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Wednesday, April 21, 2021

Snap Inc. (NYSE:SNAP) Stock is Plummeting, Here is Why

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Snap Inc. (SNAP) shares are trading at lower $42.22 and the avg recommendation for the stock is Moderate Buy, while the current analyst price target stands at $26.87.

To add more color to this target, the company’s high over the last year is $44.18 and the low is $7.89. Over the last 52 weeks, SNAP is up 184.12% while the S&P 500 is up 8.50%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, SNAP reported a profit of $385.57 million. Snap Inc. also saw revenues increase to $678.67 million. In addition, SNAP has free cash flow of -$156.48 million as of 09-2020. The company’s EBITDA came in at -$121.56 million which compares well with its peers.

SNAP booked profit margins of -49.70%, its Return on Equity (ROE) is -48.90%, and its Return on Assets is -24.60%. All told, it is clear that, SNAP needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. SNAP has a short ratio of 1.94 and outstanding shares of 1.47B.

Company Outlook

SNAP has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 118.16 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.75. Snap Inc. SNAP also noted assets of $4.82 billion at the end of the last quarter. Investors should also keep an eye on sector updates as SNAP has historically followed its peers on positive news.

All told, Snap Inc. SNAP has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SNAP represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Snap Inc. SNAP is now commanding a market cap of 56.79B and a float of 904.86M. SNAP is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of SNAP stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in SNAP, either long or short, and we have not been compensated for this article.

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