Snapchat Debuts On NYSE With A Pop At $24 Per Share

“As the stock priced well above this level in its IPO, we rate its shares Sell”, Wieser said in his March 2 report. Thursday morning, Snap opened at $24, up 41% from Wednesday night’s pricing. The $17 initial offering price valued the company at about $24 billion, a number that has since risen with the Venice, CA, company’s share price shooting above $25, as of this writing. And though Snap has yet to make a profit – the company lost $515 million a year ago, many analysts say one of the biggest worries investors have about the deal is the fear of missing out.

It is unclear exactly how much money St. Francis put into the tech company. Renaissance Capital manages an exchange traded fund of the top new stocks, which fell 1 per cent last year but is up more than 10 per cent this year, outperforming the S&P 500.

By selling the initial float at $17, Snap received a total valuation of almost $24 billion.

Although Snap went public at a much earlier stage in its development than its two rivals Twitter or Facebook, the 5-year-old company is valuing itself at almost 60 times revenue and more than double the 27 times revenue Facebook fetched when it went public in 2012.

The IPO is also a sprinkle of rain amid a dry spell for tech sector public offerings and investors seem especially keen to get a little wet.

His other concerns include Snap’s unclear path to profitability, the nonvoting status of its investors, its outward cash flows and its subpar analytics as they relate to advertising.

They each planned to sell 16 million shares, suggesting that they would each see $272 million.

Interest in Snap’s shares could remain high amid media coverage and more investor demand, said Ihor Dusaniwsky, head of research at S3 Partners.

And Weiser is not the only analyst with an eye on Snap’s rivals. As Bloomberg writes, Snap’s (percent) gains today beat out Alibaba, Facebook, and a most of other big IPOs.

Loss-making Snap’s Snapchat app – best known for disappearing messages and use of image filters to add special effects – has proved popular with teenagers especially, with over 158 million users worldwide but user growth has been slowing.