Can Snap Stock Snap Back? Why Its Recent 36% Plunge Might Be a Buying Opportunity
(NYSE: SNAP) is the parent company of the social media platform Snapchat. Its stock soared 108% between September and January due in part to improved investor optimism caused by the new bull market in the S 500. Plus, the digital advertising market appears to be recovering and fears of a recession in the broader economy are fading.
However, when Snap reported its financial results for the fourth quarter and full 2023 year earlier this month, its stock plunged 36%. The company's revenue growth remained sluggish, and its profitability forecast disappointed investors.
Nonetheless, I think there were several positive takeaways from Snap's results -- and several reasons why its stock could soon Snap back.
Source Fool.com
Snap Inc Stock
€12.42
0.380%
Our community is currently high on Snap Inc with 12 Buy predictions and 5 Sell predictions.
As a result the target price of 14 € shows a slightly positive potential of 12.76% compared to the current price of 12.42 € for Snap Inc.
