Snap Surprisingly Reported Better-than-Expected 4Q Results; Raising FVE to $16; Shares Fairly Valued
Snap finally reported a strong quarter as a public company as revenue and the operating loss for the quarter beat both our internal estimate and consensus. While the firm’s daily average user count grew at only a single-digit rate sequentially, it was somewhat of an improvement from last quarter. Plus, Snap demonstrated its ability to further monetize its users, although we note that fourth quarter is usually a seasonally stronger quarter. With some improvement in user growth and further automat...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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