Today's Research Reports on Stocks to Watch: NVIDIA and Snap Inc.

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Accesswire 14-Aug-2017 8:00 AM
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NEW YORK, NY / ACCESSWIRE / August 14, 2017 / Despite robust earnings and beating on both the top and bottom line, traders of NVIDIA were not happy and sent the stock into the red. The stock is up over 46% since the start of the year and had 22% in gains in the last three months leading into the company's earnings report. One analyst wrote to clients to "buy" this dip. Shares of SNAP also dropped on Friday to a new low after reporting disappointing numbers in its recent quarterly report.
RDI Initiates Coverage on:
NVIDIA Corporation https://ub.rdinvesting.com/news/?ticker=NVDA
Snap Inc. https://ub.rdinvesting.com/news/?ticker=SNAP
NVIDIA Corporation's shares closed down 5.33% on Friday with a little over 37 million shares traded. Traders were selling on the company's latest earnings results despite the results being stellar. For the second quarter of its 2018 fiscal year, the company reported a record revenue of $2.23 billion. This is up 56% year over year and came in way ahead of the $1.96 billion expected. EPS at $1.01 after being adjusted was also way higher than the $0.70 that analysts had expected. Even looking ahead the company is optimistic and has called for $2.35 billion in revenue for the third quarter. Analysts were expecting $2.13 billion. Many analysts did not agree with Friday's sell off. According to FactSet, 21 out of 37 analysts actually raised their stock price targets after the results. William Stein at SunTrust Robinson Humphrey raised it to $181 and said, "Buy this dip." He wrote to clients, "We understand the selloff, but take the other side of that trade."
Access RDI's NVIDIA Corporation Research Report at: https://ub.rdinvesting.com/news/?ticker=NVDA
Snap Inc.'s shares closed down 14.09% on Friday and hit a new low of $11.77 during intra-day trading. Volume at nearly 84 million shares traded was significantly higher than the average volume of nearly 25 million shares that the stock has. The parent of SnapChat reported a net loss of $443 million, or 36 cents a share, in the last quarter. This was wider than the loss of 30 cents that the Street was waiting for. The loss was also almost three times as large compared to the year ago quarter. Revenue at $181.6 million was also behind expectations of $186.2 million. Traders didn't seem reassured about the company's future even when CEO pledged that the co-founders of the company would not sell their shares even when they will be allowed to later this year. Despite traders losing confidence, some analysts are still hopeful. RBC Capital Markets noted that it's "way too early" to write the stock off and has an "outperform" rating on it. Stifel also gave the stock a "buy" rating. YTD shares of the stock is down over 50%.
Access RDI's Snap Inc. Research Report at: https://ub.rdinvesting.com/news/?ticker=SNAP
Our Actionable Research on NVIDIA Corporation (NASDAQ: NVDA) and Snap Inc. (NYSE: SNAP) can be downloaded free of charge at Research Driven Investing.
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