- Snap reports third-quarter earnings after the markets close on Tuesday.
- The company is popular among millennials, but many aren't optimistic about the company's earnings, according to Robinhood.
Millennials aren't too bullish ahead of Snap's third-quarter earnings report, due out after the bell on Tuesday.
Investors on the Robinhood platform, which is popular among millennial investors, are buying shares of Snap 2% more than they are selling shares in the week ahead of earnings. That's a big drop from last quarter's report, ahead of which Robinhood investors were buying shares 20% more than they were selling.
Snap is the ninth most popular stock on Robinhood's platform.
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Wall Street is just as mixed as retail investors. Only nine of the 34 analysts surveyed by Bloomberg rate the company a "buy" while 20 are neutral and five a "sell." Wall Street is expecting an adjusted loss of $0.15 on revenue of $235.5 million.
Snap shares are up about 2.43% at $15.19 a piece ahead of the results. Snap is still trading about 10% below its initial public offering price of $17.