Indexes: Index quotes may be real-time or delayed as per exchange requirements refer to time stamps for information on any delays. Copyright 2019© FactSet Research Systems Inc. Fundamental company data and analyst estimates provided by FactSet. International stock quotes are delayed as per exchange requirements. stock quotes reflect trades reported through Nasdaq only comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. He also trimmed his price target to $9.0 a share that doesn’t represent a meaningful upside from here.Stocks: Real-time U.S. We remain side-lined on the view that this is a largely upper-funnel platform offering structurally lower conversions levels leading to share loss, barring a fuller macro rebound. Still, RBC Capital Markets analyst Brad Erickson reiterated his “neutral” rating on Snap stock today and said: Snap attributed the weakness in the recent quarter to changes it made to its ad platform that it agreed are disruptive for now but will eventually help increase click-through conversions in the future. Average revenue per user of $2.58 also missed expectations.Global DAUs climbed to 383 million – a million below estimates.Consensus was a penny per share loss on $1 billion in revenue.Revenue slipped 7.0% year-on-year to $988.6 million.Earned a penny per share on an adjusted basis in Q1.Per-share loss narrowed marginally from 22 cents to 21 cents.

Lost $328.7 million versus the year-ago $359.6 million.For the year, Snap stock is down 4.0% at writing.

Last week, the social media company launched a series of AI products. Snap now sees between $1.0 billion to $1.09 billion in revenue in its current quarter – slightly below the Street estimates and suggesting another 6.0% year-on-year hit to revenue, as per its letter to shareholders.

The stock is under pressure because the company’s internal forecast couldn’t cheer the shareholders either. Snap Inc ( NYSE: SNAP) opened nearly 20% down on Friday after reporting a decline in revenue for it first financial quarter.

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