Why Snap Shares Are Continuing to Tumble
That puts Snap below its first day opening price of $24.
On Monday SNAP stock reversed the course of Jumping as it gained 11% on Friday, and fell 12.25% to close at $23.77 on Monday. The average rating on the stock among a poll of six analysts surveyed by FactSet is the equivalent to sell, while the average price target is $16.50, below Snap's IPO price.
As you can see from the image above, Snap's revenue growth rate has been exceptional over the past two years and is expected to stay strong for at least three more years.
"Ultimately, Snap's competition, which includes wide-moat Facebook with almost 2 billion users, is overwhelming, in our view". She estimated the total size of that audience to be about 650 million, compared with the 3.6 billion for each Google and Facebook. "They have no protection".
Last week, Snapchat's parent company was the talk of the town. Laura Martin, an analyst for Needham & Company, warned in a note to clients this week that other companies are stealing Snap's best ideas. According to App Annie metrics, Snapchat users spend 25 percent more time on the app than users on Facebook and Instagram.
Although, it will be quite early to forecast where the company will find itself after five years from now; the business model demonstrates both positive and negative aspects following the stock's recent decline post IPO.
Wieser pointed to a number of "significant risks" that could potentially offset some of Snap's growth opportunities, including competition "from much larger companies", decelerating user growth and the company's unusual stock structure that leaves the vast majority of voting power in the founders' hands.
Now that same Thursday, fresh off the hype of Snap's IPO, the stock shot up 44 percent, bringing the value of one Snap stock to $24.48.
With these reservations around Snap, it is no surprise that some pessimists are calling the IPO the top of the current equity boom market and are warning of a re-run of the dot-com bust of 2000. There are many valuation metrics that investors can use to gauge Snap, and all of them point to a stock that is woefully overvalued.
Most insiders don't ditch their shares at the first opportunity.
"Grow", said Jeff Kagan, an independent industry analyst. "We feel that we are really at the beginning of what are cameras are capable to do, to evolve from being just a piece of hardware with software that connects to the Internet", said CEO of Snap.
"The academic literature suggests poor first-year performance".
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