Truist Securities analyst Youssef Squali feels that Snap is more affected by industry headwinds than Google and Meta due to its smaller size. Given a net loss of $1.14 billion reported in the first nine months of 2022, the road ahead looks challenging for Snap. Given a tough macro backdrop and intense competition, Snap is implementing several cost-cutting initiatives, including reducing its workforce and shutting down expensive projects, like Pixy drone. Daily Active Users (DAUs) grew 19% to 363 million, but ARPU declined 11% to $3.11. This was the first time the growth rate came in at single digits since the company went public in 2017. Snap’s third-quarter revenue increased 6% year-to-year to $1.13 billion. The average Pinterest stock price prediction of $26.47 implies 8.4% upside potential. Overall, the Street is sidelined on PIN stock, with a Hold consensus rating based on four Buys and 14 Holds. Nowak maintained a Hold rating on Pinterest stock and a price target of $18. The analyst is also cautious due to a weaker Q4 outlook and a possible rise in consumer weakness heading into 2023. Morgan Stanley analyst Brian Nowak feels that Pinterest’s stronger-than-anticipated results reflected management’s “early execution towards key initiatives.” However, Nowak lowered his estimates as he feels that the company’s turnaround would take time. Pinterest is focused on enhancing engagement on its platform by creating more relevant experiences for the users and continues to improve its monetization. Also, the average revenue per user (ARPU) increased 11% to $1.56 in Q3. The company’s MAUs declined in the first two quarters of this year. It’s worth noting that the company’s global monthly active users (MAUs) were almost flat year-over-year at 445 million in Q3 but improved from 433 million in Q2. Revenue grew 8% to $685 million, while adjusted EPS declined 61% to $0.11. Investors cheered Pinterest’s Q3 results as the company exceeded analysts’ expectations. Pinterest is an image-sharing social media site that allows users to create virtual pin boards based on their preferences. The average META stock price target of $146.60 implies 28.4% upside potential. ![]() ![]() Meta Platform's stock scores the Street’s Moderate Buy consensus rating based on 26 Buys, 10 Holds, and three Sells. Ripps sees the company’s decision to reduce its workforce and extend the hiring freeze into Q1 2023 as incrementally positive, given persistent macro challenges and the slowdown in digital advertising. Last week, Canaccord analyst Maria Ripps slashed her price target for Meta stock to $170 from $200 to reflect recent multiple compression but maintained a Buy rating. The division continues to work on the company’s metaverse ambitions. The company is also shutting down some of its hardware projects, like Portal and smartwatches, to bring down the losses of its Reality Labs division. With near-term headwinds expected to persist, Meta is taking steps to bring down costs, including the recently announced decision to lay off over 11,000 employees. In Q3 2022, the Reality Labs division’s operating loss increased to $3.67 billion from $2.63 billion in the prior-year quarter. Register for your free account today at, there are concerns about the mounting losses of the Reality Labs division due to the significant investments in metaverse projects and the uncertainty associated with the success of this vision. Data Link's cloud-based technology platform allows you to search, discover and access data and analytics for seamless integration via cloud APIs. ET of the following day.ĭata provided by Nasdaq Data Link, a premier source for financial, economic and alternative datasets. ![]() After Hours trades will be posted from 4:15 p.m.Pre-Market trade data will be posted from 4:15 a.m.will report pre-market and after hours trades. Investors who anticipate trading during these times are strongly advised to use limit orders. Stock prices may also move more quickly in this environment. Participation from Market Makers and ECNs is strictly voluntary and as a result, these sessions may offer less liquidity and inferior prices. ![]() ET) and the After Hours Market (4:00-8:00 p.m. Investors may trade in the Pre-Market (4:00-9:30 a.m.
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