Snap Inc (NYSE:SNAP) price on current trading day, fall -5.74% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $11.90.
A look at the stock’s price movement, the level at last check in today’s session was $12.62, moving within a range at $11.75 and $12.59. The beta value (5-Year monthly) was 0.995. Turning to its 52-week performance, $17.90 and $8.29 were the 52-week high and 52-week low respectively. Overall, SNAP moved -2.42% over the past month.
Snap Inc’s market cap currently stands at around $19.95 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 1.55B for the company’s revenue for the quarter, with a low and high estimate of 1.53B and 1.6B respectively. The average forecast suggests up to a 14.02% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 5.35B, representing a 16.25% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that SNAP is a 50% Buy. On the other hand, the stock is on average a Hold as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
28 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 13 analyst(s) rate the stock as a Hold, 15 recommend SNAP as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
SNAP’s current price about 3.44% and 6.47% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 54.71, while 7-day volatility ratio is 4.76% and 4.47% in the 30-day chart. Further, Snap Inc (SNAP) has a beta value of 0.97, and an average true range (ATR) of 0.55. Analysts have given the company’s stock an average 52-week price target of $13, forecast between a low of $9 and high of $16. Looking at the price targets, the low is 24.37% off recent price level in today’s trading while to achieve the yearly target high, it has to move -34.45%. Nonetheless, investors will most likely welcome a -9.24% jump to $13 which is the analysts’ median price.
If we refocus on Snap Inc (NYSE:SNAP), historical trading data shows that trading volumes averaged 24.0 over the past 10 days and 28.06 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.42 billion shares.
The 36.25% of Snap Inc’s shares are in the hands of company insiders while institutional holders own 51.81% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 66.37 million on 2024-11-15, giving us a short ratio of 1.95. The data shows that as of 2024-11-15 short interest in Snap Inc (SNAP) stood at 714.0 of shares outstanding, with shares short falling to 72.07 million registered in 2024-10-15. Current price change has pushed the stock -29.74% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the SNAP stock continues to rise going into the next quarter.
