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Snap (SNAP 0.89%) has lost over $10 billion in market cap in 2024.
Snap (SNAP) reachead $11.30 at the closing of the latest trading day, reflecting a +0.71% change compared to its last close.
Snap (SNAP) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
This growth stock is delivering excellent revenue growth while keeping costs under control.
I'm upgrading Snap stock from sell to buy after a 6% price drop since my sell call and on potential gains from TikTok's U.S. ban, expected January 19th. TikTok's likely U.S. ban could benefit Snapchat significantly, as 70% of Snapchat users also use TikTok, and this could present higher user engagement on the platform. Snapchat is well aware and rolling out an expanded creator monetization program only days after the TikTok (possible) ban. I think this good news has yet to be priced in.
Top Snapchat creators will soon have more ways to make money on the social media app.
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Snapchat's stock has been volatile in 2024, but strong Q3 performance and growth in Snapchat+ subscriptions position it well for 2025. The potential TikTok ban in the U.S. could significantly boost Snapchat's user base and Snapchat+ subscriptions, offering a substantial growth catalyst. Despite high forward P/E ratios, Snapchat's impressive revenue growth justifies the premium, making shares a strong buy with potential 20% upside.
Snap trades near recent lows despite record revenues and a booming subscription business. The company has innovation in AR and AI, including Spectacles and My AI chat, driving user engagement and revenue growth, yet the market remains skeptical. Snapchat+ subscription service, with 12 million subscribers, could reach $1.5 billion in run rate revenue exiting 2025, significantly boosting Snap's financial outlook.
Snap stock price has gone nowhere since 2022 as concerns about its growth and rising competition rose. It has remained between the support at $8.22 and the resistance at $17.57 in the past few years as the NASDAQ 100 and the S&P 500 indices have soared to a record high.
Snap (SNAP) reported earnings 30 days ago. What's next for the stock?