Levi & Korsinsky, LLP Notifies Shareholders of Snap Inc. (NYSE:SNAP) of Commencement of a Class Action Lawsuit and a Lead Plaintiff Deadline of July 17, 2017. The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to discloses that: (1) Snap’s reported user growth was materially false and misleading; and (2) as a result, Snap’s public statements were materially false and misleading at all relevant times.
Snap Inc. (NYSE:SNAP) shares advanced 1.86% to $20.27 on Thursday.
On May 10, 2017, Snap disclosed disappointing user growth in its first quarterly report. For the quarter, Snap reported 166 million daily users, only 8 million more than the previous period and only 44 million more than the same period in the prior year. On this news, shares of Snap fell $4.93 per share or over 21% to close at $18.05 per share on May 11, 2017. On May 16, 2017, Bloomberg reported that a former Snap employee had filed a lawsuit against Snap, “claim[ing] he was fired after three weeks on the job for raising questions about allegedly false growth metrics [and] seeking whistleblower protection against retaliation by [the] company.”
Technical Stock Analysis
Shares outstanding are recorded as 1105.79 billion and total shares floated are 470.88 million. Current ratio which is the relationship between current assets and current liabilities, indicating the liquidity of a business is calculated as 14.30. Company’s distance from 20 day simple moving average is -5.71% and distance from 50-Day simple moving average is -5.33%.
Best time to invest in stock market is when things are on odd side, and it’s not easy how to pick stocks. By reviewing stock prices from the stock market history of the company and examining its analysts ratings can give an investment picture with updated information of stock which helps investors to make investing decision. Stock has got OUTPERFORM rating from 7 analysts of Thomson Reuters, 16 analysts given HOLD rating to the stock and 2 given UNDERPERFORM rating. Analyst’s mean target price for SNAP is $23.48 while analysts mean recommendation is 2.70.
Cisco Systems, Inc. (NASDAQ:CSCO) took the axe to another 1,100 jobs on Wednesday as it revealed that a dent in sales to the US government at the same time as it attempts to become less dependent on hardware sales would eat more deeply into revenues than expected. The US communications equipment maker had already announced plans for 5,500 job cuts last August, the latest in a string of similar annual announcements. The news of another round of job losses marked a renewed attempt to protect profit margins as it tries to grow in newer services and software markets.
On 18 May 2017, Cisco Systems, Inc. (NASDAQ:CSCO) shares moved to $31.38 after starting the day at $31.12. Stock has got OUTPERFORM rating from 10 analysts of Thomson Reuters, 14 analysts given HOLD rating to the stock and 0 given UNDERPERFORM rating. Analyst’s mean target price for CSCO is $35.86 while analysts mean recommendation is 2.20.
At the movement Quorum Health Corporation (NYSE:QHC) is under coverage by number of analysts. Buy rating has been given by 0 analysts to the company stock whereas no analyst given UNDERPERFORM rating to stock and 4 analysts given HOLD rating. The consensus recommendation by Thomson Reuters analysts is Hold and their mean rating for the stock is 3.40 on scale of 1-5. Analysts mean target price for Quorum Health Corporation (NYSE:QHC) is $4.30 while their mean recommendation is 3.20 (1=Buy, 5=sell).
If we look at stock performance in last active day trading, we see that stock has moved advanced 5.88% to end the day at $2.88. The current share price indicate that stock is -78.70% away from its one year high and is moving 7.26% ahead of its 52-week low.