Still, there is hope for the future, Boone points out, flagging that "Snap remains the leader in AR, though this is likely years away from significantly impacting financials. Snaps gotten another downgrade, this time from Andrew Boone, analyst at Citizens-owned JMP Securities, from Market Outperform to Hold. Snap may not turn a profit until the lead-up to the 2028 presidential election, according to one analyst. "Importantly, these are Snap's most monetizable surfaces as we expect impression growth to be pressured looking ahead." "We believe short-form video from TikTok, Reels, and YouTube Shorts are taking share of time from Snapchat’s Discover and Stories," Boone wrote on Jan. The new rules could forbid the use of automated software that allows resellers to quickly snap up hundreds of tickets to an event, he said, or ban resellers from advertising tickets they have not. Snap Inc (SNAP) Stock Price & News - Google Finance Home SNAP NYSE Snap Inc Follow Share 10.34 After Hours: 10.36 (0.19) +0. This spiking competition could also affect Snap's monetization opportunities. Time spent on Snapchat fell 7% year-over-year, as of the last quarter of 2022, Boone wrote, signaling that these other platforms are perhaps gaining steam. NYSE:SNAP Snap - SNAP News Today 10.65 +0.55 (+5.45) (As of 12:00 AM ET) Compare Today's Range 10.17 10.70 50-Day Range 8.55 12.21 52-Week Range 7.33 39.80 Volume 24.54 million shs Average Volume 30.49 million shs Market Capitalization 16.84 billion P/E Ratio N/A Dividend Yield N/A Price Target 13. Bearded dragon abandoned during cold snap saved. TikTok, of course, is also a key competitor, and the increasingly crowded market that is beginning to take its toll on Snap. Boone cited increased competition from Alphabet-owned ( GOOG, GOOGL) YouTube and Meta-owned ( META) Instagram, which both have short-form video offerings of their own, respectively Instagram Reels and YouTube Shorts. Snapchat parent Snap ( SNAP) reported its Q2 earnings after the closing bell on Thursday, missing Wall Streets expectations and sending shares plunging 23 in after hours trading.
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