Snap Inc (NYSE:SNAP) shares, rose in value on Thursday, November 21, with the stock price down by -1.65% to the previous day’s close as strong demand from buyers drove the stock to $10.41.
Actively observing the price movement in the recent trading, the stock is buoying the session at $10.59, falling within a range of $10.4 and $10.59. The value of beta (5-year monthly) is 0.995. Referring to stock’s 52-week performance, its high was $17.90, and the low was $8.29. On the whole, SNAP has fluctuated by 2.61% over the past month.
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With the market capitalization of Snap Inc currently standing at about $17.47 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 5.37B, with a low estimate of 1.53B and a high estimate of 1.75B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.56B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that SNAP’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 100% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the price of SNAP currently trading nearly -8.53% and -3.67% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 41.18, while the 7-day volatility ratio is showing 3.16% which for the 30-day chart, stands at 4.49%. Furthermore, Snap Inc (SNAP)’s beta value is 0.97, and its average true range (ATR) is 0.46.
A comparison of Snap Inc (SNAP) with its peers suggests the former has fared considerably weaker in the market. SNAP showed an intraday change of -1.65% in today’s session so far, and over the past year, it shrunk by -13.64%%.
Data on historical trading for Snap Inc (NYSE:SNAP) indicates that the trading volumes over the past 10 days have averaged 28.83 and over the past 3 months, they’ve averaged 27.12 million. According to company’s latest data on outstanding shares, there are 1.39 billion shares outstanding.
Nearly 36.26% of Snap Inc’s shares belong to company insiders and institutional investors own 51.81% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 80.0 million shares as on 2024-10-31, resulting in a short ratio of 2.93. According to the data, the short interest in Snap Inc (SNAP) stood at 861.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 69.76 million. The stock has fallen by -38.48% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SNAP stock heading into the next quarter.
