberts holds a bachelor’s degree in international business with a focus on Asia-Pacific studies from Howard University.

  • In the age of social distancing, the LA Rams turn to Snap and Madden to unveil new uniforms
    TechCrunch

    In the age of social distancing, the LA Rams turn to Snap and Madden to unveil new uniforms

    As the U.S. waits for the great reopening of its hallowed national pastimes in an era of pandemic-enforced social distancing, sports teams are increasingly turning to a new wave of digital tools like social media and video games to connect with a new generation of fans. The Los Angeles Rams are the latest team to embrace the trend, choosing to work with social media giant Snap and EA Sports' Madden NFL franchise to unveil the new design of their uniforms ahead of the opening of the most high-tech stadium in the National Football League later this year. The team is working with Los Angeles' own Snap to unveil the uniforms in a custom-created Snapchat augmented reality lens, featuring the ability to trigger players into action.

  • Why Snap Stock Fell Today
    Motley Fool

    Why Snap Stock Fell Today

    What happened Shares of Snap (NYSE: SNAP) have fallen today, down by 4% as of 1:15 p.m. EDT, after larger rival Facebook (NASDAQ: FB) rolled out "Avatars" in the U.S. Avatars are Facebook's version of Bitmoji that it initially introduced in Australia last summer.

  • Facebook launches Avatars, its Bitmoji competitor, in the US
    TechCrunch

    Facebook launches Avatars, its Bitmoji competitor, in the US

    Facebook's Avatars feature, which lets you customize a virtual lookalike of yourself for use as stickers in comments and Messenger chats, is today launching in the U.S. Essentially Facebook's version of Snap's Bitmoji, Avatars were first introduced last year and have been since made available in Australia, New Zealand, Europe and Canada. Based on early feedback, Facebook is also today expanding its range of Avatar customizations to include a variety of new hairstyles, complexions and outfits. Initially, Facebook users will be able set up their Avatar from either the Facebook or Messenger comment composer.

  • Trump Embraces Snapchat as Battle for 2020 Youth Vote Heats Up
    Bloomberg

    Trump Embraces Snapchat as Battle for 2020 Youth Vote Heats Up

    (Bloomberg) -- The day the U.S. Senate acquitted Donald Trump of impeachment charges, his re-election campaign staff posted a video on Snapchat, where they knew young voters would see it. “Liberals tonight:” it starts. A woman falls to her knees and screams a guttural “NO!!” as newscasters announce Trump’s 2016 presidential win. Then, a spoof cover of Time Magazine shows signs for TRUMP 2028, TRUMP 2032, and so on until a final flourish: “TRUMP 4EVA.”The clip is one of Trump’s most popular Snapchat posts, according to the campaign. It pushes the right social-media buttons, coming across more like an internet meme than a traditional political message. Videos like this have helped Trump’s Snapchat following nearly triple to over 1.5 million in about 8 months, far exceeding rival Joe Biden’s audience on the app. But the former vice president is starting to invest in the app, too: On Wednesday, he’s giving an interview on Snapchat’s political news show, Good Luck America.Snap Inc.’s app, known for ephemeral photo messages and bizarre face filters, is suddenly a hot battleground in the 2020 presidential campaign. Its clout in political conversation is smaller, but millennial and Gen-Z voters make up 35% of the U.S. electorate, and Snapchat reaches 75% of them every day, the company says.America’s first-time voters, in a normal election year, would be registering to vote on college campuses, at the library or their local DMV office. Covid-19 is making that impossible right now, so Snapchat is one of the best ways to get them involved and influence their thinking, political groups say. When a Snapchat user turns 18 in the U.S. -- as up to 500,000 of them do each month -- the company displays a voter registration link on their profiles for their entire birthday week.“Snapchat is the platform that can fill all the institutional gaps in reaching young people,” said Mike Ward, the program director of voter engagement at Democracy Works, a nonprofit that uses technology to make voting easier. “They are uniquely positioned to be the most powerful youth voter registration force in the country.” In the 2018 U.S. midterm elections, Snapchat accounted for 30% of traffic to a Democracy Works website that showed people their nearest polling place.Voter registration has cratered in the midst of the pandemic, according to a recent report by TargetSmart Communications LLC, a Democratic data and strategy firm. But younger voters may be motivated to weigh in on who should be leading the national response, as well as address the economic downturn, according to Tom Bonier, chief executive officer of TargetSmart.States are putting alternative voting methods in place that are being applied unevenly, leaving experts with little insight into voter turnout this fall. Younger voters are unaccustomed to voting by mail, so digital outreach to this group is more important than ever, Bonier said.TikTok, the Chinese-owned short video platform that’s popular with American youth, has mostly stayed out of politics while Snapchat has leaned in. Snap has a dedicated staff offering training to candidates and governments, working closely with campaigns’ digital teams.Snapchat befuddles older generations, so it’s not as effective for amassing political donations. The biggest benefit, according to the Trump campaign, is the chance to reach the app’s general audience. On Twitter and Facebook, the campaign depends on users sharing political messages to reach more people. On Snapchat, if they post popular content frequently enough, it will appear on the Discover page where many of the app’s 229 million daily users go to watch videos and other content.Democrats Andrew Yang and Pete Buttigieg both posted frequently enough to make the Discover page during the recent presidential primary election. Buttigieg made 15-second selfie videos specifically for Snapchat before walking on stage during rallies.The Biden campaign hasn’t invested as much in digital strategy, choosing instead to prioritize traditional media. For one debate, his granddaughters took over his Snapchat account to reach young voters. But he rarely speaks on the app himself, and he has been slower to hire for his digital team. He faces a formidable Trump digital staff of about 100 people. Trump is holding virtual rallies, gathering email addresses and building outreach lists through digital video and advertising.Read more: Biden Digital Game Outmatched by Trump as Campaign Goes VirtualIt’s not just Snapchat where Biden lags. He has just over 5 million followers on Twitter, compared to Trump’s 80 million. On Instagram, Biden has 2 million followers. Trump has 19.6 million.Biden is trying to change this. The campaign just announced three digital hires from the campaigns of Elizabeth Warren, Beto O’Rourke and Kamala Harris. It plans to double digital staff to about 50 to help counter Trump’s divisive messaging with optimistic content that has the potential to go viral, according to the campaign.“If we want to have any chance of mobilizing young voters in November, that work has to start now,” said Stefan Smith, Buttigieg’s former online engagement director. “Trump winning the election may not come down to Snapchat, but the fact that the Trump campaign is maximizing on every single social media platform is cause for concern.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • 3 Top Tech Stocks to Buy in May
    Motley Fool

    3 Top Tech Stocks to Buy in May

    All three companies have coronavirus-resistant business models and are set to outperform the market over the long term.