Shares of Snapchat operator (NYSE: SNAP) experienced a run-up near the end of 2023, hitting a 52-week high of $17.90 in December. But the trend changed in 2024. After a period of sideways moves, the stock plunged after the company released its fourth-quarter results on Feb. 6.
That drop may indicate reasons exist to avoid the stock, or it may have created a buying opportunity. Wall Street analysts' median price target on the stock is $13.90, which suggests an upside given its current level.
Could this social media company be on a trajectory toward producing strong financial results over the long haul?
Source Fool.com