Is Snap Stock a Buy Below $12 per Share?
The pain train just continues for (NYSE: SNAP) shareholders. After rising 89% in 2023, the social media platform and smartphone app saw its shares collapse below $12 after posting another quarter of losses. Despite growing its user count, Snap has failed to generate ad revenue on par with competing social media companies like Meta Platforms.
After its recent fall, Snap now trades close to $11 per share and is off 87% from its all-time high. Does that make the stock a buy, or is there more pain ahead for Snap shareholders?
Snap started as a messaging and ephemeral photo-sharing application more than a decade ago. Today, it remains a messaging app for hundreds of millions around the globe but has morphed -- or, more aptly, is trying to morph -- into a full-fledged entertainment platform. People continue to join the platform with daily active users (DAUs) growing 10% year over year to 414 million in the fourth quarter. This makes Snap one of the largest smartphone apps in the world, and it's only growing in popularity.
Source Fool.com
Snap Inc Stock
Currently there is a rather positive sentiment for Snap Inc with 15 Buy predictions and 7 Sell predictions.
With a target price of 14 € there is a hugely positive potential of 66.94% for Snap Inc compared to the current price of 8.39 €.
