- James Hearney has recently said in an interview that SNAP won’t make any earnings till 2027.
- Technical indicators are favoring consolidation in Snap price. It is currently trading near $9.22
Snap Inc. is the company behind the popular social media platform Snapchat. The company went public in March 2017, with its stock listed on the New York Stock Exchange under the ticker symbol SNAP.Since its initial public offering, Snap’s stock price has been volatile, with fluctuations driven by the company’s financial performance and market sentiment. In the years following its IPO, Snap struggled to turn a profit and faced intense competition from larger tech firms, leading to a decline in its stock price.However, in recent years, the company has made progress in improving its financial performance and growing its user base. In 2020, Snap reported its first full-year profit, and in 2021, it reported strong user growth and revenue growth in the first quarter.
Snap Inc has a market cap of more than $14.8Billion and may see an increase in the near future. It has a negative EPS but can see a turnaround in the future.Various analysts are expecting a strong in the future.
Are Bulls Favoring The SNAP Stock Price?
SNAP stock price is currently in a consolidated trend for the past few months. The weekly technical chart of the SNAP price suggests a consolidated trend. On the daily chart the stock price is looking to jump beyond the $10 mark. It is currently near $9.22 with a gain of 0.88%. The upside trend of the asset can see a halt near $12. Meanwhile the support of the price can be seen near $8. It is currently trading below the 50 and 100 DMA but is looking to jump beyond it.If it happens then a strong upside trend in price can be seen in the near future.
Conclusion
SNAP.Inc may not make the money up until 2027 as per analyst. It has seen a crash of more than 80% since 2022. SNAP stock price is currently in a consolidation but can soon see a strong reversal in the future.
Technical Levels
Major Support:$8
Major Resistance:$12
Source: https://www.thecoinrepublic.com/2023/01/09/snap-price-prediction-is-the-80-of-snap-crash-going-to-revive-in-2023/