Justin Patterson

Meta Platforms Inc. (NASDAQ: META) held its Meta Connect 2022 on Tuesday where it showed off its metaverse product slate, announced additional partnerships and also released its next-gen Quest Pro headset. What Happened: Following the event, KeyBanc Capital Markets analyst Justin Patterson...

Spotify Technology SA (NYSE: SPOT) launched audiobooks in the U.S. last week. What Happened: Commenting on the development, KeyBanc Capital Markets analyst Justin Patterson reiterated an Overweight rating and a $148 price target for Spotify shares. Audiobooks could be immaterial to Spotify’s...

Engagement trends for social media platforms improved sequentially in the third quarter, KeyBanc Capital Markets said, citing its quarterly consumer survey. Pinterest Inc. (NYSE: PINS) and TikTok, however, were the only platforms to see year-over-year growth as well, the firm said. Impressed With...

Snap Inc (NYSE: SNAP) shares traded higher by 15% on Wednesday after the social media giant disclosed in a new filing that it will be restructuring its business and laying off 20% of its staff. Snap CEO Evan Spiegel told employees via a memo on Tuesday that the company needs to restructure its...

Trade Desk Inc. (NASDAQ: TTD) reported its second-quarter revenues ahead of expectations and guided to upbeat sales in the third quarter. Needham On Trade Desk Analyst Laura Martin maintained a Buy rating while raising the price target from $55 to $65. Trade Desk reported quarterly revenues of $377...

Here is what analysts are saying about digital advertising company PubMatic Inc. (NASDAQ: PUBM), which just reported second-quarter financial results, and beat consensus earnings per share and revenue estimates. The PUBM Analysts RBC Capital analyst Matthew Swanson has an Outperform rating and a...

Match Group Inc (NASDAQ: MTCH) shares dropped 17% on Wednesday after the online dating company reported disappointing second-quarter revenue and issued lackluster guidance. On Tuesday, Match reported a second-quarter EPS loss of 11 cents, well short of the 53-cent profit analysts had expected....

Pinterest reported second-quarter financial results after the close Monday and saw shares jump on the report and guidance that calls for mid-single digit year-over-year growth for the third quarter. Here’s what analysts had to say about earnings and new CEO Bill Ready. The Pinterest Analysts...

Analysts are sizing up Wednesday's second-quarter earnings report from Meta Platforms that cited weaker advertising spending and several macro headwinds for the social media platform. Could growth of Reels be enough to offset revenue declines?  The Meta Platforms Analysts: RBC...

Meta Platforms, Inc. (NASDAQ: META) reported late Wednesday below-consensus second-quarter results and issued downbeat revenue guidance for the running quarter. The stock reacted with a 4.65% downward move in after-hours trading. The Meta Analyst: KeyBanc Capital Markets analyst Justin Patterson...

Google-parent Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG) reported quarterly revenue at $69.7 billion, up 13% year-over-year but short of Street expectations of $69.88 billion. The company’s profits fell to $16 billion, or $1.21 per share, below the consensus estimate of $1.29 per share....

As social-media stocks gear up to release their quarterly reports over the week and the next, an analyst at KeyBanc Capital Markets lowered his estimates and price targets for the big players in the space. The Analyst: Justin Patterson reduced the price target for Alphabet, Inc. (NASDAQ: GOOGL) (...

Snap Inc (NYSE: SNAP) shares traded lower by 38% on Friday after the company disappointed Wall Street with its second-quarter numbers. On Thursday, Snap reported a second-quarter adjusted EPS loss of 2 cents, missing analyst estimates of a 1-cent loss. Snap's $1.11 billion in revenue for the...

Snap stock lost over one-quarter of its market cap in Thursday’s after-hours trading following the disappointing quarterly results reported by the Snapchat parent. The Snap Analyst: Patterson downgraded Snap shares from Overweight to Sector Weight. The Snap Thesis: KeyBanc’s...

Snapchat parent Snap, Inc. (NYSE: SNAP) is scheduled to release its second-quarter results Thursday after the markets close. An analyst at KeyBanc Capital Markets has reduced the price target for shares just ahead of the quarterly earnings report. The Snap Analyst: Justin Patterson...