Will $Snap Stock Continue its Bullish Trade Till the Week-end?

Snap Inc. (NYSE:SNAP), an American social media company is headquartered in Santa Monica, CA. The company owns the flagship product, Snapchat. This camera platform helps people communicate visually with friends and family through short videos and images called Snaps. However, its primary source of revenue is advertising.

$SNAP stock price analysis

In its last trading session, $SNAP noted an increase of almost 0.92% to $9.90. However, last week, its shares were down by 8.76%. Also, Snap’s year-to-date analysis noted an increase of 8.20%.

Source: SNAP/USD by Tradingview

Earlier this month, Snap released its Q4 report. According to the reports, the company reported earnings per share of $0.14 against the estimates of $0.11. However, it missed on revenue estimates of $1.31 billion – reporting $1.30 billion.

The Snap community outside North America and Europe has grown by more than 80% since the fourth quarter of 2020. Snap’s global daily active users however missed on estimates of 375.5 million at 375 million. While its average revenue per user also came in short at $3.47 per user against predictions of $3.49.

Notably, this news was enough to cause its share price to tumble. But now it seems like the shares of Snap are coming back to trade in the bullish zone.

Know more about Snap stock

The financial summary of Snap Inc states that the current SNAP market cap is $15.513 Billion. And the next Snap Inc earnings date is April 25th, the estimation is -$0.23. The total revenue of SNAP for the last quarter is 1.30 Billion, and it’s 15.18% higher compared to the last quarter. The net income of Q4 22 is – $288.46 Million.

$SNAP earnings for the last quarter are -$0.18 whereas the estimation was -$0.11 which accounts for -69.13% surprise. Estimated earnings for the next quarter are -$0.23, and revenue is expected to reach $1.01 B. SNAP rise snapped a three-day losing streak.

Furthermore, Wall Street is optimistic on Snap Inc. As on an average analysts give Snap a buy rating. And their price target is $11.071 that states analysts expect the stock to move upward by 13.32% over the upcoming 12-months. It must be noted that the analyst rating is important as they do proper study over the inner working culture of any company.


The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading stocks comes with a risk of financial loss.

Nancy J. Allen
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Source: https://www.thecoinrepublic.com/2023/02/23/will-snap-stock-continue-its-bullish-trade-till-the-week-end/