Today’s Research Reports on Trending Tickers: Facebook and Snap

NEW YORK, NY / ACCESSWIRE / April 27, 2018 / U.S. markets rallied sharply Thursday on the strength of corporate earnings. The tech sector was amongst the top gainers as Facebook posted earnings that topped expectations. The Dow Jones Industrial Average jumped 0.99 percent to close at 24,322.34, while the S&P 500 Index rose 1.04 percent to close at 2,666.94. The tech-heavy Nasdaq Composite Index spiked 1.64 percent to close at 7,118.68.

“Investors have been concerned that the events over the past month and a half would impair Facebook’s growth and user adoption, but that’s clearly not the case,” said Paul Nolte, portfolio manager at Kingsview Asset Management, according to CNBC.

“Tech has been the leading sector of the market for years, and while it took a back seat over the past few weeks, it is now reasserting its leadership and the market is following. While I’m not comfortable with market valuations overall, tech still looks relatively inexpensive.”

RDI Initiates Coverage on:

Facebook, Inc.
https://rdinvesting.com/news/?ticker=FB

Snap Inc.
https://rdinvesting.com/news/?ticker=SNAP

Facebook’s stock jumped 9.06% Thursday, to close the day at $174.16. The stock recorded a trading volume of 73,895,055 shares, which was above its three months average volume of 37,013,795 shares. In the last year, Facebook’s shares have traded in a range of 144.42 – 195.32. The share price has gained 20.59% from its 52 week low. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $166.89 is below its 200-day moving average of $176.31. Shares of the company are trading at a Price to Earnings ratio of 32.31. Shares of Facebook have gained roughly 8.81 percent in the past month and are down 1.3 percent year-to-date.

Access RDI’s Facebook, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=FB

On Thursday, shares of Snap recorded a trading volume of 22,736,751 shares, which was below the three months average volume of 28,592,593 shares. The stock ended the day 1.1% higher at $14.70. The share price has fallen 37.63% from its 52 week high with a 52 week trading range of 11.28 – 23.57. The company’s shares are currently trading below their 200-day moving average. The stock’s 50-day moving average of $15.68 is above its 200-day moving average of $15.32. Shares of Snap have fallen roughly 9.54 percent in the past month and are up 0.62 percent year-to-date.

Access RDI’s Snap Inc. Research Report at:
https://rdinvesting.com/news/?ticker=SNAP

Our Actionable Research on Facebook, Inc. (NASDAQ :FB) and Snap Inc. (NYSE :SNAP) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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